7 Cash and cash equivalents

Cash and cash equivalents of €74 million (€2 million as at 31 December 2013) refer to current account deposits with banks and relate mainly to: (i) deposit accounts set up for portfolio transactions in the distribution segment (€47 million); and (ii) cash at Gasrule Insurance Ltd for the performance of the group’s insurance activities (€25 million).

The book value of cash and cash equivalents approximates to their fair value. They are not subject to any usage restrictions.

A comprehensive analysis of the financial situation and major cash commitments during the year can be found in the statement of cash flows.