Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 364

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 364
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1 January 2023 and deemed none were applicable to the annual financial statements
for the year ended 31 December 2023.

New standards, interpretations and amendments not yet effective

There are a number of standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods that the group has decided not to adopt early.

The Group reviewed the new standards, interpretations and amendments effective from 1 January 2024 and 1 January 2025 and deemed none have a material impact on the group.

| F-31 |

| 1 | Accounting policies (continued) |

Basis for consolidation

The Group financial statements consolidate those of the parent company and all of its subsidiaries. The parent controls a subsidiary if it has power over the investee to significantly direct the activities, exposure, or rights to variable returns from its involvement with the investee, and the ability to use its power over the investee to affect the amount of the investor’s returns. All subsidiaries have a reporting date of 31 December.

All transactions and
balances between Group companies are eliminated on consolidation, including unrealised gains and losses on transactions between Group
companies. Where unrealised losses on intra-Group asset sales are reversed on consolidation, the underlying asset is also tested for impairment
from a Group perspective. Amounts reported in the financial statements of subsidiaries have been adjusted where necessary to ensure consistency
with the accounting policies adopted by the Group.

The consolidated financial
statements consist of the results of the following entities:

| Schedule of entities                                                               |                                     |
| Entity                                                                             | Summary description                 |
| Biodexa Pharmaceuticals PLC                                                        | Ultimate holding company            |
| Biodexa Limited (formerly Midatech Limited)                                        | Trading company                     |
| Biodexa Pharmaceuticals (Wales) Limited formerly (Midatech Pharma (Wales) Limited) | Trading company                     |
| Haaland UK Limited                                                                 | Dormant – incorporated October 2022 |
| Haaland Jersey Limited                                                             | Incorporated January 2023           
 Dissolved March 2023                |
| Midatech Pharma (Espana) SL (formerly Midatech Biogune SL)                         | Liquidated - 2021                   |
| PharMida AG                                                                        | Dormant                             |

Going concern – material uncertainty

We have
experienced net losses and significant cash outflows from cash used in operating activities over the past years as it develops its
portfolio. For the year ended 31 December 2023,