Company registration number SC682509 (Scotland)
SUTHERLAND SPACEPORT LTD
(FORMERLY KNOWN AS FORRES NEWCO LIMITED)
ANNUAL REPORT AND FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2022 AND AS AT 31 DECEMBER 2021
SUTHERLAND SPACEPORT LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 14
SUTHERLAND SPACEPORT LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2022
31 December 2022
AND 31 DECEMBER 2021
- 1 -
31 December
31 December
2022
2021
as restated
Notes
£
£
Non-current assets
Right-of-use assets
5
1,531,321
Total non-current assets
1,531,321
-
Current assets
Other receivables
6
100,000
100,000
Total current assets
100,000
100,000
Total assets
1,631,321
100,000
Current liabilities
Trade and other payables
7
133,448
Lease liabilities
8
92,888
-
Total current liabilities
226,336
-
Non-current liabilities
Lease liabilities
8
1,348,495
-
Total non-current liabilities
1,348,495
-
Total liabilities
1,574,831
-
Net assets
56,490
100,000
Equity
Share capital
9
100,000
100,000
Accumulated deficit
11
(43,510)
Total equity
56,490
100,000
SUTHERLAND SPACEPORT LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022 AND 31 DECEMBER 2021
- 2 -
The Company's annual accounts and reports have been delivered to the registrar in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.
The financial statements were approved by the board of Directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr. S Beswick
Director
The accompanying notes are an integral part of these financial statements.
Company Registration No. SC682509
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Sutherland Spaceport Ltd is a private Company limited by shares and domiciled and incorporated in Scotland. The registered office is 5 Forres Enterprise Park, Forres, Morayshire, United Kingdom, IV36 2AB, which is also the trading address.
1.1
Basis of preparation
The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards in conformity with the requirements of the Companies Act 2006.
The financial statements are presented in Great British Pounds (GBP) which is the presentation currency of the Group to which the Company belongs. Monetary amounts in these financial statements are rounded to the nearest GBP.
In the prior accounting period the financial statements were presented in United States Dollars (USD) which was the presentational currency of the Group to which the Company belongs. The Group and Company changed the presentational currency in 2022 to align with its functional currency, this is also the currency in circulation where the Group and Company are located.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below and are applied consistently throughout the years presented.
As permitted by FRS 101, the Company has taken advantage of the following disclosure exemptions from the requirements of IFRS
inclusion of an explicit and unreserved statement of compliance with IFRS;
presentation of a statement of cash flows and related notes;
disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;
the effect of financial instruments on the statement of comprehensive income;
disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;
related party disclosures for transactions with the parent or wholly owned members of the group.
Where required, equivalent disclosures are given in the Group accounts of Orbital Express Launch Limited. The Group accounts of Orbital Express Launch Limited are available to the public and can be obtained on request.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.2
Change in presentational currency
The Directors have elected to change the Company's presentation currency from United States Dollars (USD) to Great British Pounds (GBP) effective from 1 January 2022.
GBP is the currency in circulation where the Company and it's Parent Company resides. The Directors consider a change in presentational currency to align with the functional currency of the Company and the Group to which it belongs will provide greater clarity of the Company's financial performance. The change additionally aligns with the current investor base and their expectations.
In order to satisfy the requirements of IAS 21 with respect to a change in presentational currency, the statutory financial information as previously reported in the Group’s annual reports has been restated from USD into GBP using the procedures outlined below:
Share capital, share premium and other reserves were translated at the historic rates prevailing at the dates of transactions with resulting differences taken to the foreign currency translation reserve.
All exchange rates used were extracted from the Group’s underlying financial records
The change in presentation currency is a voluntary change which is accounted for retrospectively.
1.3
Going concern
The Company is reliant on funding from its Parent Company to continue as a going concern.
