Annual Report & Accounts 2026
73
OUR FINANCIALS
21. TRADE AND OTHER PAYABLES
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Trade payables
–
–
12,118,282
10,222,352
Accrued expenses
31,247
37,221
13,702,473
11,529,447
Social security and other taxes
–
–
303,585
233,439
Total trade and other payables
31,247
37,221
26,124,340
21,985,238
Included within the above accrued expenses is the liability for lawyer fees associated with the accrued income (2026: £10,956,578; 2026: £9,595,543).
The fair value of the trade and other payables classified as financial instruments is disclosed in the financial instruments note.
The Group’s exposure to market and liquidity risks related to trade and other payables is disclosed in the financial risk management and impairment of financial assets note. The Group pays its trade payables on terms and as such trade payables are not yet due at the reporting dates.
22. LEASE LIABILITIES
Disclosures of the carrying amounts of the right-of-use assets by class and additions to right-of-use assets have been provided in the Property, plant and equipment note.
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Current lease liabilities
Lease liabilities
–
–
594,848
594,848
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Non-current lease liabilities
Lease liabilities
–
–
1,072,496
1,563,376
The Group leases two floors of an office building for use in its operations, the lease terms run for five years from April 2024. The leases do not contain an automatic option to extend the term; therefore, this has not been included in the lease liability. There are no material future cash outflows which the Group is exposed to, which are not reflected in the measurement of the lease liabilities.
The incremental borrowing rate applied to the Group’s lease arrangements is 5%. The carrying amounts of the lease obligations are all denominated in Pounds, with the fair value of the Group’s lease obligations being approximately equal to their carrying amounts.
The amounts charged to the income statement in respect of leases is comprised of two elements: the amortisation of the right-of-use asset (note 5) and the interest element (note 7). The total cash outflow in respect of leases was £594,851 (2026: £298,486).
OUR FINANCIALS
21. TRADE AND OTHER PAYABLES
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Trade payables
–
–
12,118,282
10,222,352
Accrued expenses
31,247
37,221
13,702,473
11,529,447
Social security and other taxes
–
–
303,585
233,439
Total trade and other payables
31,247
37,221
26,124,340
21,985,238
Included within the above accrued expenses is the liability for lawyer fees associated with the accrued income (2026: £10,956,578; 2026: £9,595,543).
The fair value of the trade and other payables classified as financial instruments is disclosed in the financial instruments note.
The Group’s exposure to market and liquidity risks related to trade and other payables is disclosed in the financial risk management and impairment of financial assets note. The Group pays its trade payables on terms and as such trade payables are not yet due at the reporting dates.
22. LEASE LIABILITIES
Disclosures of the carrying amounts of the right-of-use assets by class and additions to right-of-use assets have been provided in the Property, plant and equipment note.
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Current lease liabilities
Lease liabilities
–
–
594,848
594,848
Company
Group
2026 £ 2026 £ 2026 £ 2026 £ Non-current lease liabilities
Lease liabilities
–
–
1,072,496
1,563,376
The Group leases two floors of an office building for use in its operations, the lease terms run for five years from April 2024. The leases do not contain an automatic option to extend the term; therefore, this has not been included in the lease liability. There are no material future cash outflows which the Group is exposed to, which are not reflected in the measurement of the lease liabilities.
The incremental borrowing rate applied to the Group’s lease arrangements is 5%. The carrying amounts of the lease obligations are all denominated in Pounds, with the fair value of the Group’s lease obligations being approximately equal to their carrying amounts.
The amounts charged to the income statement in respect of leases is comprised of two elements: the amortisation of the right-of-use asset (note 5) and the interest element (note 7). The total cash outflow in respect of leases was £594,851 (2026: £298,486).