Financial review23 Jun 2026 09:01
Statement of Financial Position
The Group’s cash and cash equivalents at 31 December 2025 amounted to £1.4 million (2024: £0.2 million),
reflecting funds raised during the year through equity issuance. Trade and other payables decreased to £1.2
million (2024: £1.5 million), primarily due to the settlement of trade creditors during the period.
At 31 December 2025, the Lanstead derivative financial asset amounted to £nil (2024: £0.2 million), following the
completion of the remaining sharing agreements during the year. The decrease reflects the year-end fair value
assessment, taking into account amounts received and gains recognised. Further details are provided in Note 15.
Results
The Group recorded a loss for the year of £2.1 million (2024: £2.5 million). Basic and diluted loss per share was
0.37p (2024:0.60p). In accordance with the Group’s loss making position, no dividend is proposed.