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Loans from related parties (Tables)

12 Months Ended

Dec. 31, 2021

Loans from related parties

Summary of loans from related parties

​

​	​	​	​	​
​		December 31,		December 31,
​	​	2021	​	2020
​	​	£ 000	​	£ 000
Current loans and borrowings
Loans from related parties		—		6,309

​

Loans from related parties represents a loan from Imagination Industries Ltd, a company wholly owned by Stephen Fitzpatrick. Movements in the year were as follows:

​

​	​	​	​	​
​		2021		2020
​	​	£ 000	​	£ 000
As at January 1		6,309		—
Amounts advanced		2,945		5,600
Interest charged		483		709
Amounts repaid	​	(737)	​	—
Conversion to equity	​	(9,000)	​	—
As at December 31		—		6,309

During the year loans was issued to Microsoft Corporation and Rocket Internet SE. Movements in the year were as follows:

​

​	​	​
​		2021 £ 000
As at January 1	​	—
Amounts advanced		25,000
Interest charged		—
Amounts repaid		—
Conversion to equity		(25,000)
As at December 31		—

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+ References

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X

- Definition

The disclosure of transactions between the entity and its related parties. [Refer: Related parties [member]]

+ References

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-Name IAS
-Number 24
-IssueDate 2021-01-01
-Paragraph 18
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-URIDate 2021-03-24

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