Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 360

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 360
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BIODEXA PHARMACEUTICALS PLC

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</div>

|                                                                                                             | Page |
| Report of Independent Registered Public Accounting Firm (Mazars LLP, London, United Kingdom, PCAOB ID 1401) | F-21 |
| Consolidated statements of comprehensive income for the years ended 31 December 2023, 2022 and 2021         | F-23 |
| Consolidated statements of financial position at 31 December 2023, 2022 and 2021                            | F-24 |
| Consolidated statements of cash flows for the years ended 31 December 2023, 2022 and 2021                   | F-26 |
| Consolidated statements of changes in equity for the years ended 31 December 2023, 2022 and 2021            | F-28 |
| Notes forming part of the consolidated financial statements                                                 | F-31 |

| F-20 |

<div align='center'>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

The Board of Directors and Shareholders of Biodexa Pharmaceuticals
plc (formerly known as Midatech Pharma plc)

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated
statements of financial position of Biodexa Pharmaceuticals plc (formerly known as Midatech Pharma plc) and its subsidiaries (the “Group”)
as of December 31, 2023 and 2022, and the related consolidated statements of comprehensive income, changes in equity, and cash flows for
each of the years in the three-year period ended December 31, 2023, including the related notes (collectively, the “Consolidated
Financial Statements”). In our opinion, the Consolidated Financial Statements present fairly, in all material respects, the financial
position of the Group as of December 31, 2023 and 2022, and the consolidated results of its operations and its cash flows for each of
the year in the three-year period ended December 31, 2023, in conformity with International Financial Reporting Standards as issued by
the International Accounting Standards Board.

Going Concern Uncertainty

The accompanying Consolidated Financial Statements
have been prepared assuming that the Group will continue as a going concern. As discussed in note 1 to the Consolidated Financial Statements
the Group has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability
to continue