| Financial assets at amortized cost |
| | | | | | | | | | | Carrying value | | Fair value | | | December 31, | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2025 | | 2024 | | | £ 000 | | £ 000 | | £ 000 | | £ 000 | Cash and cash equivalents | | 69,082 | | 22,556 | | 69,082 | | 22,556 | Trade and other receivables | | 21,109 | | 18,297 | | 21,109 | | 18,297 | Restricted cash | | 1,224 | | 1,700 | | 1,224 | | 1,700 | | | 91,415 | | 42,553 | | 91,415 | | 42,553 |
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| Scheduled of financial liabilities by fair value hierarchy |
Financial liabilities at amortized cost: | | | | | | | | | | | Carrying Value | | Fair Value | | | December 31, | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2025 | | 2024 | | | £ 000 | | £ 000 | | £ 000 | | £ 000 | Trade and other payables | | 32,229 | | 15,585 | | 32,229 | | 15,585 | Lease liabilities | | 3,205 | | 2,201 | | 3,205 | | 2,201 | | | 35,434 | | 17,786 | | 35,434 | | 17,786 |
All balances have been recognized in level 2 of the fair value hierarchy. Financial liabilities at fair value through profit or loss: | | | | | | | | | | | Carrying Value | | Fair Value | | | December 31, | | December 31, | | December 31, | | December 31, | | | 2025 | | 2024 | | 2025 | | 2024 | | | £ 000 | | £ 000 | | £ 000 | | £ 000 | Financial liabilities at fair value through profit and loss | | 188,526 | | 524,242 | | 188,526 | | 524,242 | Warrant liabilities | | 287 | | 434 | | 287 | | 434 | | | 188,813 | | 524,676 | | 188,813 | | 524,676 |
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