Page 116 - ENAV eng_Relazione_Finanziaria_Annuale_2014

114 ENAV – 2014 Financial Statements

their bank accounts and in certain cases properties.

Due from public bodies for financed projectsamounting to ¤4,754
thousandmainly relates to the portion of co-financing relating to the year
with respect to the SESAR program, for which the accounts will be drawn
up in 2015.The amount of ¤4,167 thousand recognized in the previous year
was collected in 2014.The remainder of this item relates to training funded
by Fondimpresa and other European projects.

Guarantee depositsdecreased by ¤167 thousand over the yearfollowing
the refund of the deposit relating to the offices in Via Agri on termination
of the rental agreement.

Sundry receivablesconsist of advances of ¤461 thousand made to third
party suppliers with whom certain litigation is pending. The balance
isunchanged overthat at 31 December 2013.

14. Cash and cash equivalents

Cash and cash equivalents at 31 December 2014 can be analyzed as
follows:

Bank and post office 31.12.2014 31.12.2013 Change
deposits 118,181 94,238 23,943
72 63
Cash and valuables 118,253 94,301 9
on hand 23,952

Total

Cash and cash equivalents with banks and the Central Treasury amounted
to ¤118,181 thousand at 31 December 2014, representing a net increase of
¤23,943 thousand over the balance at 31 December 2013. This is due to
the cash arising from a new loan taken out by the parent company and the
liquidity brought into the Group by the subsidiary ENAV North Atlantic.

A lien on a bank account of ¤1,117 thousand arranged in favor of a bank
as security for the payment of certain invoices issued to the subsidiary
Techno Sky and sold without recourse to a factoring company, and subject
to dispute, was extinguished during the year.

There are no restrictions on cash and cash equivalents that may limit their
availability.