Notes to the consolidated and separate annual financial statements | Note 18

18. Trade and other payables
 

Group  Company
R'000  2024  2023  2024  2023 
Financial instruments:
Trade payables 624 308 757 706 1 062 413
Dividend payable 2 999 2 206 2 999 2 206
Other payables 10 698 50 846 – 988
638 005 810 758 4 061 3 607
Non-financial instruments:
Employee benefit accruals 137 974 135 101 17 869 18 146
Other short-term provisions 107 101 – – –
Other taxes payable 10 606 – – –
893 686 945 859 21 930 21 753

Trade payables are non-interest-bearing and are normally settled on 30 to 45-day terms. Other payables are non-interest-bearing and are normally settled on 30-day terms. An accrual is recognised for the employer's liability for annual leave, annual bonus and associated costs. The accrual for annual leave is recognised when the employee renders the service, and the accrual is updated on a monthly basis. Employee benefits include an accrual for bonuses in terms of the Group's bonus scheme. The Group's exposure to currency, credit and liquidity risk related to trade and other payables are disclosed in note 27.

Other short-term provisions include provisions for community expenses (social labour plans) and the retrenchment costs related to the closure of the Rustenburg smelter. Other taxes payables relate to carbon and mining royalty taxes.

Refer to note 32 for other trade payables from related parties.