v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - GBP (£)
£ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Loss for the year £ (6,384) £ (5,729) £ (7,079)
Adjustments for:      
Depreciation of property, plant and equipment 52 117 143
Depreciation of right of use asset 136 135 137
Amortisation of intangible fixed assets 1 2 3
Loss on disposal of  property, plant and equipment 29 4 2
Impairment of loan 79
Impairment of ELOC upfront fee 373
Finance income (2,385) (3,385) (570)
Finance expense 229 165 41
Share-based payment charge 170 283 28
Taxation (105) (250) (406)
Foreign exchange losses/(gains) (130) 4
Cash flows from operating activities before changes in working capital (8,014) (8,654) (7,622)
Decrease/(Increase) in trade and other receivables 2,629 (5,975) 365
(Decrease)/Increase in trade and other payables (913) 2,239 (207)
(Decrease)/Increase in provisions (207)
Cash used in operations (6,298) (12,390) (7,671)
Taxes received 707 129 845
Net cash used in operating activities (5,591) (12,261) (6,826)
Investing activities      
Purchases of property, plant and equipment (2) (9) (26)
Proceeds from disposal of fixed assets 18 4
Purchase of intangible asset/deferred consideration (689) (765) (237)
Loan granted (79)
Interest received 90 176 73
Net cash (used in)/generated from investing activities (583) (598) (265)
Financing activities      
Interest paid (14) (13)
Amounts paid on lease liabilities (246) (186) (188)
(Repayment)/Proceeds from promissory note (450) 431
Share issues including warrants, net of costs 13,749 8,312 10,427
Net cash generated from financing activities 13,039 8,557 10,226
Net increase/(decrease) in cash and cash equivalents 6,865 (4,302) 3,135
Cash and cash equivalents at beginning of year 1,669 5,971 2,836
Exchange (losses)/gains on cash and cash equivalents
Cash and cash equivalents at end of year £ 8,534 £ 1,669 £ 5,971