Turn Page 
Notes to the consolidated financial statements
Year ended 31 July 2007
23. Trade and other payables
| Current | 2007 £m |
2006 £m |
|---|---|---|
| Amounts falling due within one year: | ||
| Trade payables | 1,974 | 1,504 |
| Bills of exchange payable | 196 | 188 |
| Other tax and social security | 78 | 142 |
| Other payables | 187 | 148 |
| Accruals | 350 | 305 |
| Deferred income | 11 | 7 |
| Total trade and other payables | 2,796 | 2,294 |
| Non-current | ||
| Other payables | 63 | 25 |
The fair value of other payables falling due after more than one year is estimated at £63 million (2006: £21 million). The fair value of other amounts included in trade and other payables approximates to book value.