Notes to the company financial statements
Notes contents
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– Borrowings
4. Cash and cash equivalents (excluding overdrafts)
All figures in £ millions | 2009 | 2008 |
---|---|---|
Cash at bank and in hand | 2 | 2 |
Short-term bank deposits | 122 | 55 |
124 | 57 |
Short-term bank deposits are invested with banks and earn interest at the prevailing short-term deposit rates.
At the end of 2009 the currency split of cash and cash equivalents was US dollar 26% (2008: nil), sterling 72% (2008: 95%) and euro 2% (2008: 5%).
Cash and cash equivalents have fair values that approximate to their carrying amounts due to their short-term nature.
Cash and cash equivalents include the following for the purpose of the cash flow statement:
All figures in £ millions | 2009 | 2008 |
---|---|---|
Cash and cash equivalents | 124 | 57 |
Bank overdrafts | (419) | (352) |
(295) | (295) |