The Group consolidated financial statements of the Parent Company included a material uncertainty related to going concern regarding future funding and grant income which are not guaranteed. This would have a direct impact on the Parent Company’s ability to provide required financial support to the Company and as a result this indicates that a material uncertainty exists which may cast significant doubt on the Company’s ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.
The Directors of the Parent Company remain confident these funding sources, in addition to the grant income will be sufficient to allow the Group to continue as a going concern and therefore the going concern basis of preparation is deemed appropriate for the Company.
These financial statements do not include any adjustments that would result from the basis of preparation no longer be appropriate.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.4
Leases
At inception, the Company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. The Company has chosen to apply a practical expedient whereby it does not reassess whether a contract is or contains a lease at inception. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
Where a tangible asset is acquired through a lease, the Company recognises a right-of-use asset and a lease liability at the lease commencement date. Leases which are short term or low value are excluded from the right-of-use asset and lease liability and are instead accounted for by spreading the lease payments straight line over the lease term.
Right-of-use assets are presented as a separate line on the face of the Consolidated Statement of Financial Position. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.
The right-of-use asset is subsequently depreciated using the straight-line method from the commencement
date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The
estimated useful lives of right-of-use assets are determined on the same basis as those of other tangible fixed assets. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.
The lease liability is initially measured at the present value of the lease payments that are unpaid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the Company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the Company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.
The lease liability is measured at amortised cost using the effective interest method. It is remeasured when
there is a change in: future lease payments arising from a change in an index or rate; the Company's estimate of the amount expected to be payable under a residual value guarantee; or the Company's assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.
1.5
Financial instruments
Financial instruments are recognised in the Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, and the net amounts presented in the financial statements only when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
Financial assets
Initial recognition and measurement
Financial assets may be classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income, and fair value through profit or loss.
The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company's business model for managing them.
In order for a financial asset to be classified and measured at amortised cost or fair value through other comprehensive income, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model.
The Company's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows while financial assets classified and measured at fair value through other comprehensive income are held within a business model with the objective of both holding to collect contractual cash flows and selling.
The Company has considered the SPPI test and Business Model test and currently measures its financial assets at amortised cost. Financial assets, which include other receivables and cash and cash equivalents, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
The Company recognises a loss allowance for expected credit losses on debt instruments that are measured at amortised cost or at Fair Value Through Other Comprehensive Income. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.
The Company recognises lifetime Expected Credit Losses (ECL) when there has been a significant increase in credit risk since initial recognition. However, if the credit risk on the financial instrument has not increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to 12-month ECL.
Lifetime ECL represents the expected credit losses that will result from all possible default events over the expected life of a financial instrument. In contrast, 12-month ECL represents the portion of lifetime ECL that is expected to result from default events on a financial instrument that are possible within 12 months after the reporting date.
For financial assets, the expected credit loss is estimated as the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the Company expects to receive, discounted at the original effective interest rate.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 7 -
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial liabilities
Financial liabilities, including payables and bank loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not discounted.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer payable at the discretion of the Company.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 8 -
1.7
Taxation
Deferred tax
Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted.
Deferred tax assets are recognised for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses. The carrying amount of recognised and unrecognised deferred tax assets are reviewed at each reporting date.
Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously.
1.8
Foreign exchange
Transactions in currencies other than pounds Sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future years
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Lease term
In determining lease terms the Company assesses whether it is reasonably certain to exercise, or not to exercise, options to extend or terminate a lease. This assessment is made at the start of the lease and is re-assessed if significant events of changes in circumstances occur that are within the lessee’s control. Right-of-use assets and lease liabilities are remeasured where the termination of a lease is considered reasonably certain, and the value of the lease payments due are known.
Going concern
The Company's financial statements have been presented on a going concern basis, which assumes that we will continue in operation for at least a period of one year after the date these financial statements are issued and contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
For further information please refer to note 1.3.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
2
Judgements and key sources of estimation uncertainty
(Continued)
- 9 -
Key sources of estimation uncertainty
The following key sources of estimation uncertainty have had the most significant effect on amounts recognised in the financial statements
Incremental borrowing rate
The Company uses estimates when determining the incremental borrowing rate used to measure lease liabilities based on expected third party financing costs when the interest rate implicit in the lease cannot be readily determined. Management have made a judgement that the incremental borrowing rate applicable to the Company’s leased properties is 9%.
