Notes to the Company annual financial statements | Note 8

8. CASH AND CASH EQUIVALENTS
 

For details regarding the accounting policy refer to note 5.

For the purposes of the statement of cash flows, cash and cash equivalents comprise cash at bank and in hand.

Cash and cash equivalents consist of: 2023
R’000		 2022
R’000
Bank balances 1 389 2 865

For details of cross-surety securities provided, refer to note 12.

Credit quality of cash at bank, excluding cash on hand

The credit quality of cash at bank can be assessed by reference to external credit ratings.

Credit rating (Moody's)1 2023
R’000		 2022
R’000
Ba2 FNB (2022: Ba2) 1 237 1432
Ba2 Investec (2022: Ba2) 152 1 433
  1 389 2 865
1 Credit ratings disclosed are the most recent published credit ratings.

The carrying amount of cash and cash equivalents approximates their fair value.