Other reserves Other reserves include all foreign currency differences arising from the translation of the financial statements. Actuarial reserves The actuarial reserve represents the cumulative remeasurement of defined benefit obligation recognised. 13. CASH AND CASH EQUIVALENTS GROUP COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m Cash and bank balances 514.3 397.8 469.3 304.7 Bank overdrafts (116.8) (180.3) (13.1) (119.7) Cash and cash equivalents 397.5 217.5 456.2 185.0 Cash in bank held with banks having the following credit ratings: GROUP COMPANY Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m A+ 263.0 300.4 225.8 207.3 AAA 1.2 1.6 1.2 1.6 Ba1 27.4 6.3 27.4 6.3 Baa3 162.9 71.6 155.1 71.6 BB 1.8 3.1 1.8 3.1 BBB 5.1 1.3 5.1 1.3 Baa1-Baa3 51.7 12.0 51.7 12.0 513.1 396.3 468.1 303.2 The Assets and Liabilities Committee (ALCO) oversees the credit ratings of counterparties on a regular basis and at the reporting date does not expect any losses from non-performance by the counterparties. The bank overdrafts are secured by floating charges on the assets of the borrowing companies. The rate of interest varies between 4.8% and 20.7% (2023: 4.8% and 17.1%) for the bank overdrafts. Explanatory Notes 30 September 2024 12. OTHER COMPREHENSIVE INCOME/(LOSS) continued 156
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