| INTANGIBLE ASSETS |
NOTE 5. INTANGIBLE ASSETS
The Company’s intangible assets consist of the
following:
SCHEDULE
OF INTANGIBLE ASSETS
| |
|
Software |
|
|
Patents and Licenses |
|
|
Total |
|
| Cost |
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2023 |
|
£ |
49,613 |
|
|
£ |
712,557 |
|
|
£ |
762,170 |
|
| Additions |
|
|
- |
|
|
|
98,436 |
|
|
|
98,436 |
|
| At December 31, 2023 |
|
|
49,613 |
|
|
|
810,993 |
|
|
|
860,606 |
|
| Intangible assets, Beginning |
|
|
49,613 |
|
|
|
810,993 |
|
|
|
860,606 |
|
| Additions |
|
|
- |
|
|
|
28,913 |
|
|
|
28,913 |
|
| Write off of intangible assets |
|
|
- |
|
|
|
(165,635 |
) |
|
|
(165,635 |
) |
| At December 31, 2024 |
|
|
49,613 |
|
|
|
674,271 |
|
|
|
723,884 |
|
| Intangible assets, Ending |
|
|
49,613 |
|
|
|
674,271 |
|
|
|
723,884 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization |
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2023 |
|
|
46,661 |
|
|
|
162,493 |
|
|
|
209,154 |
|
| Amortization expense |
|
|
2,952 |
|
|
|
33,330 |
|
|
|
36,282 |
|
| At December 31, 2023 |
|
|
49,613 |
|
|
|
195,823 |
|
|
|
245,436 |
|
| Amortization expense |
|
|
- |
|
|
|
50,682 |
|
|
|
50,682 |
|
| Write off of intangible assets - amortization |
|
|
- |
|
|
|
(38,496 |
) |
|
|
(38,496 |
) |
| At December 31, 2024 |
|
|
49,613 |
|
|
|
335,149 |
|
|
|
384,762 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net book value |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2024 |
|
£ |
- |
|
|
£ |
466,262 |
|
|
£ |
466,262 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2023 |
|
£ |
- |
|
|
£ |
615,170 |
|
|
£ |
615,170 |
|
Amortization expense on
these assets for the years ended December 31, 2024, 2023 and 2022, was £50,682,
£36,282
and £55,046,
respectively, and is included in research and development expenses in the accompanying consolidated statements of operations.
|