Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 56

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 56
---
 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  

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

We have served as the Group’s auditor from
2020 until October 24, 2024.

/s/ Mazars LLP

Mazars LLP

London, England

April 18, 2024

  F-4  

  Table of Contents  

  Biodexa Pharmaceuticals PLC  
  Annual Report 2024           

  F-5  

  Table of Contents  

Biodexa Pharmaceuticals PLC

Annual Report 2024

Consolidated StatementS of Comprehensive
Income

For the year ended 31 December

 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                                                      3            –          381          699  
  Other income                                                                             31           14           22  
  Research and development costs                                                      ( 5,437      ( 4,067      ( 5,111  
  Administrative costs                                                                ( 3,793      (