Note 11: Creditors and other payables
| Actual 2011 $000 |
Actual 2012 $000 |
|
|---|---|---|
| 1,932 | Creditors | 1,386 |
| 2,154 | Income in advance | 2,751 |
| 430 | Accrued expenses | 672 |
| 531 | GST payable | 633 |
| 5,047 | Total creditors and other payables | 5,442 |
Creditors and other payables are non-interest-bearing, and are normally settled on 30-day terms. The carrying value of creditors and other payables therefore approximates their fair value.