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23. Trade and other liabilities
| All figures in £ millions | 2007 | 2006 |
|---|---|---|
| Trade payables | 342 | 343 |
| Social security and other taxes | 23 | 18 |
| Accruals | 402 | 345 |
| Deferred income | 290 | 276 |
| Dividends payable to minority | 12 | – |
| Other liabilities | 171 | 178 |
| 1,240 | 1,160 | |
| Less: non-current portion | ||
| Accruals | 30 | 24 |
| Deferred income | 58 | 47 |
| Other liabilities | 102 | 91 |
| 190 | 162 | |
| Current portion | 1,050 | 998 |
The carrying value of the Group’s trade and other liabilities approximates its fair value.
The deferred income balances comprise:
– multi-year obligations to deliver workbooks to adoption customers in school businesses;
– advance payments in contracting businesses;
– subscription income in school, newspaper and market pricing businesses;
– advertising income relating to future publishing days in newspaper businesses; and
– obligations to deliver digital content in future periods.