Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 59

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 59
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, and interpretations which have been issued by the IASB that are effective in future accounting periods that the group has decided
not to adopt early.

The Group reviewed the new standards, interpretations
and amendments effective from 1 January 2025 and 1 January 2026 and deemed none have a material impact on the group.

Basis
for consolidation

The Group financial statements consolidate those
of the parent company and all of its subsidiaries. The parent controls a subsidiary if it has power over the investee to significantly
direct the activities, exposure, or rights to variable returns from its involvement with the investee, and the ability to use its power
over the investee to affect the amount of the investor’s returns. All subsidiaries have a reporting date of 31 December.

All transactions and balances between Group companies are eliminated on consolidation,
including unrealised gains and losses on transactions between Group companies. Where unrealised losses on intra-Group asset sales are
reversed on consolidation, the underlying asset is also tested for impairment from a Group perspective. Amounts reported in the financial
statements of subsidiaries have been adjusted where necessary to ensure consistency with the accounting policies adopted by the Group.

The consolidated financial statements consist of the results of the following entities:

  Schedule of entities                                                              
  Entity                                       Summary description                  
  Biodexa Pharmaceuticals PLC                  Ultimate holding company             
  Biodexa Australia PTY Limited                Trading company                      
  Biodexa Limited                              Trading company                      
  Biodexa Pharmaceuticals (Wales) Limited      Trading company                      
  Haaland UK Limited                           Dormant – incorporated October 2022  
  PharMida AG                                  Dormant                              

Going
concern - material uncertainty

We have experienced net losses and significant cash outflows from cash used in operating
activities over the past years as it develops its portfolio. For the year ended 31 December 2024, the Group incurred a consolidated loss
for the year of £5.73million and negative cash flows from operations of £12.26million. As of 31 December 2024, the Group
had an accumulated deficit of £150.42million.

Our future viability is dependent on our ability to raise cash from financing activities
to finance its development plans until milestones and/or royalties can be secured from partnering the Company’s assets. Our failure
to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies.

We believe there are adequate options and time available to secure additional financing