11. Cash and cash equivalents

2025

£’000

2024

£’000

Cash and demand balances at banks

61,319

64,772

Short-term deposits1

33,834

38,586

95,153

103,358
  • As at 31 December 2025, the Company held short-term deposit accounts with Royal Bank of Scotland and Butterfield, with withdrawal notice periods of 35 and 32 days and corresponding interest rates of 1.70% and 3.45% respectively (2024: 32 and 35 days withdrawal notice periods, and 2.7% and 2.95% interest rates respectively).