Notes to the consolidated financial statements
22. Trade and other payables
| 2009 £m |
2008* £m |
||||
|---|---|---|---|---|---|
| Trade payables | 1,653 | 1,708 | |||
| Commodity contract liabilities | 203 | 36 | |||
| Social security and other taxes | 111 | 114 | |||
| Other payables | 650 | 518 | |||
| Deferred income | 218 | 104 | |||
| 2,835 | 2,480 |
- *
- Comparatives have been restated for the finalisation of the fair value exercise on the acquisition of KeySpan Corporation (see note 28)
Due to their short maturities, the fair value of trade and other payables (excluding deferred income) approximates their book value. Commodity contract liabilities are recorded at fair value. For further details of commodity risk, refer to note 34. All other trade and other payables are recorded at amortised cost.