10.06.2013 Views

The way ahead? - Vodafone

The way ahead? - Vodafone

The way ahead? - Vodafone

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

Overview<br />

Business<br />

review Performance Governance Financials<br />

18. Trade and other payables<br />

Additional<br />

information<br />

Our trade and other payables mainly consist of amounts we owe to our suppliers that have been invoiced<br />

or are accrued. <strong>The</strong>y also include taxes and social security amounts due in relation to our role as an employer.<br />

Derivative financial instruments with a negative market value are reported within this note.<br />

2013 2012<br />

£m £m<br />

Included within non-current liabilities:<br />

Other payables 191 193<br />

Accruals and deferred income 321 357<br />

Derivative financial instruments 982 774<br />

1,494 1,324<br />

Included within current liabilities:<br />

Trade payables 4,328 4,526<br />

Amounts owed to associates 19 18<br />

Other taxes and social security payable 1,284 1,075<br />

Other payables 512 541<br />

Accruals and deferred income 9,933 8,961<br />

Derivative financial instruments 122 115<br />

16,198 15,236<br />

<strong>The</strong> carrying amounts of trade and other payables approximate their fair value. <strong>The</strong> fair values of the derivative financial instruments are calculated<br />

by discounting the future cash flows to net present values using appropriate market interest and foreign currency rates prevailing at 31 March.<br />

2013 2012<br />

£m £m<br />

Included within “Derivative financial instruments”:<br />

Fair value through the income statement (held for trading):<br />

Interest rate swaps 1,016 800<br />

Foreign exchange swaps 44 89<br />

1,060 889<br />

Fair value hedges:<br />

Interest rate swaps 44 –<br />

1,104 889<br />

119<br />

<strong>Vodafone</strong> Group Plc<br />

Annual Report 2013

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!