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Cash and cash equivalents

12 Months Ended

Dec. 31, 2019

17	Cash and cash equivalents

Cash and cash equivalents are analysed as follows:


	31/12/19		31/12/18
Cash on hand		188		439
Bank accounts		39,611		61,692

Total		39,799		62,131

As at December 31, 2019 the Chinese subsidiary Italsofa Shanghai Ltd has a deposit of 13,090 with a domestic bank. The remittance of such cash to the Parent in Italy could take 3 to 4 months due to the local requirements that need to be complied with before this can take place.

Cash and cash equivalents denominated in foreign currencies as at December 31, 2019 and 2018 amount to 36,031 and 49,413, respectively. Furthermore, the following tables show the Group’s cash and cash equivalents broken-down by region.


	31/12/19		31/12/18
Europe		21,168		40,479
China		16,572		18,290
North America		1,317		2,857
South America		575		318
Other		167		187

Total		39,799		62,131

For the purpose of the statement of cash flows, cash and cash equivalents comprise the following:


	31/12/19			31/12/18			31/12/17
Cash and cash equivalents in the statement of financial position		39,799			62,131			55,035
Bank overdrafts repayable on demand		(1,974	)		(1,762	)		—

Cash and cash equivalents in the statement of cash flows		37,825			60,369			55,035

Bank overdrafts repayable on demand form an integral part of the Group’s cash management.