27. Cash and cash equivalents
Cash at bank bears interest at variable rates, the value of which depends on the interest rate on overnight bank deposits. Short-term term deposits are made for periods of various lengths, from one day to one month depending on the Group current demand for cash and bear interest at the applicable interest rates.
The fair value of cash and cash equivalents is presented in the table below.
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Bank deposits (current accounts) and short-term deposits | 89,328 | 139,406 |
| Cash in hand | 28 | 12 |
| Total | 89,356 | 139,418 |
As at 31 December 2023, the Group had PLN 10,178,000 of restricted availability cash in its VAT accounts (as at 31 December 2022: PLN 13,123,000). The cash may be used only for the purpose of output VAT, CIT, PIT and ZUS [social security] payments to authorities or as VAT payments to the Group suppliers.
As at 31 December 2023, the Group had undrawn credit limits amounting to PLN 790,301,000 with regard to which all conditions precedent had been complied with (31 December 2022: PLN 603,261,000).