Share Capital and Share Premium (Tables)

6 Months Ended

Jun. 30, 2025

Disclosure Of Classes Of Share Capital [Abstract]

Summary of Share Capital and Share Premium


		June 30, 2025				December 31, 2024
		(in thousands)
		£				£
Share capital			9,832				5,681
Share premium			161,841				146,146

			171,673				151,827


		Number (in thousands)
		Nominal value £0.0004				Nominal value £0.04
Issued share capital comprises:
Ordinary shares			9,540,891				142,037
Deferred shares			15,040,466				—

			24,581,357				142,037

Summary of Movement in the Share Capital


		Number				Ordinary share capital				Deferred share capital				Share premium
		(in thousands)
Fully paid shares:						£				£				£
Balance at December 31, 2024			142,037				5,681				—				146,146
Exercise of share options			29				1				—				—
Issue of share capital			9,858				394				—				81
Share issue expenses			—				—				—				(14	)

Balance pre-subdivision and reclassification			151,924				6,076				—				146,213
Subdivision and reclassification of share capital			15,040,466				(6,016	)			6,016				—
Issue of share capital			61,323				25				—				722
Exercise of warrants			9,327,644				3,731				—				15,188
Share issue expenses			—				—				—				(282	)

Balance at June 30, 2025			24,581,357				3,816				6,016				161,841