Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statement of Changes in Equity

v3.22.1
Consolidated Statement of Changes in Equity - GBP (£)
£ in Thousands
Share capital
Share premium
Merger reserve
Retained earnings
Foreign currency translation reserve
Total
Balance at Dec. 31, 2018 £ 31,500 £ (179) £ 31,321
Comprehensive loss for the year            
Loss for the Period (17,964) (17,964)
Other comprehensive income
Contributions by and distributions to owners            
Issue of share capital 50,000 50,000
Share based payments [1] 199 199
Balance at Dec. 31, 2019 81,500 (17,944) 63,556
Comprehensive loss for the year            
Loss for the Period (102,687) (102,687)
Other comprehensive income
Contributions by and distributions to owners            
Issue of share capital 365,870 365,870
Share based payments 3,759 3,759
Contributions by and distributions to owners            
Group restructuring   (181,250) 181,250
Balance at Dec. 31, 2020 [1] 266,120 181,250 (116,872) 330,498
Comprehensive loss for the year            
Loss for the Period (543,509) (543,509)
Other comprehensive income (1,577) (1,577)
Contributions by and distributions to owners            
Share based payments 43,287 43,287
Contributions by and distributions to owners            
Acquisition of subsidiaries [2] 5,365 65,348 70,713
Exercise of warrants 11,967 11,967
Recapitalization at the Transaction1 [1] 55 619,134 174,236 793,425
Exercise of options (1,540) (1,540)
Taxation on share based payments 7,425 7,425
Balance at Dec. 31, 2021 [1] £ 55 £ 902,586 £ 420,834 £ (611,209) £ (1,577) £ 710,689
[1] The consolidated financial statements are prepared as a continuation of the financial statements of Cazoo Holdings Limited, the accounting acquirer, with a recapitalization to reflect the capital structure of Cazoo Group Ltd. The 2020 comparatives are based on the operations of Cazoo Holdings Limited prior to the Transaction. The 2019 comparatives are based on a continuation of the operations of Cazoo Limited prior to the restructuring on June 10, 2020 where Cazoo Holdings Limited was inserted as a new parent company of Cazoo Limited resulting in a merger reserve. Refer to Note 1 for further details.
[2] Prior to the Transaction, the merger relief section of the Companies Act 2006 required that the difference between the nominal value and issued value of the shares issued for the acquisitions of Drover, SFS and Cluno should be credited to the merger reserve in equity.