Cash and cash equivalents
Cash and cash equivalents include cash in bank accounts, on-demand bank deposits, other highly liquid short-term investments with initial maturity of up to three months. Cash on hand is measured at nominal value on every balance sheet date.
Cash in bank accounts, on-demand bank deposits, other highly liquid short-term investments with initial maturity of up to three months are measured at amortised cost on each balance sheet date (at nominal/initial value plus interest accrued until the balance sheet date, adjusted by expected credit losses).
Restricted cash, including cash serving as collateral for settlements with the clearing-house IRGiT, is included in cash and cash equivalents.
Presentation of deposits at clearinghouse IRGiT
These are funds constituting collateral for settlements with the clearing-house IRGiT, and they are analysed in terms of the possibility to free them up without incurring a substantial loss.
| As at | ||
|---|---|---|
| 31 December 2020 | 31 December 2019 | |
| Cash on hand and at bank account | 1 057 562 | 764 089 |
| – Cash on hand | 33 | 25 |
| – Cash at bank account | 1 057 529 | 764 064 |
| Other cash | 883 992 | 2 997 858 |
| – Cash in transit | – | 7 |
| – Deposits | 510 237 | 2 934 752 |
| – Other | 373 755 | 63 099 |
| Total cash and cash equivalents | 1 941 554 | 3 761 947 |
| Cash recognised in the statement of cash flows | 1 941 554 | 3 761 947 |
| including restricted cash | 754 321 | 477 382 |
Cash is not used as collateral. Other cash mainly includes cash as deposits for electricity and CO2 emission allowance transactions (mainly cash used as collateral in settlements with clearinghouse IRGiT).
As at 31 December 2020, the Group’s restricted cash amounted to PLN 754 321 thousand (as at 31 December 2019: PLN 477 382 thousand). This mainly included cash for deposits for electricity and CO2 emission allowance transactions (mainly cash for collateral in settlements with IRGiT), funds in a VAT account (split payment), collateral paid to suppliers and cash withholding as collateral for proper performance of work.