v3.26.1
Intangible assets
12 Months Ended
Dec. 31, 2025
Intangible assets  
Intangible assets

13Intangible assets

  ​ ​ ​

IT software

£ 000

Cost or valuation

 

  ​

At January 1, 2024

 

3,865

Additions

 

Disposals

(21)

At December 31, 2024

 

3,844

Additions

 

Disposals

(3,844)

At December 31, 2025

 

Accumulated amortization

 

  ​

At January 1, 2024

 

2,847

Amortization charge

 

885

Depreciation on disposals

(20)

At December 31, 2024

 

3,712

Amortization charge

 

131

Depreciation on disposals

(3,843)

At December 31, 2025

 

Net book value

 

  ​

At December 31, 2024

 

132

At December 31, 2025

 

The amortization charge of £131 thousand (2024: £885 thousand) is shown in Administrative expenses.

All intangible assets are third party software licenses attributable to the UK, which includes perpetual licenses and implementation costs. The carrying amounts of the software was reviewed at the reporting date and management determined that there were no indicators of impairment.