Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of financial instruments [text block] [Abstract]

Schedule of financial assets, other than cash and short-term deposits

	At December 31		At December 31		At December 31
	2021		2020		2019
	£’000		£’000		£’000
Financial assets at amortized cost
Trade receivables		14,796		7,243		291
Contract assets		3,451		599		8
Lease deposits		5,124		2,653		1,675
Total financial assets		23,371		10,495		1,974
Current		18,247		10,495		1,974
Non-current		5,124		-		-

Schedule of interest-bearing loans and borrowings

	Interest rate		At December 31 2021		At December 31 2020		At December 31 2019
	%	Maturity	£’000		£’000		£’000
Current
Lease liabilities	1 – 8%	Within one year		18,826		6,540		1,510
Bank loans	Base rate + 3.25% – 3.75% 2.5% – 7.67%	Within one year		635		-		-
Stocking loans	Base rate + 0.5% – 3%	On earlier of sale or 180 days / Within one year		169,170		86,709		32,477
Subscription facilities	Base rate +1.7% – 3.7% +3.15 – 6%	Within one year		10,188		-		-
Mortgages	Base rate + 2%	Within one year		547		1,368		-
				199,366		94,617		33,987
Non-current
Lease liabilities	1 – 8%	2023 – 2117		71,574		41,508		4,358
Bank loans	Base rate + 3.25% – 3.75% 2.5% – 7.67%	2023 – 2025		815		-		-
Stocking loans	Base rate + 3%	2023		8,809		-		-
Subscription facilities	Base rate + 1.7% – 3.7% 4.05% – 6%	2023 – 2025		56,987		-		-
Mortgages	Base rate + 2%	2023 – 2025		1,502		2,126		-
				139,687		43,634		4,358

	At December 31		At December 31		At December 31
	2021		2020		2019
	£’000		£’000		£’000
Financial liabilities at fair value through profit or loss
Warrants		42,692		-		-
Current		-		-		-
Non-current		42,692		-		-

Schedule of profit before tax is affected through the impact on floating rate borrowings

	Increase/decrease		Effect on profit before tax 2021			Effect on profit before tax 2020
	in basis points		£’000			£’000
Loans and borrowings		+100		(1,393	)		(298	)
Loans and borrowings		-100		95			200

Schedule of exposure to foreign currency changes for all other currencies is not material

	Increase/decrease			Effect on profit before tax			Effect on pre-tax equity
	in EUR rate			£’000			£’000
2021		+5	%		(1,336	)		(1,170	)
		-5	%		1,336			1,170
2020		+5	%		-			-
		-5	%		-			-

Schedule of financial liabilities based upon contractual undiscounted payments

	Less than one year		1 to 5 years		Over 5 years		Total
At December 31, 2021	£’000		£’000		£’000		£’000
Bank loans		741		869		-		1,610
Stocking loans		169,170		8,809		-		177,979
Subscription facilities		12,155		65,797		-		77,952
Lease liabilities		18,917		46,772		34,526		100,215
Mortgages		600		1,653		-		2,253
Trade payables		29,224		-		-		29,224
Total		230,807		123,900		34,526		389,233

	Less than one year		1 to 5 years		Over 5 years		Total
At December 31, 2020	£’000		£’000		£’000		£’000
Stocking loans		86,709		-		-		86,709
Lease liabilities		7,603		25,243		21,052		53,898
Mortgages		1,385		2,230		-		3,615
Trade payables		12,668		-		-		12,668
Total		108,365		27,473		21,052		156,890

	Less than one year		1 to 5 years		Over 5 years		Total
At December 31, 2019	£’000		£’000		£’000		£’000
Stocking loans		32,477		-		-		32,477
Lease liabilities		1,429		4,943		-		6,372
Trade payables		1,867		-		-		1,867
Total		35,773		4,943		-		40,716

Schedule of changes in liabilities arising from financial activities

	Bank loans			Stocking loans			Subscription facilities			Lease liabilities			Mortgages			Warrants			Total
	£’000			£’000			£’000			£’000			£’000			£’000			£’000
At December 31, 2019		-			32,477			-			5,868			-			-			38,345
New leases		-			-			-			19,850			-			-			19,850
Acquisition of subsidiary		-			33,870			-			27,972			3,937			-			65,779
Issue of debt		-			216,444			-			-			-			-			216,444
Repayment		-			(196,082	)		-			(6,294	)		(443	)		-			(202,819	)
Interest on lease liabilities		-			-			-			652			-			-			652
At December 31, 2020		-			86,709			-			48,048			3,494			-			138,251
New leases		-			-			-			26,228			-			-			26,228
Acquisition of subsidiaries		1,468			-			19,878			36,352			-			6,566			64,264
Issue of debt		30			665,325			107,683			-			-			-			773,038
Repayment		(48	)		(574,055	)		(60,386	)		(18,597	)		(1,445	)		-			(654,531	)
Terminations		-			-			-			(2,969	)		-			-			(2,969	)
Interest on lease liabilities		-			-			-			1,338			-			-			1,338
Warrants issued and exercised		-			-			-			-			-			62,695			62,695
Fair value movements		-			-			-			-			-			(26,569	)		(26,569	)
At December 31, 2021		1,450			177,979			67,175			90,400			2,049			42,692			381,745

Schedule of stocking loans are used specifically by the group to finance the purchase of inventory

	At December 31 2021			At December 31 2020			At December 31 2019
	£’000			£’000			£’000
Inventory		364,585			114,694			42,970
Stocking loans		(177,979	)		(86,709	)		(32,477	)
Net inventory		186,606			27,985			10,493
Cash and cash equivalents		192,629			243,524			34,539