Annual Report and Accounts 2010-11 - Manchester Airport

Notes to the Consolidated Financial Statements for the year ended 31 March 2011 5917. Cash and cash equivalents2011 2010£m £mCash at bank and in hand 0.7 1.4Short term deposits 7.8 1.28.5 2.6The carrying value of these assets approximates to their fair value.The credit risk on short term deposits is limited as reflected in the Fitch credit ratings of the counterparty banks of not less than F2.18. Borrowings2011 2010Notes £m £mOverdraft 0.3 0.3Bank loans 19 216.7 183.5Other borrowings 20 163.1 163.2Obligations under finance leases 21 1.3 3.2381.4 350.2Borrowings are repayable as follows:In one year or less, or on demandOverdraft 0.3 0.3Other borrowings 0.1 0.1Obligations under finance leases 1.3 1.91.7 2.3In more than one year, but no more than two yearsBank loans 142.0 108.8Other borrowings 0.1 –Obligations under finance leases – 1.3142.1 110.1In more than two years, but no more than five yearsOther borrowings 0.1 0.20.1 0.2In more than five years – due other than by instalmentsBank loans 74.7 74.7Other borrowings 162.0 162.0236.7 236.7In more than five years – due by instalmentsOther borrowings 0.8 0.90.8 0.9Non Current Borrowings 379.7 347.9Total Borrowings 381.4 350.2See note 22 for further information on financial liabilities, including maturity analysis.The Manchester Airport Group PLC Annual Report and Accounts 2010-11