13. Financial Securities

The Company enters Self-Lay Connection Agreements which provide for the vesting in Uisce Éireann of water and wastewater services infrastructure installed by a customer following quality assurance of the self-lay works and connection to the Uisce Éireann network(s). To mitigate the risk of asset defects and risk exposure where sub standard work has been performed, a refundable financial security is received by the Company and held as collateral for the duration of the construction project and is released following completion of the project and a 12-month defects liability period. This security is calculated in accordance with the Connection Charging Policy. There are contractual restrictions on the Company’s ability to use these monies.

Financial securities held on deposit terms greater than 3 months at the date of acquisition are presented as “Financial assets”. The remainder are held in bank accounts that are accessible by the Company and therefore are presented as “Cash and cash equivalents - third party balances”.

Financial assets - financial security held on term deposit

31-Dec-24
€’000

31-Dec-23
€’000

Long-term deposits

40,000

72,250

Total

40,000

72,250

Cash and cash equivalents - third party balances

31-Dec-24
€’000

31-Dec-23
€’000

Cash in bank

71,408

6,322

Total

71,408

6,322