Cash and cash equivalents (excluding overdrafts) |
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| Cash and cash equivalents (excluding overdrafts) | 17. Cash and cash equivalents (excluding overdrafts)
Included within cash at bank and in hand is £ 11 m (2024: £62m) of money market funds. Short-term bank deposits are invested with banks and earn interest at the prevailing short-term deposit rates. At the end of 2025, the currency split of cash and cash equivalents was US dollar 29 % (2024: 33%), sterling 14 % (2024: 27%), and other 57 % (2024: 40%). Cash and cash equivalents have fair values that approximate to their carrying value due to their short-term nature. The Group has certain cash pooling arrangements in US dollars, sterling
, Euro and Canadian dollars where both the company and the bank have a legal right of offset. The company presents these amounts net in the balance sheet where legal right of offset exists and the company has the intention to settle net if required. As at 31 December 2025, £nil of financial liabilities (2024: £2m) were presented net within financial assets. |
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