Revenue

6 Months Ended

Jun. 30, 2021

Revenue [Abstract]

Revenue

3. Revenue

3.1. Disaggregated revenue information

The following is an analysis of the Group’s revenue for the period from continuing operations. The Group’s Chief Operating Decision Maker (CODM) has been identified as the Board of Directors. Management assesses and monitors the revenue performance of the Group as a single segment in line with the way the Group is assessed and managed by the CODM.

All material revenue recognised has arisen within the UK.

	June 30 2021 £’000		June 30 2020 £’000
Revenue:
Retail		207,948		36,902
Wholesale		12,774		2,509
Other sales		27,487		534
Revenue		248,209		39,945

Other sales include commission revenue from finance and warranty sales where the Group is not the principal of the transaction and revenue is recognised on a net basis.

Recognition of revenue

Revenue from contracts with customers	240,530	39,945
Other revenue	7,679	-
	248,209	39,945

All revenue from contracts with customers are recognised at a point in time.

3.2. Contract balances

	June 30 2021 £’000			December 31 2020 £‘000
Trade receivables		12,715			7,243
Contract assets		153			599
Contract liabilities		(15,668	)		(9,059	)

All contract assets and liabilities are short term in nature and are derecognised within one month of the reporting period end across both June 30, 2021 and December 31, 2020 financial periods.

Revenue expected to be recognised in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the period end is summarised as below.

	Within one month as at June 30, 2021 £’000		Within one month as at December 31, 2020 £’000
Undelivered vehicles		13,678		9,059