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4. Cash and cash equivalents (excluding overdrafts)
All figures in £ millions | 2007 | 2006 |
---|---|---|
Cash at bank and in hand | 1 | 48 |
Short-term bank deposits | 60 | 105 |
61 | 153 |
Short-term bank deposits are invested with banks and earn interest at the prevailing short-term deposit rates. 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 | 2007 | 2006 |
---|---|---|
Cash and cash equivalents | 61 | 153 |
Bank overdrafts | (281) | (336) |
(220) | (183) |