Carphone Warehouse 2016 Annual Report Download - page 124
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Notes to the Group financial statements
122
16 Trade and other payables
30 April 2016 2 May 2015
Current
£million
Non-
current
£million
Current
£million
Non-
current
£million
Trade payables 1,373 — 1,097 —
Other taxes and social security 271 — 205 —
Derivative financial instruments 42 — 26 —
Other creditors 108 206 103 277
A
ccruals 360 60 384 72
Deferred income 156 157 146 147
2,310 423 1,961 496
Non-current other creditors relate principally to property leases that are deemed to be over-rented. These liabilities are unwound
over the period of the relevant lease, of up to 21 years. The carrying amount of trade and other payables approximates their
fair value.
17 Deferred and contingent consideration
30 April 2016 2 May 2015
Current
£million
Non-
current
£million
Current
£million
Non-
current
£million
Deferred consideration 12 21 25 6
30 April
2016
£million
2 Ma
y
2015
£million
Opening balance 31 50
Dixons Retail Merger — 6
Recognised on acquisition of subsidiary (note 24) 23 —
Settlements (26) (25)
Change in valuation (note 4) 5 —
Closing balance 33 31
Earn-out consideration of up to £23 million is payable in cash and is contingent on the performance of Simplifydigital and
the Epoq kitchen business against earnings growth targets over a period of up to five years. The fair value of contingent
consideration arrangements has been estimated by applying the income approach. A reduction in growth assumptions
used in the fair value methodology would result in a reduction in the amount of contingent consideration payable.
00_DC 2016 Annual Report.pdf 122 11/07/2016 18:34