| Lease liabilities and similar |
12.
Lease liabilities and similar
Maturity
analysis of leases and similar
Schedule
of maturity analysis
| June 30, 2023 |
|
Undiscounted
lease payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
453,121 |
|
|
|
154,075 |
|
|
|
299,046 |
|
| Between one year and five years |
|
|
1,788,060 |
|
|
|
341,587 |
|
|
|
1,446,473 |
|
| More than five years |
|
|
223,497 |
|
|
|
6,796 |
|
|
|
216,701 |
|
| Lease
Liabilities |
|
|
2,464,678 |
|
|
|
502,458 |
|
|
|
1,962,220 |
|
| December 31, 2022 |
|
Undiscounted
lease
payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
495,482 |
|
|
|
167,449 |
|
|
|
328,033 |
|
| Between one year and five years |
|
|
1,788,060 |
|
|
|
400,029 |
|
|
|
1,388,031 |
|
| More than five years |
|
|
446,766 |
|
|
|
22,347 |
|
|
|
424,419 |
|
| Lease
Liabilities |
|
|
2,730,308 |
|
|
|
589,825 |
|
|
|
2,140,483 |
|
The
balances relating to lease liabilities and similar can be further analyzed as follows:
Lease
liabilities
Schedule
of maturity analysis
| June 30, 2023 |
|
Undiscounted lease
payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
447,015 |
|
|
|
154,027 |
|
|
|
292,988 |
|
| Between one year and five years |
|
|
1,788,060 |
|
|
|
341,587 |
|
|
|
1,446,473 |
|
| More than five years |
|
|
223,497 |
|
|
|
6,796 |
|
|
|
216,701 |
|
| Lease Liabilities |
|
|
2,458,572 |
|
|
|
502,410 |
|
|
|
1,956,162 |
|
| December 31, 2022 |
|
Undiscounted lease
payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
451,029 |
|
|
|
166,069 |
|
|
|
284,960 |
|
| Between one year and five years |
|
|
1,788,060 |
|
|
|
400,029 |
|
|
|
1,388,031 |
|
| More than five years |
|
|
446,766 |
|
|
|
22,347 |
|
|
|
424,419 |
|
| Lease Liabilities |
|
|
2,685,855 |
|
|
|
588,445 |
|
|
|
2,097,410 |
|
The
principal leasing activities undertaken by the Group relate to the lease of property for the business.
An
incremental borrowing rate of 8.60% has been applied to leases during the reporting period. Total cash outflows in the period in relation
to leases are noted in the cash flow statement.
Sale
and leaseback arrangements
In
addition, the Group undertakes some sale and leaseback transactions to secure financing. From a review of the sale and leaseback agreements,
it is deemed that as no formal sale has occurred the Group continues to recognize the asset on the balance sheet with a corresponding
liability stated at amortized cost. There were no gains or losses recognized on sale and leaseback transactions in the period.
Schedule
of maturity analysis
| June 30, 2023 |
|
Undiscounted lease
payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
6,106 |
|
|
|
48 |
|
|
|
6,058 |
|
| December 31, 2022 |
|
Undiscounted lease
payments
|
|
|
Interest |
|
|
Present value |
|
| |
|
£ |
|
|
£ |
|
|
£ |
|
| Not later than one year |
|
|
44,452 |
|
|
|
1,380 |
|
|
|
43,073 |
|
| Lease Liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Set
out below are the carrying amounts of right-of-use assets recognized and the movements during the period:
Schedule of right-of-use
assets recognized
| |
|
Buildings £ |
|
|
Other £ |
|
|
Total £ |
|
| |
|
|
|
|
|
|
|
|
|
| At January 1, 2023 |
|
|
1,186,891 |
|
|
|
2,056 |
|
|
|
1,188,947 |
|
| Charge for the period |
|
|
(96,232 |
) |
|
|
(2,056 |
) |
|
|
(98,288 |
) |
| At June 30, 2023 |
|
|
1,090,659 |
|
|
|
- |
|
|
|
1,090,659 |
|
The
following amounts are recognized in the consolidated statement of comprehensive income/(loss) :
Schedule of recognized
comprehensive loss
| |
|
Six months ended June 30, |
|
|
Six months ended June 30, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
£ |
|
|
£ |
|
| Amortization of right of use assets |
|
|
98,288 |
|
|
|
98,289 |
|
| Interest on lease liabilities |
|
|
113,283 |
|
|
|
113,283 |
|
| Total |
|
|
211,571 |
|
|
|
211,572 |
|
|