Financial Highlights

P&L Summary

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H1          Full Year
2018
£000
2019
£000
2020
£000
2021
£000
2022
£000
2023
£000
  Restated*
2017
£000
2018
£000
2019
£000
2020
£000
2021
£000
2022
£000
Revenue 10,475 11,669 14,047 19,826 27,604 29742   21,071 22,705 25,717 28,217 46,017 58,880
Operating Expenses (9,096) (10,007) (11,052) (15,665) (23,104) -25704   (18,654) (18,653) (20,853) (22,298) (37,767) (48,017)
Adjusted EBITDA 1,379 1,662 2,995 4,161 4,500 4038   2,417 4,052 4,864 5,919 8,250 10,863
Depreciation, Amortisation and Impairment (839) (985) (990) (1,423) (2,163) -1885   (1,590) (1,670) (5,215) (2,110) (3,671) (4,463)
Profit/(Loss) before Non-recurring (costs)/income 540 677 2,005 2,738 2,337 2153   827 2,382 (351) 3,809 4,579 6,400
Non-recurring (costs)/income (373) (84) (49) (817) (769) -932   (443) (539) (302) (606) (481) (807)
Profit/(Loss) after Non-recurring (costs)/income 167 593 1,956 1,921 1,568 1221   384 1,843 (653) 3,203 4,098 5,593

Balance Sheet & Cash Generation

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H1          Full Year
2018
£000
2019
£000
2020
£000
2021
£000
2022
£000
2023
£000
  Restated*
2017
£000
2018
£000
2019
£000
2020
£000
2021
£000
2022
£000
Assets Non current assets 17,719 20,678 20,521 45,950 60,544 59,482   18,132 17,711 20,685 20,131 61,065 60,271
Current assets (excl. cash) 8,370 7,758 9,258 12,994 15,389 15728   10,766 8,857 8,154 6,908 15,090 18,474
Cash 3,739 6,039 9,132 17,850 10,280 8,442   3,064 3,572 5,957 26,724 15,021 13,964
Total assets 29,828 34,475 38,911 76,794 86,213 83,652   31,962 30,140 34,796 53,763 91,176 92,709
Equity & Liabilities Overdraft - - - - - -1,028   - - - - - -
  Current liabilities (excl. overdraft) (12,622) (12,782) (15,029) (26,747) (30,632) -24473   (14,138) (11,228) (13,380) (13,802) (32,347) (32,902)
  Non-current liabilities (1,746) (4,761) (7,241) (7,535) (5,181) -3,510   (4,051) (2,517) (4,617) (6,725) (11,528) (4,450)
  Equity (15,460) (16,932) (16,641) (42,512) (50,400) -54641   (13,773) (16,395) (16,799) (33,236) (47,301) (53,357)
  Total equity and liabilities (29,828) (34,475) (38,911) (76,794) (86,213) -83,652   (31,962) (30,140) (34,796) (53,763) (91,176) (92,709)
  Deferred Income (incl. in current liabilities) 10,155 9,323 11,048 14,243 17,672 -18861   10,967 8,625 8,942 9,878 18,935 22,745
  Cash (used in)/generated from operations 1,082 2,976 2,765 4,082 1,831 2,143   1,532 1,772 5,646 7,368 10,343 9,857

*Numbers restated to reflect the adoption of IFRS 15 - Revenue from Contracts with Customers