The Company has performed a sensitivity analysis in relation to the impact on lease liabilities of the incremental borrowing rate. If the rate decreased to 5%, the lease liabilities at 31 December 2022 would be reported at £2,372,285. If the rate increased to 15% the lease liabilities at 31 December 2022 would be reported at £887,650.
3
Employees
The average monthly number of persons (including Directors) employed by the Company during the year was:
Year ended
Period ended
31 December
31 December
2022
2021
Number
Number
Total
There were no Director's remuneration expenses in the Company in both the current and previous period.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
- 10 -
4
Taxation
The total income tax for the year included in the Statement of Comprehensive Loss can be reconciled to the loss before tax multiplied by the standard rate of tax as follows:
Year ended
Period ended
31 December
31 December
2022
2021
£
£
Loss before taxation
(43,510)
Expected tax credit based on a corporation tax rate of 19.00% (2021: 19.00%)
(8,267)
Effect of expenses not deductible in determining taxable profit
55
Losses not recognised in deferred tax asset
8,212
-
Tax charged in the finacial statements
-
-
The Company has losses available to carry forward for relief against future taxable profits of £43,219 (31 December 2021: £nil).
Deferred tax assets in relation to losses and other deductions at the end of the year amounted to £10,805 (31 December 2021: £nil) have not been provided for on the basis that the timing of the future reversal of the underlying timing differences is uncertain.
This does not impact on the going concern of the Company. Deferred tax is calculated on an expected future tax rate of 25% as this is the rate expected to apply when the majority of the balances are settled.
In the budget on 3 March 2021, the UK Government announced an increase in the main UK corporation tax rate from 19% to 25% with effect from 1 April 2023. The change in rate was substantively enacted on 24 May 2021.
Deferred tax has been calculated at 25% which was the tax rate substantively enacted at the reporting date.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
- 11 -
5
Right-of-use assets
Spaceport
Total
£
£
Cost
As at 31 December 2021
-
-
Additions
1,538,303
1,538,303
At 31 December 2022
1,538,303
1,538,303
Accumulated depreciation
As at 31 December 2021
-
-
Depreciation charge for the year
6,982
6,982
At 31 December 2022
6,982
6,982
Carrying value
At 31 December 2022
1,531,321
1,531,321
At 31 December 2021
6
Other receivables
31 December
31 December
2022
2021
as restated
£
£
Other receivables
100,000
100,000
Other receivables consist of unpaid share capital.
7
Trade and other payables
31 December
31 December
2022
2021
£
£
Amounts owed to Parent Company
103,948
Accruals
29,500
133,448
-
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
- 12 -
8
Lease liabilities
31 December
31 December
2022
2021
Maturity analysis
£
£
Up to 3 months
24,500
-
Between 3 and 12 months
73,500
-
Between 1 and 2 years
98,000
Between 2 and 5 years
420,822
Over 5 years
5,745,522
-
Total undiscounted liabilities
6,362,344
-
Future finance charges and other adjustments
(4,920,961)
-
Lease liabilities in the financial statements
1,441,383
-
Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:
31 December
31 December
2022
2021
£
£
Current lease liabilities
92,888
-
Non-current lease liabilities
1,348,495
-
1,441,383
-
On 10th October 2022, the Company entered into a lease for an area of land on which to develop a spaceport. The lease expires in October 2072 with break clauses on the 5th anniversary of the commencement of the lease, and every 5 years thereafter. Any termination requires a notice period of 6 months. The Company has no expectation that the break clause will be taken and this is reflected in the determination of the lease term.
