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

Consolidated Statement of Cash Flows

v3.22.1
Consolidated Statement of Cash Flows
£ in Thousands
 12 Months Ended
Dec. 31, 2021
GBP (£)
Dec. 31, 2020
GBP (£)
Dec. 31, 2019
GBP (£)
Cash flows from operating activities      
Loss for the year £ (543,509) £ (102,687) £ (17,964)
Adjustments for:      
Depreciation of property, plant and equipment and right-of-use assets 28,791 11,759 705
Amortization and impairment of intangible assets 35,995 1,361 76
Finance income (233) (486) (170)
Finance expense 5,716 1,298 456
Share-based payment expense 43,871 3,759 199
IFRS 2 expense on the Transaction 240,810
Fair value movement in warrants (26,671)
Tax credit (5,704) (969)
Adjustments to reconcile profit (loss) (220,934) (85,965) (16,698)
Movements in working capital:      
Increase in trade and other receivables (23,192) (4,789) (12,158)
Increase in inventory (247,745) (36,961) (42,970)
Increase in subscription vehicles (80,925)
Increase in trade and other payables 16,074 10,394 4,123
Total working capital movements (335,788) (31,356) (51,005)
Other cash flows from operating activities:      
Interest received 233 478 149
Tax credit received 969
Net cash used in operating activities (556,489) (115,874) (67,554)
Cash flows from investing activities      
Purchases of property, plant and equipment (29,466) (17,919) (2,422)
Purchases and development of intangible assets (14,260) (1,889) (3,244)
Acquisition of subsidiaries, net of cash acquired (190,934) (16,530)
Net cash used in investing activities (234,660) (36,338) (5,666)
Cash flows from financing activities      
Net proceeds from the Transaction 622,164
Issue of ordinary shares 348,870 50,000
Proceeds from warrants exercised from Drover acquisition 5,300
Exercise of share options (1,540)
Proceeds from stocking loans 665,325 216,444 42,825
Proceeds from subscription facilities 107,683
Repayment of stocking loans (574,055) (196,082) (10,348)
Repayment of subscription facilities (60,386)
Repayment of bank loans and mortgages (683) (443)
Interest paid on loans and borrowings (4,185) (1,298) (456)
Lease payments (18,597) (6,294) (628)
Net cash from financing activities 741,026 361,197 81,393
Net increase in cash and cash equivalents (50,123) 208,985 8,173
Cash and cash equivalents at the beginning of the year 243,524 34,539 26,366
Net foreign exchange difference (772)
Cash and cash equivalents at the end of the year £ 192,629 £ 243,524 £ 34,539