8. Creditors and other payables 2014 $000 2013 $000 198 335 Revenue received in advance 25 16 Other payables 75 89 298 440 Creditors Total creditors and other payables Creditors and other payables are non-interest bearing and are normally settled on 30-day terms. The carrying value approximates their fair value. 9. Finance lease Description of leasing arrangements The Commission has a finance lease for photocopiers and fax machines. Security Finance lease liabilities are effectively secured as the rights to the leased assets revert to the lessor in the event of default. The net carrying amount of the leased assets within each class of property, plant and equipment is shown in note 11. Analysis of finance leases 2014 $000 2013 $000 13 31 Later than one year but not later than five years - 13 Later than five years - - 13 44 - (3) 13 41 13 28 Later than one year but not later than five years - 13 Later than five years - - 13 41 Minimum lease payments payable Not later than one year Total minimum lease payments Future finance charges Present value of minimum lease payments Present value of minimum lease payments Not later than one year Total present value of minimum lease payments 84 72 Human Rights Commission