GKN PLC

Annual Report and Accounts
for the year ended 31 December 2007

 

16 Trade and other payables

2007 2006 restated1
Current
£m
Non-current
£m
Current
£m
Non-current
£m
Trade and other payables 602 1 544 1
Amounts owed to joint ventures 2 - 2 -
Accrued interest 26 - 26 -
Payroll taxes, indirect taxes and audit fees 36 2 26 1
Amounts due to employees 119 22 106 17
Government grants 1 5 2 5
Customer advances and deferred income 51 1 37 5
837 31 743 29
Note 1: Restated following adoption of IFRS 7.

Non-current amounts due to employees includes amounts payable in respect of employee deferred compensation arrangements in the United States of America. Non-current trade and other payables fall due within 2 years.

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