Notes to the Consolidated Financial Statements
Notes 16-20
- 16. Inventory
- 17. Trade and other receivables
- 18. Cash and cash equivalents
- 19. Called up share capital
- 20. Share-based payments
18. Cash and cash equivalents
| 2008 £m |
2007 £m |
|
|---|---|---|
| Cash at bank and in hand | 451 | 827 |
| Money market funds | 477 | 5,525 |
| Repurchase agreements | 478 | – |
| Commercial paper | 293 | 1,129 |
| Cash and cash equivalents as presented in the balance sheet | 1,699 | 7,481 |
| Bank overdrafts | (47) | (23) |
| Cash and cash equivalents as presented in the cash flow statement | 1,652 | 7,458 |
Bank balances and money market funds comprise cash held by the Group on a short term basis with original maturity of three months or less. The carrying amount of these assets approximates their fair value.
All commercial paper investments and repurchase agreements have a maturity of less than three months and the carrying value approximates the fair value.