5 Trade and Other Payables

Actual
30/6/07
$000
  Actual
30/6/08
$000
6,118 Creditors payable 13,365
Accrued expenses
6,118 Total trade and other payables 13,365

Trade and other payables are non-interest bearing and are normally settled on 30-day terms. Therefore, the carrying value of creditors and other payables approximates their fair value.