Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 62

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 62
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 costs, is credited to R& D costs in the same period in
the Statements of Comprehensive Income. The escrow account is recognised within prepayments, CPRIT grant received in advance is recognised
within deferred revenue and any grant not yet received is recognised in accrued income.

In 2024 the Company recognised R& D costs of £1.24million on the FAP project, this was made up of expenditure of £2.45million netted against CPRIT grant income of £1.21million.

The balances as at 31 December 2024 were as follows in relation
to the FAP project:

  Schedule of FAP project                      
  Prepayments                  6.11 million    
  Deferred revenue             £ 1.47 million  

Business
combinations and externally acquired intangible assets

Business combinations are accounted for using the acquisition method at the acquisition
date, which is the date at which the Group obtains control over the entity. The cost of an acquisition is measured as the amount of the
consideration transferred to the seller, measured at the acquisition date fair value, and the amount of any non-controlling interest in
the acquiree. The Group measures goodwill initially at cost at the acquisition date, being:

  the fair value of the consideration transferred to the seller,  

  the amount of any non-controlling interest in the acquiree, plus;  

  if the business combination is achieved in stages, the fair value                           

  the fair value of the net identifiable assets acquired and assumed  

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.

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