Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Deferred taxation

Deferred taxation
12 Months Ended
Dec. 31, 2022
Deferred taxation

19. Deferred taxation


The Group has not recognized a deferred tax asset in respect of tax losses carried forward and other timing differences as at December 31, 2022 on the basis that the availability of future taxable profits against which to offset the losses cannot be determined with reasonable certainty.


The Group has tax losses carried forward of £17,733,217 (2021: £14,326,058) that are available for offset against future taxable profits and do not expire.


The unrecognized deferred tax asset at 25% mainly consists of losses of £4,433,305 (2021 at 25%: £3,581,514).