The total cash outflow in respect of leases in the year was £13,156 which is equal to the repayments made in respect of lease liabilities. The Company did not have any short term leases in the current period or previous period.
9
Share capital
31 December
31 December
31 December
31 December
2022
2021
2022
2021
as restated
Ordinary share capital
Number
Number
£
£
Issued
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
The company has only 1 class of share which has full rights regarding voting, dividends and distributions on winding up.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
- 13 -
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
An audit of the company's financial statements was carried out by
BDO LLP as statutory auditor who reported to the company's member on
29th September 2023
29 September 2023
.
The auditor's report was signed by Joe Lucey as senior statutory auditor and was unqualified. The audit report drew attention to the material uncertainty in relation to going concern, which is outlined in more detail in note 1 to these financial statements.
The senior statutory auditor was Joe Lucey
The auditor was BDO LLP
11
Reserves
Accumulated deficit represents the cumulative profit and loss of the Company, net of distributions to owners.
12
Capital commitments
There are no capital commitments at the balance sheet date.
13
Events after the reporting date
In June 2023, a date after the reporting date but prior to the date of signing these Financial Statements, the Company commenced building activities on the land leased during the year.
The lease contains an obligation for the Company to restore the land to its original condition on expiry of the lease. It is intended that the Company will enter into a series of cash security agreements to provide the funding for this restoration. It is planned that the cash security agreements will align with the timing of the infrastructure and build costs incurred.
In May 2023, the Company completed a cash security agreement for £71,000. At the date of signing these Financial Statements the Company is in the process of signing a further agreement for £60,000.
The total estimated restoration cost is £1.9m and it is anticipated that the cash security agreements will take 3-4 years to complete.
There were no additional post reporting events to note.
14
Related party transactions
The Company has taken the exemption under FRS 101 not to report Related Party transactions with the Parent Company and any wholly owned subsidiary undertaking of the Group to which the Company belongs.
15
Controlling party
The Company is controlled by its Parent Company Orbital Express Launch Limited.
The Directors do not consider there to be an ultimate controlling party of the Parent Company.
SUTHERLAND SPACEPORT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022 AND PERIOD ENDED 31 DECEMBER 2021
15
Controlling party
(Continued)
- 14 -
The Company is included within the consolidated accounts of its Parent Company Orbital Express Launch Limited.
Consolidated accounts can be obtained at Companies House or by request to the Company's registered office.
2022-12-312022-01-01Mr. C N LarmourMr. S BeswickMr. K Von BengtsonfalseCCH SoftwareiXBRL Review & Tag 2022.2These accounts have been prepared in accordance with the provisions of the small companies regime.SC6825092022-01-012022-12-31SC6825092022-12-31SC6825092021-12-31SC6825092020-11-30SC682509core:WithinOneYear2021-12-31SC682509core:ShareCapital2022-12-31SC682509core:ShareCapital2021-12-31SC682509core:RetainedEarningsAccumulatedLosses2022-12-31SC682509core:RetainedEarningsAccumulatedLosses2021-12-31SC682509bus:Director22022-01-012022-12-31SC682509core:FinancialInstrumentsFairValueThroughProfitOrLoss2022-01-012022-12-31SC682509core:Held-to-maturityFinancialAssets2022-01-012022-12-31SC682509core:FinancialInstrumentsDesignatedFairValueThroughProfitOrLoss2022-01-012022-12-31SC6825092020-12-012021-12-31SC682509core:CurrentFinancialInstruments2021-12-31SC682509core:CurrentFinancialInstruments2022-12-31SC68250912022-01-012022-12-31SC682509bus:PrivateLimitedCompanyLtd2022-01-012022-12-31SC682509bus:Audited2022-01-012022-12-31SC682509bus:FRS1012022-01-012022-12-31SC682509bus:Director12022-01-012022-12-31SC682509bus:Director32022-01-012022-12-31SC682509bus:FullAccounts2022-01-012022-12-31SC682509bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP