Cash and cash equivalents
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.
Significant judgements and estimates
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.
Cash and cash equivalents
| As at | ||
|---|---|---|
| 31 December 2021 | 31 December 2020 | |
| Cash on hand and at bank account | 2 722 512 | 1 057 562 |
| Cash on hand | 43 | 33 |
| Cash at bank account | 2 722 469 | 1 057 529 |
| Other cash | 1 431 041 | 883 992 |
| Cash in transit | 11 | – |
| Deposits | 995 380 | 510 237 |
| Other | 435 650 | 373 755 |
| Total cash and cash equivalents | 4 153 553 | 1 941 554 |
| Cash recognised in the statement of cash flows | 4 153 553 | 1 941 554 |
| including restricted cash | 646 928 | 754 321 |
No collateral is established on cash. Other cash mainly includes cash in deposits for electricity and CO2 emission allowance transactions (mainly cash constituting collateral for settlements with clearing-house IRGiT).
As at 31 December 2021, the Group’s restricted cash amounted to PLN 646 928 thousand (as at 31 December 2020: PLN 754 321 thousand). This mainly included cash for deposits for electricity and CO2 emission allowance transactions (mainly cash for collateral in settlements with clearinghouse IRGiT), funds in a VAT account (split payment), collateral paid to suppliers and cash withholding as collateral for proper performance of work.