BT 2011 Annual Report Download - page 126

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16. Cash and cash equivalents
2011 2010
At 31 March £m £m
Cash at bank and in hand 141 197
Cash equivalents
Loans and receivables
UK deposits 182 1,211
US deposits 20 37
European deposits 87
Total cash equivalents 210 1,255
Total cash and cash equivalents 351 1,452
Bank overdrafts (26) (8)
Cash and cash equivalents per the cash flow statement 325 1,444
The group has cross undertaking guarantee facilities across certain bank accounts which allow a legally enforceable right of set-off of the
relevant cash and overdraft balances on bank accounts included within each scheme.
The group’s cash at bank included restricted cash of £77m (2010: £54m), of which £59m (2010: £29m) were held in countries in which
prior approval is required to transfer funds abroad. Such liquid funds are at the group’s disposition within a reasonable period of time if it
complies with these requirements. The remaining balance of £18m (2010: £25m) were held in escrow accounts.
Cash and cash equivalents are primarily fixed rate financial assets held for periods ranging from one day to three months.
17. Associates and joint ventures
2011 2010
Associates Joint ventures Total Associates Joint ventures Total
£m £m £m £m £m £m
Non-current assets 28 6 34 49 7 56
Current assets 214 5 219 278 4 282
Current liabilities (43) (1) (44) (77) (2) (79)
Non-current liabilities (45) – (45) (64) – (64)
Share of net assets at 31 March 154 10 164 186 9 195
Revenue 263 22 285 298 14 312
Expenses (233) (26) (259) (266) (14) (280)
Taxation (5) – (5) (7) – (7)
Share of post tax results before specific items 25 (4) 21 25 – 25
Specific items (note 8) – – – 29 – 29
Share of post tax results 25 (4) 21 54 – 54
123BT GROUP PLC ANNUAL REPORT & FORM 20-F 2011
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OVERVIEWBUSINESS REVIEWFINANCIAL REVIEWREPORT OF THE DIRECTORSFINANCIAL STATEMENTSADDITIONAL INFORMATION