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

Consolidated Statement of Changes in Equity

v3.23.1
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, 2019 £ 81,500 [1] £ (17,944) [1] £ 63,556 [1]
Comprehensive loss for the year            
Loss for the year (102,687) (102,687)
Other comprehensive income
Contributions by and distributions to owners            
Issue of share capital 365,870 365,870
Group restructuring [1]   (181,250) 181,250
Share-based payments 3,759 3,759
Balance at Dec. 31, 2020 266,120 181,250 (116,872) 330,498
Comprehensive loss for the year            
Loss for the year (543,509) (543,509) [2]
Other comprehensive income (1,577) (1,577)
Contributions by and distributions to owners            
Acquisition of subsidiaries 5,365 [3] 65,348 [3] 70,713 [3]
Exercise of warrants 11,967 11,967
Recapitalization at the Transaction 55 [1] 619,134 [1] 174,236 [1] 793,425 [1]
Exercise of options (1,540) (1,540)
Share-based payments 43,287 43,287
Taxation recognized directly in equity 7,425 7,425
Balance at Dec. 31, 2021 [1] 55 902,586 420,834 (611,209) (1,577) 710,689
Comprehensive loss for the year            
Loss for the year   (703,884) (703,884)
Other comprehensive income   6,449 6,449
Contributions by and distributions to owners            
Acquisition of subsidiaries 23,051 23,051
Share-based payments 43,719 43,719
Taxation recognized directly in equity (7,425) (7,425)
Balance at Dec. 31, 2022 £ 55 £ 925,637 £ 420,834 £ (1,278,799) £ 4,872 £ 72,599
[1] The comparatives are based on the operations of Cazoo Holdings prior to the Transaction. The consolidated financial statements are prepared as a continuation of the financial statements of Cazoo Holdings, the accounting acquirer, with a recapitalization to reflect the capital structure of Cazoo Group Ltd. Refer to Note 1 for further details.
[2] The 2021 reporting period has been restated to show the EU segment as a discontinued operation.
[3] 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 Limited, Smart Fleet Solutions Limited and Cluno GmbH should be credited to the merger reserve in equity.