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Expenses by nature (Tables) | 12 Months Ended
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Dec. 31, 2021
Expenses by nature |
Summary of expense by nature | Included within administrative expenses and research and development expenses are the following expenses. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
​ | ​ | £ 000 | ​ | £ 000 |  | £ 000
Staff costs excluding share-based payment expenses |  | 16,230 |  | 8,445 | ​ | 3,642
Share based payment expenses |  | 111,996 |  | 96 | ​ | —
Warrant expense (note 21) | ​ | 111,611 | ​ | — | ​ | —
Legal and financial advisory transaction costs | ​ | 7,350 | ​ | — | ​ | —
Software costs |  | 1,506 |  | 579 | ​ | 191
Depreciation expense |  | 377 |  | 279 | ​ | 89
Depreciation on right of use assets - Property |  | 176 |  | 140 | ​ | 171
Amortisation expense |  | 387 |  | 263 | ​ | 70
Consultancy costs |  | 13,144 |  | 745 | ​ | 518
Expense on short term leases |  | 49 |  | 64 | ​ | 8
Research and development components |  | 11,378 |  | 2,555 | ​ | 2,096
Related party administrative expenses |  | 108 |  | 144 | ​ | 144
Marketing expenses | ​ | 3,918 | ​ | — | ​ | —
Stamp duty | ​ | 6,669 | ​ | — | ​ | —
Other administrative expenses |  | 3,760 |  | 565 | ​ | 922
Total administrative and research and development expenses |  | 288,659 |  | 13,875 | ​ | 7,851
​
Summary of share based payment expense | ​
​ | ​ | ​
​ |  | 2021
​ | ​ | £ 000
Issuance of Z-Shares to American |  | 16,739
Capital reorganization |  | 84,712
Issuance of PIPE shares to suppliers and partners | ​ | 10,389
Enterprise Management Initiative |  | 156
​ |  | 111,996
Schedule of inputs used | ​
​ | ​ | ​ | ​
Risk-free rate |  | 0.75 | %
Dividend yield |  | — | ​
Volatility |  | 75 | %
Schedule of calculation of fair value of Z-Shares | ​
​ | ​ | ​ | ​ | ​
​ |  | Business |  | Business
​ | ​ | combination | ​ | combination does
​ | ​ | completes | ​ | not complete
​ | ​ | £’000 | ​ | £’000
Value of Z-Shares as at June 10, 2021 |  | 30,105 |  | 2,558
Less valuation of call option |  | (8,121) |  | —
Fair value of Z-Shares as at June 10, 2021 |  | 21,984 |  | 2,558
Schedule of cost of service | ​
​ | ​ | ​
​ |  | 2021
​ | ​ | £’000
Market value of 9,203,984 ordinary shares ($10.68 per share) |  | 74,265
Cash acquired |  | 4,728
Warrants acquired (15,701,067 warrants at $1.04 per warrant) |  | (11,997)
Accounts payable acquired |  | (2,289)
Add net liabilities acquired |  | (9,558)
Foreign exchange differences |  | 671
Charge for listing services |  | 83,152

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