| PROPERTY, PLANT AND EQUIPMENT |
NOTE
5. PROPERTY, PLANT AND EQUIPMENT
The
Company’s property, plant and equipment balances consist of the following:
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT BALANCES
| |
|
Facilities
& Scientific Equipment |
|
|
Computer
Equipment |
|
|
Office
Equipment |
|
|
Total |
|
| Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2022 |
|
£ |
4,889,662 |
|
|
£ |
333,148 |
|
|
£ |
86,331 |
|
|
£ |
5,309,141 |
|
| Additions |
|
|
225,666 |
|
|
|
15,046 |
|
|
|
- |
|
|
|
240,712 |
|
| Disposals |
|
|
(228,026 |
) |
|
|
- |
|
|
|
- |
|
|
|
(228,026 |
) |
| At December 31, 2022 |
|
|
4,887,302 |
|
|
|
348,194 |
|
|
|
86,331 |
|
|
|
5,321,827 |
|
| Additions |
|
|
91,724 |
|
|
|
18,629 |
|
|
|
- |
|
|
|
110,353 |
|
| Disposals |
|
|
- |
|
|
|
-
|
|
|
|
-
|
|
|
|
- |
|
| At December 31, 2023 |
|
£ |
4,979,026 |
|
|
£ |
366,823 |
|
|
£ |
86,331 |
|
|
£ |
5,432,180 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At January 1, 2022 |
|
£ |
2,636,772 |
|
|
£ |
312,718 |
|
|
£ |
60,996 |
|
|
£ |
3,010,486 |
|
| Disposals |
|
|
(164,380 |
) |
|
|
- |
|
|
|
- |
|
|
|
(164,380 |
) |
| Depreciation expense |
|
|
683,592 |
|
|
|
15,098 |
|
|
|
15,860 |
|
|
|
714,550 |
|
| At December 31, 2022 |
|
|
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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net book value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2023 |
|
£ |
1,247,809 |
|
|
£ |
25,060 |
|
|
£ |
1,929 |
|
|
£ |
1,274,798 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| At December 31, 2022 |
|
£ |
1,731,318 |
|
|
£ |
20,378 |
|
|
£ |
9,475 |
|
|
£ |
1,761,171 |
|
Depreciation
expense on these assets for the years ended December 31, 2023 and 2022, was £596,726 and £714,550, respectively, and is included
in research and development and administrative expenses in the accompanying consolidated statements of operations. The Company incurred
a loss on disposal of equipment totaling £8,646 for the year ended December 31, 2022.
|