| Cash and cash equivalents and cash flow supporting notes |
| 14 | Cash and cash equivalents and cash flow supporting notes |
Cash and cash equivalents for purposes of the consolidated statement
of cash flows comprises:
During 2025, 2024 and 2023, cash inflows arose from equity financing
transactions, included within financing activities on the face of the cash flow statement. As part of the equity transactions entered
in December 2025, July and May 2024 and December and May 2023 warrants to the value of £5.0 million ( 2024: £3.1 million;
2023: £4.6 million) were issued as disclosed in note 19.
The following changes in loans and borrowings arose as a result of
financing activities during the year:
| Schedule of changes in bank loan liabilities | |
| | | |
| | | |
| | |
| | |
Non-current
liabilities
£’000 | | |
Current
liabilities
£’000 | | |
Total
£’000 | |
| At 1 January 2025 | |
| 1,424 | | |
| 1,530 | | |
| 2,954 | |
| Cash flows | |
| – | | |
| (1,399 | ) | |
| (1,399 | ) |
| Non-cashflows: | |
| | | |
| | | |
| | |
| Foreign exchange | |
| – | | |
| (132 | ) | |
| (132 | ) |
| Loans and borrowings classified as non-current 31 December 2024 becoming current in 2025 | |
| (779 | ) | |
| 779 | | |
| – | |
| Transfer to share premium on exercise of warrants | |
| – | | |
| (196 | ) | |
| (196 | ) |
| Warrants issued | |
| – | | |
| 5,024 | | |
| 5,024 | |
| Gain recognised in finance income within the consolidated statement of comprehensive income | |
| – | | |
| (2,296 | ) | |
| (2,296 | ) |
| Interest accruing in period | |
| – | | |
| 229 | | |
| 229 | |
| At 31 December 2025 | |
| 645 | | |
| 3,539 | | |
| 4,184 | |
| | |
Non-current
liabilities
£’000 | | |
Current
liabilities
£’000 | | |
Total
£’000 | |
| At 1 January 2024 | |
| 295 | | |
| 4,329 | | |
| 4,624 | |
| Cash flows | |
| – | | |
| (460 | ) | |
| (460 | |
| Non-cashflows: | |
| | | |
| | | |
| | |
| Foreign exchange | |
| – | | |
| (26 | ) | |
| (26 | ) |
| Loans and borrowings classified as non-current 31 December 2023 becoming current in 2024 | |
| (412 | ) | |
| 412 | | |
| – | |
| Deferred consideration on acquisition | |
| 1,541 | | |
| 456 | | |
| 1,997 | |
| Promissory note issued | |
| – | | |
| 431 | | |
| 431 | |
| Warrants issued | |
| – | | |
| 3,059 | | |
| 3,059 | |
| Exercise of warrants – transfer to share premium | |
| – | | |
| (3,618 | ) | |
| (3,618 | ) |
| Gain recognised in finance income within the consolidated statement of comprehensive income | |
| – | | |
| (3,218 | ) | |
| (3,218 | ) |
| Interest accruing in period | |
| – | | |
| 165 | | |
| 165 | |
| At 31 December 2024 | |
| 1,424 | | |
| 1,530 | | |
| 2,954 | |
| | |
Non-current
liabilities
£’000 | | |
Current
liabilities
£’000 | | |
Total
£’000 | |
| At 1 January 2023 | |
| 463 | | |
| 246 | | |
| 709 | |
| Cash flows | |
| – | | |
| (188 | ) | |
| (188 | ) |
| Non-cashflows: | |
| | | |
| | | |
| | |
| Loans and borrowings classified as non-current 31 December 2022 becoming current in 2023 | |
| (168 | ) | |
| 168 | | |
| – | |
| Warrants issued | |
| – | | |
| 4,562 | | |
| 4,562 | |
| Gain recognised in finance income within the consolidated statement of comprehensive income | |
| – | | |
| (487 | ) | |
| (487 | ) |
| Interest accruing in period | |
| – | | |
| 28 | | |
| 28 | |
| At 31 December 2023 | |
| 295 | | |
| 4,329 | | |
| 4,624 | |
|