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Financial instruments (Tables) | 6 Months Ended
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Jun. 30, 2025
Financial instruments |
Scheduled of financial liabilities by fair value hierarchy | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Fair Value
​ | ​ | June 30, 2025 | ​ | December 31, 2024 | ​ | June 30, 2025 | ​ | December 31, 2024
​ |  | £ 000 |  | £ 000 |  | £ 000 |  | £ 000
Financial liabilities at fair value through profit and loss |  | 239,776 |  | 524,242 |  | 239,776 |  | 524,242
Warrant liabilities |  | 704 |  | 434 |  | 704 |  | 434
​ |  | 240,480 |  | 524,676 |  | 240,480 |  | 524,676
Schedule of fair value measurement inputs for valuation of convertible loan notes | ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, 2025 |  | December 31, 2024
Share price ($) |  | 6.77 | ​ | 12.58
Conversion price ($) |  | 3.50 | ​ | 3.50
Interest rate (%) |  | 12.00 | ​ | 12.00
Credit spread (%) | ​ | 43.50 | ​ | 40.64
Risk free rate (%) | ​ | 3.70 | ​ | 4.40
Expected life (years) | ​ | 3.50 | ​ | 4.00
Dividend yield (%) | ​ | — | ​ | —
Volatility (%) |  | 85.00 | ​ | 85.00

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