Share capital and reserves (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share capital and reserves |
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| Summary of allotted, called up and fully paid shares |
| | | | | | | | | | | June 30, | | December 31, | Allotted, called up and fully paid: | | 2026 | | 2025 | | | No. | | £ | | No. | | £ | Ordinary of $0.001 each | | 138,390,307 | | 107,041 | | 101,602,621 | | 79,328 | | | 138,390,307 | | 107,041 | | 101,602,621 | | 79,328 |
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| Summary of ordinary shares issued |
| | | | | | | | | | | Shares | | Share capital | | Proceeds | | Premium | | | issued | | issued | | received | | arising | | | No. | | £ | | £ 000 | | £ 000 | At the market programme | | 25,725,383 | | 19,512 | | 39,904 | | 39,885 | Conversion of Preferred Shares | | 10,192,489 | | 7,544 | | — | | 20,628 | ELOC commitment fee | | 334,448 | | 254 | | — | | 739 | 2021 Incentive Plan | | 517,057 | | 390 | | — | | — | EMI Scheme | | 18,309 | | 13 | | 31 | | 31 | | | 36,787,686 | | 27,713 | | 39,935 | | 61,283 |
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| Summary of nature and purpose of other reserves |
| | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | £ 000 | | £ 000 | Share-based payment reserve | | 36,053 | | 34,215 | Foreign currency translation reserve | | 15,341 | | 11,139 | Warrant reserve | | 36,638 | | 36,638 | Merger reserve | | 54,841 | | 54,841 | | | 142,873 | | 136,833 |
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| Schedule of warrants issued but not exercised |
| | | | | | | | | | | | | | | Warrants and options in issue | | Warrant reserve | | | | | Exercise | | June 30, | | December 31, | | June 30, | | December 31, | | | Issue Date | | price ($) | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | No. | | No. | | £ 000 | | £ 000 | Tranche A Warrants | | January 24, 2025 | | 6.00 | | 7,450,000 | | 7,450,000 | | 8,951 | | 8,951 | Tranche B Warrants | | January 24, 2025 | | 7.50 | | 7,500,000 | | 7,500,000 | | 14,212 | | 14,212 | SF Warrants | | March 13, 2024 | | 50.00 | | 50,000,000 | | 50,000,000 | | 3,907 | | 3,907 | Virgin Atlantic Warrants | | December 16, 2021 | | 100.00 | | 2,625,000 | | 2,625,000 | | 8,558 | | 8,558 | MWC Option | | December 16, 2021 | | 115.00 | | 2,000,000 | | 2,000,000 | | 1,010 | | 1,010 | Outstanding, end of period | | | | | | 69,575,000 | | 69,575,000 | | 36,638 | | 36,638 |
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