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v3.25.2

Unaudited Condensed Consolidated Interim Statements of Cash Flows - GBP (£) £ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2025 | Jun. 30, 2024
Cash flows from operating activities |  |
Net profit/(loss) for the period | £ 250,962 | £ (17,121)
Adjustments to cash flows from non-cash items |  |
Depreciation and amortization | 573 | 1,094
Depreciation on right of use assets | 360 | 326
Net finance (income)/costs | (28,371) | 3,629
Related party finance income | (252,937) |
Share based payment transactions | 3,207 | 4,785
Income tax credit | (19,592) | (6,448)
Non-cash gain (settled in treasury shares) |  | (803)
Cash from operations before working capital adjustments | (45,798) | (14,538)
Decrease/(increase) in trade and other receivables | 5,776 | (3,035)
(Decrease)/increase in trade and other payables | 18 | 84
Income taxes received | 13,700 | 15,838
Net cash flows used in operating activities | (26,304) | (1,651)
Cash flows from investing activities |  |
Acquisitions of property, plant and equipment | (203) | (391)
Interest received | 1,241 | 1,168
Net cash flows from investing activities | 1,038 | 777
Cash flows from financing activities |  |
Proceeds from share issuance | 34,235 |
Proceeds from issues of warrants | 18,032 |
Proceeds from issues of shares to related party | 12,986 | 15,629
Proceeds from issues of warrants to related party | 6,840 | 3,907
Transaction costs on issuance of equity instruments | (4,796) |
Payments to lease creditors | (521) | (396)
Net cash flows generated from financing activities | 66,776 | 19,140
Net increase in cash at bank | 41,510 | 18,266
Cash at bank, beginning of the period | 22,556 | 48,680
Effect of foreign exchange rate changes | (2,082) | (160)
Cash at bank, end of the period | £ 61,984 | £ 66,786

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