Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 84

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 84
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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 2.5 years determined using the remaining life of the warrant.       The shorter the expected life the lower the fair value.  
                                                                                                                                                       Risk-free rate of 4.32% determined using the expected life assumptions.                                      The higher the risk-free rate                            
  Total                                                                      £ 85,000                                                                                                                                                                                                                                        

Changing the unobservable risk-free
rate input to the valuation model by 10% higher while all other variables were held constant, would not impact the carrying amount of
warrants (2023: nil; 2022: nil).

There were no transfers between Level
1 and 2 in the period.

The financial liability measured at
fair value on Level 3 fair value measurement represents consideration relating to warrants issued in July 2024, May 2024, December 2023,
May 2023, May 2020 and October 2019 as part of Registered Direct offerings and private placement.

Credit risk

The Group is exposed to credit risk
from amounts due from collaborative partners and from cash and cash equivalents and deposits with banks and financial institutions. The
risk from collaborative partners is deemed to be low. For banks and financial institutions, only independently rated parties with high
credit status are accepted. The Group does not enter into derivatives to manage credit risk. The gross carrying amount of a financial
asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery.

The total exposure to credit risk of
the Group is equal to the total value of the financial assets held at each year end as noted above.

Foreign exchange risk

The group operates internationally although
its operations are based in the United Kingdom. The group incorporated an Australian subsidiary during the year, there were minimal transactions
in this entity during 2024.

The group assets and liabilities are
predominately denominated in Pounds Sterling and US Dollar. The Group retains cash balances in US Dollars as a hedge against these liabilities.
The assets and liabilities associated with the Joint Arrangement with Emtora, as disclosed in note 1, are held in US dollars as the majority
of operations under the arrangement are undertaken in the US.

The group is exposed to foreign exchange
risk arising from exposure to various currencies primarily the Euro and US Dollar.

The table below shows analysis of the
Pounds Sterling equivalent of year