Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 369

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 369
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 as incurred. No projects have yet reached the point of capitalisation.

Impairment of non-financial assets

Assets that have an
indefinite useful life, for example goodwill, or intangible assets not ready for use, such as IPRD, are not subject to amortisation and
are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s
carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell
and value in use. The reversal of any impairment charge is limited to the carrying amount of the asset that would have been determined
(net of amortisation or depreciation) had no impairment charge been recognised for the asset in prior periods.

For the purposes of
assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating
units). The Group at 31 December 2023 had only one cash generating unit (2022: one, 2021: one). Non-financial assets other than goodwill
that suffered impairment are reviewed for possible reversal of impairment at each reporting date.

Patents and trademarks

The costs incurred in
establishing patents and trademarks are either expensed in accordance with the corresponding treatment of the development expenditure
for the product to which they relate or capitalised if the development expenditure to which they relate has reached the point of capitalisation
as an intangible asset.

| F-34 |

| 1 | Accounting policies (continued) |

Foreign currency

Transactions entered
into by Group entities in a currency other than the currency of the primary economic environment, in which they operate, are recorded
at the rates ruling when the transactions occur. Foreign currency monetary assets and liabilities are translated at the rates ruling at
the reporting date. Exchange differences arising on the retranslation of unsettled monetary assets and liabilities are recognised immediately
in profit or loss.

The presentational currency
of the Group is Pounds Sterling. Foreign subsidiaries use the local currencies of the country where they operate. On consolidation, the
results of overseas operations are translated into Pounds Sterling at rates approximating to those ruling when the transactions took place.
All assets and liabilities of overseas operations, including goodwill arising on the acquisition of those operations, are translated at
the rate ruling at the reporting date. Exchange differences arising