Notes to the consolidated
financial statements
18. Cash and cash equivalents
| 2010 £m | 2009 £m |
|
|---|---|---|
| Cash at bank and in hand | 745 | 811 |
| Money market funds | 3,678 | 3,419 |
| Repurchase agreements | – | 648 |
| Cash and cash equivalents as presented in the statement of financial position | 4,423 | 4,878 |
| Bank overdrafts | (60) | (32) |
| Cash and cash equivalents as presented in the statement of cash flows | 4,363 | 4,846 |
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.
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