| Finance (costs)/income |
8Finance (costs)/income | | | | | | | | | | | 3 months ended June 30, | | 6 months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | £ 000 | | £ 000 | | £ 000 | | £ 000 | Interest income on deposits | | 487 | | 609 | | 1,009 | | 1,243 | Foreign exchange gain | | 1,739 | | 18,094 | | — | | 27,530 | Other | | — | | 4 | | — | | — | Total finance income | | 2,226 | | 18,707 | | 1,009 | | 28,773 | Fair value losses on financial liabilities at fair value through profit and loss (note 13) | | (4,607) | | (296) | | (4,717) | | (324) | Foreign exchange loss | | — | | — | | (6,010) | | — | Interest expense on leases | | (57) | | (41) | | (120) | | (78) | Total finance costs | | (4,664) | | (337) | | (10,847) | | (402) | Fair value gains on financial liabilities at fair value through profit and loss (note 13) | | 6,724 | | — | | 112,989 | | 258,719 | Total related party finance income | | 6,724 | | — | | 112,989 | | 258,719 | In-kind interest on financial liabilities at fair value through profit and loss (note 13) | | (3,699) | | (2,805) | | (6,956) | | (5,782) | Fair value losses on financial liabilities at fair value through profit and loss (note 13) | | — | | (140,404) | | — | | — | Total related party finance costs | | (3,699) | | (143,209) | | (6,956) | | (5,782) | Net related party finance income/(costs) | | 3,025 | | (143,209) | | 106,033 | | 252,937 | Net finance income/(costs) | | 587 | | (124,839) | | 96,195 | | 281,308 |
Gains and losses relating to financial liabilities at fair value through profit and loss disclosed within finance costs relate to the remeasurement of Series A Convertible Preferred Shares. Gains and losses relating to financial liabilities at fair value through profit and loss disclosed within related party finance income and costs relates to the remeasurement of Convertible Senior Secured Notes.
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