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116 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2023(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)13. Cash and short%u2013term deposits (continued)For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the following at 31 December:2023 2022$ $Cash at bank and on hand 17,530 17,037Money market fund 14 14Cash and cash equivalents 17,544 17,05114. Stated capital, treasury shares and other reservea) Issued and fully paid29,297 6% cumulative participating preference shares 1,465 1,46540,000,000 ordinary shares of no-par value 25,823 25,823 27,288 27,288The Company is authorised to issue an unlimited number of ordinary shares of no-par value.b) Treasury sharesAs detailed in Note 2 (xvi), the Group operates an Employee Share Ownership Plan (ESOP) in which shares purchased by the Plan are held in Trust. The cost of these unallocated ESOP shares is accounted for and disclosed within equity as treasury shares. The number and value of own equity shares (treasury shares) held by the Group are as follows:2023 2022Number of shares (000%u2019s) 100 100Carrying value of shares ($%u2019000s) 1,554 1,554The market value of treasury shares ($%u2019000s) 220 294