Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3. PROPERTY, PLANT AND EQUIPMENT

 

The Company’s property, plant and equipment balances consist of the following:

 

    Facilities &
Scientific
Equipment		     Computer
Equipment		     Office
Equipment		     Total  
At December 31, 2023   £ 4,979,026     £ 366,823     £ 86,331     £ 5,432,180  
Additions     -       -       -       -  
Disposals     -       -       -       -  
At March 31, 2024     4,979,026       366,823       86,331       5,432,180  
                                 
Depreciation                                
At December 31, 2023     3,731,217       341,763       84,402       4,157,382  
Depreciation expense     110,595       3,620       530       114,745  
At March 31, 2024     3,841,812       345,383       84,932       4,272,127  
                                 
Net book value                                
At March 31, 2024   £ 1,137,214     £ 21,440     £ 1,399     £ 1,160,053  
                                 
At December 31, 2023   £ 1,247,809     £ 25,060     £ 1,929     £ 1,274,798  

 

Depreciation expense on these assets for the three months ended March 31 2024 and 2023, was £114,745 and £169,155, respectively, and is included in research and development and administrative expenses in the accompanying unaudited condensed consolidated statements of operations.