Notes to the Consolidated Financial Statements for the year ended 31 December 2022 (continued)
30 Financial instruments The Group has the following financial instruments:
2022 £’000
2021 £’000
-
Financial assets at fair value through profit or loss
-
Financial assets that are debt instruments measured at amortised cost: - Trade debtors (note 17)
73,496
66,431
416
- Other debtors (note 17)
498
73,912
66,929
-
Financial assets that are equity instruments measured at cost less impairment.
-
-
Financial liabilities at fair value through profit and loss Financial liabilities measured at amortised cost: - Trade creditors (note 18)
-
(62,802) (3,485)
(60,508)
- Other creditors (note 18 & 19)
(3,413) (1,228)
(1,141)
- Compound financial instrument (note 19)
(20)
- Finance leases (note 18 & 19)
(66)
(67,448)
(65,215)
The company has the following financial instruments:
2022 £’000
2021 £’000
-
Financial assets that are equity instruments measured at cost less impairment
-
Financial liabilities at fair value through profit and loss Financial liabilities measured at amortised cost: - Amounts owed to Group undertakings (note 18)
-
-
(19,229)
(19,090) (1,228) (20,318)
(1,141)
- Compound financial instrument (note 19)
(20,370)
31 Business Combinations Acquisitions in 2021
On 4 November 2021, the company acquired 100% of the share capital of Relish Agency Limited. The primary activity of the company is that E-Commerce Marketing (Brand partnership and sampling) The fair value of consideration was £5,969,000 including acquisition related costs. Management have estimated the useful life of the goodwill to be 10 years. Additional acquisition consideration of £86,000 were incurred in 2022 and have been capitalised. In the year ended 31 December 2021, revenue of £5,458,000 (2021: £577,000) and a profit before tax of £231,000 (2021: loss £126,000) were included in the consolidation income statement in respect of Relish Agency Limited since the acquisition date.
64
Whistl Annual Report 2022
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