Capital reserves

12 Months Ended

Dec. 31, 2022

Disclosure of reserves within equity [abstract]

26.

Capital reserves

The capital redemption reserve was created in 2012 following the reduction of nominal share capital to 0.1p per share. It is required under Section 733 of the Companies Act 2006, held to maintain the capital of the Company when shares are bought back and subsequently cancelled without court approval.

Due to the size of the deficit on the accumulated losses account, the Company has no distributable reserves.

The share premium account reflects the premium to nominal value paid on issuing shares less costs related to the issue. The merger reserve was created on issuance of shares relating to the acquisition of Silence Therapeutics GmbH.

The share-based payments reserve reflects the cost to issue share-based compensation, primarily employee share options.


	Share Premium account			Merger reserve		Share-based Payment reserve			Capital redemption reserve		Total
	£000s			£000s		£000s			£000s		£000s
At January 1, 2020		138,150			22,248		1,651			5,194		167,243
Shares issued		15,396			-		-			-		15,396
On options in issue during the year		-			-		4,395			-		4,395
On options exercised during the year		188			-		(331	)		-		(143	)
Movement in the year		15,584			-		4,064			-		19,648
At December 31, 2020		153,734			22,248		5,715			5,194		186,891
Shares issued		32,585			-		-			-		32,585
On options in issue during the year		-			-		8,632			-		8,632
On options exercised during the year		460			-		(659	)		-		(199	)
Costs capitalized in respect of issuance of shares during the period		(2,447	)									(2,447	)
Movement in the year		30,598			-		7,973			-		38,571
At December 31, 2021		184,332			22,248		13,688			5,194		225,462
Shares issued		45,533			-		-			-		45,533
On options in issue during the year		-			-		10,252			-		10,252
On options exercised during the year		153			-		(192	)		-		(39	)
Costs capitalized in respect of issuance of shares during the period		(3,348	)									(3,348	)
Movement in the year		42,338			-		10,060			-		52,398
At December 31, 2022		226,670			22,248		23,748			5,194		277,860