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Financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Financial instruments |
Schedule of financial assets at amortized cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying value |  | Fair value
​ |  | December 31, |  | December 31, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020
Cash at bank |  | 212,660 |  | 839 |  | 212,660 |  | 839
Trade and other receivables |  | 672 |  | 810 |  | 672 |  | 810
​ |  | 213,332 |  | 1,649 |  | 213,332 |  | 1,649
Schedule of financial liabilities | Financial liabilities at amortized cost: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying Value |  | Fair Value
​ |  | December 31, |  | December 31, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020
​ | ​ | £ 000 | ​ | £ 000 | ​ | £ 000 | ​ | £ 000
Trade and other payables |  | 45,717 |  | 2,128 |  | 45,717 |  | 2,128
Borrowings |  | — |  | 6,309 |  | — |  | 6,309
Lease liabilities |  | 1,942 |  | 1,021 |  | 1,942 |  | 1,021
​ |  | 47,659 |  | 9,458 |  | 47,659 |  | 9,458
​ ​ 25 Financial instruments (continued) Financial liabilities at fair value through profit or loss: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying Value |  | Fair Value
​ |  | December 31, |  | December 31, |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020
​ | ​ | £ 000 | ​ | £ 000 | ​ | £ 000 | ​ | £ 000
Convertible Senior Secured Notes | ​ | 112,799 |  | — | ​ | 112,799 |  | —
Warrant liabilities (Note 21) | ​ | 10,730 |  | — | ​ | 10,730 |  | —
​ | ​ | 123,529 |  | — | ​ | 123,529 |  | —
Schedule of estimated fair value of convertible senior secured notes by using binomial lattice framework | ​
​ | ​ | ​
​ |  | December 31,
​ | ​ | 2021
Interest rate (%) |  | 9.0
Risk-free rate (%) |  | 1.25
Dividend yield | ​ | —
Volatility (%) |  | 52.5
Credit spread (%) |  | 21.8

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