Leases (Tables)

12 Months Ended

Dec. 31, 2020

	2020			2019
	£	’000		£	’000
Balance at 1 January		36,578			-
Effect of adopting new accounting standards		(31	)		44,984
Additions		453			897
Remeasurements		(2,269	)		(6,849	)
Derecognition		(9,108	)		-
Depreciation charge for the year		(2,530	)		(2,454	)
		23,093			36,578

Maturity analysis – contractual undiscounted cash flows

	2020 £’000		2019 £’000
Less than one year		3,560		4,469
One to five years		9,607		16,834
More than five years		32,600		45,288
Total undiscounted lease liabilities		45,767		66,591

Lease liabilities included in the Consolidated Statements of Financial Position

Amounts recognized in the Consolidated Statements of Loss

	2020 £’000			2019 £’000
Interest on lease liabilities		2,401			2,947
Expenses relating to short-term leases		296			486
Expenses relating to leases of low-value assets		19			33
Interest on investment in sub-lease		(38	)		(9	)

Amounts recognized in the Consolidated Statement of Cash Flows		2020 £’000s				2019 £’000
Total cash outflow for leases			4,426				4,036

Future minimum rentals payable under non-cancellable operating leases as at December 31, are, as follows:

	2020 £’000		2019 £000’s		2018 £’000’s
Within one year		-		73		4,329
After one year but not more than five years		-		-		16,566
More than five years		-		-		60,691
		-		73		81,586

Lease income	2020 £’000		2019 £’000
Operating lease income		460		185
Finance lease income on the net investment in the lease		38		9

Maturity analysis – undiscounted finance lease income

	2020 £’000			2019 £’000
Less than one year		720			318
One to two years		96			300
Two to three years		-			12
Three to four years		-			-
Four to five years		-			-
More than five years		-			-
Total undiscounted finance lease income		816			630
Unearned finance income		(40	)		(39	)
Net investment in the lease		776			591

Maturity analysis – undiscounted operating lease income

	2020 £’000		2019 £’000		2018 £’000
Less than one year		-		96		176
One to two years		-		50		11
Two to three years		-		12		11
Three to four years		-		-		11
Four to five years		-		-		11
More than five years		-		-		-
Total undiscounted operating lease income		-		158		220