Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 401

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 401
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      1,642 |     |      1,797 |     |      1,802 |

Financial liabilities
– fair value through profit and loss – current

|                                               |     | 2023 £’000 |     | 2022 £’000 |     | 2021 £’000 |
| Equity settled derivative financial liability |     |      4,160 |     |         85 |     |        553 |

| F-60 |

19 Financial
instruments – risk management (continued)

Fair value hierarchy

The Group uses the following
hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

| · | Level 1: quoted (unadjusted) prices in active markets for identical assets and liabilities; |

| · | Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly 
 or indirectly; and                                                                                                                        |

| · | Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market 
 data.                                                                                                                                  |

The fair value of the
Group’s derivative financial liability is measured on a recurring basis. The following table gives information about how the fair
value of this financial liability is determined, additional disclosure is given in note 18:

| Schedule of consolidated financial assets and liabilities at fair value |     |               |           |     |           |     |                     |     |                                                                                                               |     |                                                         |
| Financial                                                               
 liabilities                                                             |     | Fair value as 
 at            
 31/12/2023    |           |     | Fair      
 value     
 hierarchy |     | Valuation           
 technique(s)        
 and key input(s)    |     | Significant unobservable input(s)                                                                             |     | Relationship of                                         
 unobservable inputs to                                  
 fair value                                              |
| Equity settled financial derivative liability –                         
 Series E warrants                                                       |     | £             | 2,592,000 |     | Level 3   |     | Black-Scholes Model |     | Volatility rate of 90.0% determined using historical volatility of comparable companies.                      |     | The higher the volatility the higher the fair value.    |
|                                                                         |     |               |           |     |           |     |                     |     | Expected life between a range of 0.1 and 0.98 years determined using the remaining life of the warrant.       |     | The shorter the expected life the