Annual Report and Accounts 2010

9Cash and cash equivalents

 

2010
£000

2009
£000

Cash at bank and in hand

29,363

32,489

Bank deposits with original maturity of less than three months

2,000

29,363

34,489

Cash and cash equivalents The carrying amount approximates to fair value because of the short-term maturity of these instruments, being no greater than three months.

The effective interest rate on bank deposits (with original maturity of less than three months) outstanding as at 31 December 2009 was 1.5% and these deposits had an average maturity of 27 days.