Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 80

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 80
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 of such Financing
Event.

The
Company received $540,000 pursuant to the Promissory Note on 24 December 2024.

18 Provisions

  Schedule of provisions                                 
  Opening provision at 1 January        207          50  
  Utilisation of provision              ( 207      ( 43  
  Provision recognised in the year      –           200  
  At 31 December                        –           207  
  Less: non-current portion             –             –  
  Current portion                       –           207  

The provision as at 1 January 2022 represents
management’s best estimate of the ‘making good’ clause on the Cardiff office which was vacated during the fourth quarter
of 2021. This liability was settled during 2022.

19Derivative
financial liability - current

  Schedule of derivative financial liability                                                                                                
  Equity settled derivative financial liability                                                                                             
  At 1 January                                                                                                 4,160         85      553    
  Warrants issued                                                                                              3,059      4,562      –      
  Transfer to share premium on exercise of warrants                                                          ( 3,618          –      –      
  Gain recognised in finance (income)/expense within the consolidated statement of comprehensive income      ( 3,218      ( 487      ( 468  
  At 31 December                                                                                                 383      4,160      85     

Equity settled derivative financial
liability is a liability that is not to be settled for cash.

The Company issues warrants in the ADSs
of the Company as part of registered direct offerings and private placements in the US. The number of ADSs to be issued when exercised
is fixed, however the exercise price is denominated in US Dollars being different to the functional currency of the Company. Therefore,
the warrants are classified as equity settled derivative financial liabilities recognised at fair value through the profit and loss account
(‘ FVTPL’). The financial liability is valued using the Black-Scholes model in 2024 and 2023, in previous periods the Monte
Carlo model was used. The change in methodology is as result of the Company de-listing from AIM in 2023 and no longer needing to consider
foreign exchange movements in the fair value calculation. Financial liabilities at FVTPL are stated at fair value, with any gains or losses
arising on re-measurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any interest paid