The other issue is HMRC doesn't like companies keeping piles of cash for a long time. It expects that excess cash will be distributed as dividends and taxed accordingly. Hoarding cash risks being seen as trying to avoid tax on dividends to get Entrepreneur's relief / BARD later on.
Unless you need to keep a certain amount as capital requirements. Obviously banking is different to other industries and you are correct. Even with higher rates currently larger cash reserves should be made to work in investments ideally
The other issue is HMRC doesn't like companies keeping piles of cash for a long time. It expects that excess cash will be distributed as dividends and taxed accordingly. Hoarding cash risks being seen as trying to avoid tax on dividends to get Entrepreneur's relief / BARD later on.