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Consolidated Statement of Cash Flows - GBP (£)
£ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss for the period £ (94,375) £ (245,224) £ (12,326)
Adjustments to cash flows from non-cash items      
Depreciation and amortization 1,772 765 542
Depreciation on right of use assets 410 177 140
Finance (income)/costs (3,174) (32,498) 98
Related party finance costs   483 709
Share based payment transactions 23,189 101,608 96
Warrant expense   111,611  
Net exchange differences   853  
Income tax expense     4
Goodwill impairment 1,473    
Working capital adjustments (70,705) (62,225) (10,737)
Increase in trade and other receivables (6,206) (9,126) (2,062)
(Decrease)/Increase in trade and other payables (26,803) 43,801 787
Net cash flows used in operating activities (103,714) (27,550) (12,012)
Cash flows from investing activities      
Increase in deposits (59,250)    
Acquisitions of property plant and equipment (1,436) (790) (155)
Acquisition of intangible assets (571) (2,565) (233)
Rent guarantee deposits (1,700)    
Deferred consideration proceeds/(payments)   1 (300)
Net cash flows used in investing activities (62,957) (3,354) (688)
Cash flows from financing activities      
Proceeds from convertible loan notes   166,981  
Proceeds from related party borrowings   2,945 5,600
Repayment of related party borrowings   (737)  
Payments to lease creditors (484) (240) (220)
Proceeds from related party investment   3,779  
Cash acquired as part of Business Combination   4,728  
Proceeds from PIPE   67,257  
Proceeds from equity subscription line 7,733    
Movement in net parent investment     7,130
Net cashflows generated from financing activities 7,249 244,713 12,510
Net (decrease)/increase in cash at bank (159,422) 213,809 (190)
Cash at bank as at January 1 212,660 839 1,029
Effect of foreign exchange rate changes 9,689 (1,988)  
Cash at bank as at December 31 £ 62,927 £ 212,660 £ 839