Financial Statements

Notes to the Consolidated Financial Statementsfor the year to 31 December 2008

22. Trade and other payables

Current Non-current
2008
£m
2007
£m
2008
£m
2007
£m
Trade payables 562.9 920.6 293.8 376.6
Joint ventures 3.4
Currency and interest rate derivatives 14.4 1.5
Other payables 593.4 614.8 48.3 11.8
1,170.7 1,540.3 342.1 388.4

Trade payable days were 26 days (2007: 43 days), based on the ratio of year-end trade payables (excluding sub-contract retentions and unagreed claims of £28.8m (2007: £23.8m) and land creditors) to amounts invoiced during the year by trade creditors.

Other payables include customer deposits for reserving plots of £80.1m (2007: £90.1m).

Land creditors (included within trade payables) are due as follows: 2008
£m
2007
£m
Due within one year 355.2 453.7
Due in more than one year 290.1 375.3
645.3 829.0
Land creditors are denominated as follows: 2008
£m
2007
£m
Sterling 552.5 711.0
US dollars 33.1 42.4
Canadian dollars 35.9 38.4
Euros 23.8 37.2
645.3 829.0

Land creditors of £492.0m (2007: £570.9m) are secured against land acquired for development, or supported by bond or guarantee.