Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

PROPERTY, PLANT AND EQUIPMENT

v3.24.3
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 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     20,853       -       -       20,853  
At June 30, 2024     4,999,879       366,823       86,331       5,453,033  
                                 
Depreciation                                
At December 31, 2023     3,731,217       341,763       84,402       4,157,382  
Depreciation expense     215,067       6,734       1,006       222,807  
At June 30, 2024     3,946,284       348,497       85,408       4,380,189  
                                 
Net book value                                
At June 30, 2024   £ 1,053,595     £ 18,326     £ 923     £ 1,072,844  
                                 
At December 31, 2023   £ 1,247,809     £ 25,060     £ 1,929     £ 1,274,798  

 

Depreciation expense on these assets for the six months ended June 30, 2024 and 2023, was £222,807 and £330,260, respectively, and is included in research and development and administrative expenses in the accompanying unaudited condensed consolidated statements of operations.