2026

$

2025

$

2024

$

Year ended March 31,

2026

$

2025

$

2024

$

Group

Current year tax charge

7,987

51

55,280

Adjustments in respect of prior periods

-

(3,263,830

)

(32,864

)

Deferred tax

Origination and reversal of timing differences

-

Total tax charge/(credit) for the period

7,987

(3,263,779

)

22,416

The tax charge/(credit) for the year is different from the small company rate of corporation tax in the United Kingdom of 19%. The difference can be reconciled as follows:

Loss before taxation

(8,841,670

)

(7,970,071

)

(16,803,045

)

Loss charged at standard rate of corporation tax 19%

(1,679,917

)

(1,514,313

)

(3,192,578

)

Tax losses arising in the year not recognized

1,398,364

1,401,608

3,032,344

Expenses not deductible for taxation

307,042

123,112

220,187

Tax increase from effect of capital allowances and depreciation

347

484

748

Difference in tax rates

(6,210

)

(5,015

)

-

Research and Development tax credits claimed in respect of previous periods

-

(3,263,830

)

(32,864

)

Consolidation adjustment in relation to foreign exchange movements

(11,639

)

(5,825

)

(5,421

)

Total tax charge/(credit) for the period

7,987

(3,263,779

)

22,416