v3.25.4
Trade and other liabilities
12 Months Ended
Dec. 31, 2025
Texts Block [Abstract]  
Trade and other liabilities
24. Trade and other liabilities
 
  All figures in £ millions
  
   2025
    
   2024
 
Current
     
Trade payables
  
 
281
 
  
 
273  
Sales return liability
  
 
19
 
  
 
27  
Deferred income
  
 
328
 
  
 
329   
Interest payable
  
 
13
 
  
 
12  
Accruals and other liabilities
  
 
402
 
  
 
413  
 
 
 
  
1,043
  
 
1,054  
Non-current
  
 
 
  
Deferred income
  
 
61
 
  
 
62  
Accruals and other liabilities
  
 
15
 
  
 
21  
 
 
 
 
  
 
76
 
  
 
83  
The carrying value of the Group’s trade and other liabilities approximates its fair value. The deferred income balance comprises contract liabilities in respect of advance payments in assessment, testing and training businesses; subscription income in school and college businesses; and obligations to deliver digital content in future periods.