Financial statements Consolidated statement of changes in equity Foreign Accumu- Non- Share Share Merger Other exchange lated controlling Total 1 Number of capital premium reserves reserves reserves losses Total interests equity Equity Notes shares £000 £000 £000 £000 £000 £000 £000 £000 £000 Balance at 1 January 2020 469,227,259 117,307 174,302 205,717 (1,160) (18,750) (11,215) 466,201 100 466,301 Comprehensive loss for the year Loss for the year – – – – – – (3,929) (3,929) – (3,929) Foreign currency translation differences – – – – – 2,905 – 2,905 – 2,905 Total comprehensive loss for the year – – – – – 2,905 (3,929) (1,024) – (1,024) Transactions with owners of the Company Issue of Ordinary Shares 21 36,766,642 9,192 103,995 – – – – 113,187 – 113,187 Business combinations 21 34,744,022 8,686 84,564 – 28,655 – – 121,905 – 121,905 Employee share schemes 21 1,327,535 331 1,334 – (454) – 11,963 13,174 – 13,174 Balance as previously reported 542,065,458 135,516 364,195 205,717 27,041 (15,845) (3,181) 713,443 100 713,543 Restatement2 4 – – – – 2,234 – – 2,234 – 2,234 Balance as at 31 December 2020 542,065,458 135,516 364,195 205,717 29,275 (15,845) (3,181) 715,677 100 715,777 Comprehensive loss for the year Loss for the year – – – – – – (56,715) (56,715) – (56,715) Foreign currency translation differences – – – – – (6,358) – (6,358) – (6,358) Hyperinflation revaluation – – – – 1,633 – – 1,633 – 1,633 Total comprehensive loss for the year – – – 1,633 (6,358) (56,715) (61,440) – (61,440) Transactions with owners of the Company Issue of Ordinary Shares – – – – – – – – – – Business combinations 21 13,242,114 3,311 82,715 – 45,856 – – 131,882 – 131,882 Employee share schemes 22 – – – – (110) – 15,129 15,019 – 15,019 Balance as at 31 December 2021 555,307,572 138,827 446,910 205,717 76,654 (22,203) (44,767) 801,138 100 801,238 Notes: 1. Other reserves include the deferred equity consideration of £77.0 million, made up of the following: Decoded for £47.9 million, Raccoon for £16.8 million, 4 Cashmere for £6.9 million and Zemoga £5.4 million (2020: £28.9 million), the treasury shares issued in the name of S Capital Group to an employee benefit trust for the amount of £2.5 million (2020: £ 3.8 million), and hyperinflation impact in Argentina of £1.6m (2020: nil). 2. Restated deferred equity consideration for the business combination of Decoded as required by IFRS 3. Details are disclosed in Note 4. The accompanying notes on pages 113 to 160 form an integral part of the financial statements. 112 S4Capital Annual Report and Accounts 2021