v3.22.2.2
Unaudited Condensed Consolidated Statement of Changes in Equity - GBP (£)
£ in Thousands
Share capital
Share premium
Merger reserve
Retained earnings
Foreign currency translation reserve
Total
Beginning balance at Dec. 31, 2020 [1] £ 266,120 £ 181,250 £ (116,872) £ 330,498
Comprehensive loss for the period            
Loss for the period (102,113) (102,113)
Other comprehensive income 76 76
Total comprehensive loss (102,113) 76 (102,037)
Contributions by and distributions to owners            
Acquisition of subsidiaries [2] 65,348 65,348
Share-based payments 12,505 12,505
Ending balance at Jun. 30, 2021 266,120 246,598 (206,480) 76 306,314
Beginning balance at Dec. 31, 2021 [1] 55 902,586 420,834 (611,209) (1,577) 710,689
Comprehensive loss for the period            
Loss for the period (241,458) (241,458)
Other comprehensive income 4,031 4,031
Total comprehensive loss (241,458) 4,031 (237,427)
Contributions by and distributions to owners            
Acquisition of subsidiaries 23,051 23,051
Share-based payments 34,590 34,590
Taxation recognized directly in equity (7,426) (7,426)
Ending balance at Jun. 30, 2022 £ 55 £ 925,637 £ 420,834 £ (825,503) £ 2,454 £ 523,477
[1] The 2021 comparatives are based on the operations of Cazoo Holdings prior to the Transaction. The unaudited condensed consolidated interim financial statements are prepared as a continuation of the financial statements of Cazoo Holdings, the accounting acquirer, with a recapitalization to reflect the capital structure of Cazoo Group Ltd. Refer to Note 1 for further details.
[2] Prior to the Transaction, the merger relief section of the Companies Act 2006 required that the difference between the nominal value and issued value of the shares issued for the acquisitions of Drover Limited, Smart Fleet Solutions Limited and Cluno GmbH should be credited to the merger reserve in equity.