Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 370

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 370
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 any non-controlling interest in the acquiree, plus; |

| · | if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree re-measured at the 
 acquisition date, less;                                                                                                              |

| · | the fair value of the net identifiable assets acquired and assumed liabilities. |

Acquisition costs incurred
are expensed and included in administrative costs. Any contingent consideration to be transferred by the acquirer is recognised at fair
value at the acquisition date. Subsequent changes to the fair value of the contingent consideration, whether it is an asset or liability,
will be recognised through the consolidated statement of comprehensive income. If the contingent consideration is classified as equity,
it is not re-measured.

| F-33 |

| 1 | Accounting policies (continued) |

Business combinations
and externally acquired intangible assets (continued)

An intangible asset, which is an identifiable non-monetary
asset without physical substance, is recognised to the extent that it is probable that the expected future economic benefits attributable
to the asset will flow to the Group and that its cost can be measured reliably. The asset is deemed to be identifiable when it is separable
or when it arises from contractual or other legal rights. Further contingent payments due on the purchase of the intangible asset are
only recognised when it is probable that payments are due.

Externally acquired
intangible assets other than goodwill are initially recognised at cost and subsequently amortised on a straight-line basis over their
useful economic lives where they are in use. Goodwill is stated at cost less any accumulated impairment losses.

The amounts ascribed
to intangibles recognised on business combinations are arrived at by using appropriate valuation techniques. In-process research and development
(‘IPRD’) programmes acquired in business combinations are recognised as assets even if subsequent expenditure is written off
because the criteria specified in the policy for development costs below are not met.

IPRD is subject to annual
impairment testing until the completion or abandonment of the related project. No further costs are capitalised in respect of this IPRD
unless they meet the criteria for research and development capitalisation as set out below.

As per IFRS 3, once
the research and development of each defined project is completed, the carrying value of the acquired IPRD is reclassified as a finite-lived
asset and amortised over its useful life.

The significant intangibles
recognised by the Group and their useful economic lives are as follows:

| Schedule