Annual report and accounts 2008

Notes contentsNotes to the company financial statements

4. Cash and cash equivalents

All figures in £ millions	2008	2007
Cash at bank and in hand	2	1
Short-term bank deposits	55	60
	57	61

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	2008	2007
Cash and cash equivalents	57	61
Bank overdrafts	(352)	(281)
	(295)	(220)