kAThMANdu  annual report 2012 55 Group pArent 2012 nZ$’000 2011 nZ$’000 2012 nZ$’000 2011 nZ$’000 Opening balance  3,467 3,472 - 445 Income statement charge 779 (914) - (445) Tax charged directly to equity (1,028) 909 - - Closing balance 3,218 3,467 - - Group pArent 2012 nZ$’000 2011 nZ$’000 2012 nZ$’000 2011 nZ$’000 Re-measurement of deferred tax - company tax rate change from 30% to 28%  - (13) - 5 - (13) - 5 Group pArent 2012 nZ$’000 2011 nZ$’000 2012 nZ$’000 2011 nZ$’000 Trade payables 10,084 6,685 10 - Employee entitlements 3,868 4,979 - - Sundry creditors and accruals 15,352 9,348 38 42 29,304 21,012 48 42 NZD 5,943 5,624 53 24 AUD 20,064 8,722 (5) 18 GBP 1,768 810 - - USD 1,529 5,856 - - 29,304 21,012 48 42 the carrying amount of the Group’s trade and other payables are denominated in the following currencies: the gross movement on the deferred income tax account is as follows: Movements Effective tax rate reconciliation: 16 TRAdE ANd OThER PAYABLES