REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Peakaio Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Peakaio Limited |
Peakaio Limited (Registered number: 13115284) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Peakaio Limited |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
555 Smithdown Road |
Liverpool |
Merseyside |
L15 5AF |
Peakaio Limited (Registered number: 13115284) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Peakaio Limited (Registered number: 13115284) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Peakaio Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Peakaio Limited (Registered number: 13115284) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
2. | ACCOUNTING POLICIES - continued |
Review of year |
I am privileged to address you as the CEO of PEAK:AIO, a company driven by a vision to revolutionise the AI industry with a modern software driven approach to superfast, affordable storage solutions. With over three decades of experience in the storage industry, I embarked on this journey with an incredibly talented team, united by a shared passion for innovation and excellence. Our mission was clear: to bridge the gap in the AI market, making cutting-edge storage solutions accessible to the burgeoning world of AI start-ups and research teams. |
In our inaugural year, we worked tirelessly alongside AI channels and users to understand their unique challenges and needs. This collaborative approach led to the introduction of our ground-breaking Generation One solution, which gained immediate success and recognition within the industry. This achievement reinforced our belief that we were on the right path, but we knew that to truly empower the AI community, we needed to do more. |
In our second year, we made strategic investments that were pivotal in our journey. We developed a modern software solution that could transform an off-the-shelf server into an ultra-fast AI Data Server, capable of handling the increasingly complex GPU workloads that were emerging. Simultaneously, we set our sights on creating a global sales channel, establishing partnerships with leading AI suppliers worldwide. These endeavours required substantial resources, but we were committed to laying the foundation for our future success. |
While the second year brought financial challenges, it also solidified our position as a leading name in the AI world. Our modern software approach proved to be not only innovative but also stable and scalable, setting new standards for the industry. Looking ahead, we anticipate significant growth in the coming year, aligning our business trajectory with the dynamic AI market. We are poised to outperform traditional and legacy suppliers who have attempted to merely rebrand existing technology for AI applications. |
Although the journey thus far has demanded substantial financial investments and consumed significant time, a costly resource for a new start, we believe it has been crucial in building a robust platform. This platform has not only awakened the world to a new form of storage but also positioned PEAK:AIO for a globally successful future. We are proud of what we have achieved, and we remain steadfast in our commitment to driving innovation in the AI storage space. |
As we navigate the road ahead, we extend our gratitude to our dedicated team, loyal customers, and steadfast resellers who have believed in our vision from the outset. Together, we are shaping the future of AI storage, and we are excited about the limitless possibilities that lie ahead. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |