Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 362

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 362
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 or disclosures to which they relate.

We have identified one
critical audit matter, being the going concern basis of preparation. The nature of the critical audit matter, together with our conclusion,
is set out above in the going concern uncertaintyparagraph. Given the circumstances described, the Directors were required
to exercise significant judgement in making their assessment as to whether it is appropriate to prepare the Consolidated Financial Statements
on a going concern basis and in preparing their related explanatory disclosures. As a result of the requirement for the Directors to exercise
significant judgment, much of which is qualitative in nature, together with the pervasive impact of the going concern basis of preparation
and the importance of the related explanatory disclosures in providing context for the Consolidated Financial Statements, we have concluded
that the going concern basis of preparation is a critical audit matter.

Our evaluation of the Directors’ assessment
of the appropriateness of the going concern basis of preparation of these consolidated financial statements included, but was not limited
to:

| · | Undertaking an initial assessment at the planning                                                                                 
 stage of the audit to identify events or conditions that may cast significant doubt on the Group’s ability to continue as a going 
 concern;                                                                                                                          |

| · | Obtaining an understanding of the relevant controls relating to the Directors’ 
 going concern assessment;                                                      |

| · | Reviewing the Directors’ formal going concern                                   
 assessment, including the supporting cash flow projections to 31 December 2026; |

| · | Evaluating the key assumptions used and judgements                          
 applied by the Directors in forming their conclusions on going concern; and |

| · | Reviewing the appropriateness of the disclosures                
 made by the Directors in the Consolidated Financial Statements. |

We have served as the Group’s auditor since
2020.

Mazars LLP

London, England

April 18, 2024

| F-22 |

Consolidated
StatementS of Comprehensive Income

For the year ended
31 December

|                                                                        |     | Note |     | 2023 £’000 |    |     | 2022 £’000 |   |     | 2021 £’000 |   |
| Revenue                                                                |     |    3 |     |        381 |    |     |        699 |   |     |        578 |   |
| Other income                                                           |     |      |     |         14 |    |     |         22 |   |     |         24 |   |
| Research and