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Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Significant accounting policies

Summary of details of subsidiaries

​

​	​	​	​	​	​	​	​	​	​
​						Proportion of
​	​	​	​	​	​	ownership	​	​
​	​	​	​	​	​	interest and	​	​
​	​	​	​	​	​	voting rights held	​	​
Name of subsidiary	​	Principal activity	​	Registered office	​	2021	​	2020
Vertical Aerospace Group Limited (“VAGL”)		Development and commercialization of eVTOL technologies.		Unit 1, Camwal Court, Bristol, United Kingdom BS2 0UW		100	%	—	%

Summary of estimated useful lives of property, plant and equipment

​

​	​	​
Asset class		Depreciation method and rate
Leasehold property under right of use	​	Straight line over term of lease
Computer equipment	​	3 years straight line
Leasehold improvements	​	5 - 9 years straight line

Summary of estimated useful lives of Intangible assets

​

​	​	​
Asset class		Amortization method and rate
IT software	​	3 years straight line

X

- Definition

The tabular disclosure of estimated useful lives of property, plant and equipment.

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The tabular disclosure of expected useful economic life of intangible assets.

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- Definition

The disclosure of interests in subsidiaries. [Refer: Subsidiaries [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph 2
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_2_b_i&doctype=Standard
-URIDate 2021-03-24

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