Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

v3.25.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4. PROPERTY AND EQUIPMENT

 

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

 

    Facilities & Scientific Equipment     Computer Equipment     Office Equipment     Total  
Cost                                
At January 1, 2023   £ 4,887,302     £ 348,194     £ 86,331     £ 5,321,827  
Additions     91,724       18,629       -       110,353  
At December 31, 2023     4,979,026       366,823       86,331       5,432,180  
Additions     30,272       33,325       -       63,597  
At December 31, 2024   £ 5,009,298     £ 400,148     £ 86,331     £ 5,495,777  
                                 
Depreciation                                
At January 1, 2023   £ 3,155,984     £ 327,816     £ 76,856     £ 3,560,656  
Depreciation expense     575,233       13,947       7,546       596,726  
At December 31, 2023     3,731,217       341,763       84,402       4,157,382  
Depreciation expense     366,065       15,987       1,535       383,587  
At December 31, 2024   £ 4,097,282     £ 357,750     £ 85,937     £ 4,540,969  
                                 
Net book value                                
At December 31, 2024   £ 912,016     £ 42,398     £ 394     £ 954,808  
                                 
At December 31, 2023   £ 1,247,809     £ 25,060     £ 1,929     £ 1,274,798  

 

Depreciation expense on these assets for the years ended December 31, 2024, 2023, and 2022, was £383,587, £596,726 and £714,550, respectively, and is included in research and development and administrative expenses in the accompanying consolidated statements of operations.