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Expenses by nature (Tables)

12 Months Ended

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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