| | 30 November
2014
£m | 1 December
2013
£m |
|---|
| Trade payables | 61.3 | 53.0 |
| Taxation and social security | 4.8 | 4.1 |
| Accruals | 46.6 | 42.0 |
| Deferred income | 23.8 | 30.9 |
| | 136.5 | 130.0 |
Deferred income represents the value of delivery income received under the Ocado Smart Pass scheme allocated to future periods, upfront licence fees from the Morrisons strategic operating agreement, lease incentives, and media income from suppliers which relate to future periods.