| INTANGIBLE ASSETS |
NOTE
6. INTANGIBLE ASSETS
The
Company’s intangible assets consist of the following:
SCHEDULE
OF INTANGIBLE ASSETS
| |
|
Software |
|
|
Patents
and Licenses |
|
|
Total |
|
| Cost |
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2022 |
|
£ |
49,613 |
|
|
£ |
588,072 |
|
|
£ |
637,685 |
|
| Additions |
|
|
- |
|
|
|
124,485 |
|
|
|
124,485 |
|
| At December 31, 2022 |
|
|
49,613 |
|
|
|
712,557 |
|
|
|
762,170 |
|
| Intangible assets, Beginning |
|
|
49,613 |
|
|
|
712,557 |
|
|
|
762,170 |
|
| Additions |
|
|
- |
|
|
|
98,436 |
|
|
|
98,436 |
|
| At December 31, 2023 |
|
|
49,613 |
|
|
|
810,993 |
|
|
|
860,606 |
|
| Intangible assets, Ending |
|
|
49,613 |
|
|
|
810,993 |
|
|
|
860,606 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization |
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2022 |
|
|
39,536 |
|
|
|
114,572 |
|
|
|
154,108 |
|
| Amortization expense |
|
|
7,125 |
|
|
|
47,921 |
|
|
|
55,046 |
|
| At December 31, 2022 |
|
|
46,661 |
|
|
|
162,493 |
|
|
|
209,154 |
|
| Amortization expense |
|
|
2,952 |
|
|
|
33,330 |
|
|
|
36,282 |
|
| At December 31, 2023 |
|
|
49,613 |
|
|
|
195,823 |
|
|
|
245,436 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net book value |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2023 |
|
£ |
- |
|
|
£ |
615,170 |
|
|
£ |
615,170 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2022 |
|
£ |
2,952 |
|
|
£ |
550,064 |
|
|
£ |
553,016 |
|
Amortization
expense on these assets for the years ended December 31, 2023 and 2022, was £36,282 and £55,046, respectively, and is included
in research and development expenses in the accompanying consolidated statements of operations.
|