Annual Report and Accounts 2009

Notes to the Consolidated Financial Statements for the year to 31 December 2009

20. Trade and other payables

  Current  Non-current
  2009
£m
2008
£m
2009
£m
2008
£m
Trade payables 249.7 562.9 203.7 293.8
Joint ventures 1.3
Currency and interest rate derivatives 12.9 14.4
Other payables 496.1 593.4 74.9 48.3
  760.0 1,170.7 278.6 342.1

Trade payable days were 20 days (2008: 26 days), based on the ratio of year end trade payables (excluding sub-contract retentions and unagreed claims of £35.3m (2008: £28.8m) and land creditors) to amounts invoiced during the year by trade creditors.

Other payables include customer deposits for reserving plots of £91.5m (2008: £80.1m).

Land creditors (included within trade payables) are due as follows: 2009
£m
2008
£m
Due within one year 124.3 355.2
Due in more than one year 201.4 290.1
  325.7 645.3

Land creditors are denominated as follows: 2009
£m
2008
£m
Sterling 275.6 552.5
US dollars 1.0 33.1
Canadian dollars 38.6 35.9
Euros 10.5 23.8
  325.7 645.3

Land creditors of £195.0m (2008: £492.0m) are secured against land acquired for development, or supported by bond or guarantee