Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Financial Instruments [Abstract]

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

	At June 30 2022 £’000		At December 31 2021 £’000
Financial assets at amortized cost
Trade receivables		19,467		14,796
Contract assets		1,385		3,451
Lease deposits		8,545		5,124
		29,397		23,371
Current		20,852		18,247
Non-current		8,545		5,124

Schedule of interest-bearing loans and borrowings

	Interest rate		At June 30 2022		At December 31 2021
	%	Maturity	£’000		£’000
Current
Lease liabilities	1 – 11%	Within one year		22,437		18,826
Convertible notes	2.00%	Within one year		1,299		—
Bank loans	2.00%	Within one year		165		635
Stocking loans	Base rate + 0.5% – 13.9%	On earlier of sale or 180 – 330 days / Within one year		196,101		169,170
Subscription facilities	Base rate +1.7% – 3.7%   3.15% – 6.0%	Within one year		25,479		10,188
Mortgages				—		547
				245,481		199,366
Non-current
Lease liabilities	1 – 11%	2023 – 2042		98,522		71,574
Convertible notes	2.00%	2027		358,361		—
Bank loans				—		815
Stocking loans	Base rate + 3.0% – 13.9%	2024		13,319		8,809
Subscription facilities	Base rate + 1.7% – 3.7%   3.15% – 12.0%	2023 – 2026		49,495		56,987
Mortgages				—		1,502
				519,697		139,687

Schedule of other financial liabilities

	At June 30 2022		At December 31 2021
	£’000		£’000
Financial liabilities at fair value through profit or loss
Warrants		5,675		42,692
Embedded derivative		112,562		—
		118,237		42,692
Current		—		—
Non-current		118,237		42,692

Schedule of Other financial liabilities

	Level 1		Level 2		Level 3		Total
At June 30, 2022	£’000		£’000		£’000		£’000
Warrants		1,493		—		4,182		5,675
Embedded derivative		—		—		112,562		112,562
		1,493		—		116,744		118,237

Schedule of fair value of the private warrants and the embedded derivative

	Private warrants			Embedded derivative
Expected term (years)		7			5
Expected volatility		89.7	%		58.3	%
Dividend yield		Nil			Nil
Risk free interest rate		3.0	%		3.0	%

Schedule of fair value movements

	Public warrants			Private warrants			Embedded derivative			Total
	£’000			£’000			£’000			£’000
At January 1, 2022		13,418			29,274			—			42,692
Issuances		—			—			251,288			251,288
Fair value movement		(13,441	)		(28,399	)		(168,085	)		(209,925	)
Foreign exchange movements		1,516			3,307			29,359			34,182
At June 30, 2022		1,493			4,182			112,562			118,237