50 false false false false false false false false false false true false false false false false false No description of principal activity 2024-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,040,433 1,040,433 1,040,433 xbrli:pure xbrli:shares iso4217:GBP SC347669 2024-07-01 2025-06-30 SC347669 2025-06-30 SC347669 2024-06-30 SC347669 2023-07-01 2024-06-30 SC347669 2024-06-30 SC347669 2023-06-30 SC347669 bus:Director8 2024-07-01 2025-06-30 SC347669 core:WithinOneYear 2025-06-30 SC347669 core:WithinOneYear 2024-06-30 SC347669 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 SC347669 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 SC347669 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-06-30 SC347669 core:PatentsTrademarksLicencesConcessionsSimilar 2025-06-30 SC347669 core:PlantMachinery 2024-06-30 SC347669 core:FurnitureFittings 2024-06-30 SC347669 core:MotorVehicles 2024-06-30 SC347669 core:PlantMachinery 2025-06-30 SC347669 core:FurnitureFittings 2025-06-30 SC347669 core:MotorVehicles 2025-06-30 SC347669 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-01 2025-06-30 SC347669 core:PatentsTrademarksLicencesConcessionsSimilar 2024-07-01 2025-06-30 SC347669 core:PlantMachinery 2024-07-01 2025-06-30 SC347669 core:FurnitureFittings 2024-07-01 2025-06-30 SC347669 core:MotorVehicles 2024-07-01 2025-06-30 SC347669 core:AfterOneYear 2025-06-30 SC347669 core:AfterOneYear 2024-06-30 SC347669 core:ShareCapital 2025-06-30 SC347669 core:ShareCapital 2024-06-30 SC347669 core:SharePremium 2025-06-30 SC347669 core:SharePremium 2024-06-30 SC347669 core:RevaluationReserve 2025-06-30 SC347669 core:RevaluationReserve 2024-06-30 SC347669 core:OtherReservesSubtotal 2025-06-30 SC347669 core:OtherReservesSubtotal 2024-06-30 SC347669 core:RetainedEarningsAccumulatedLosses 2025-06-30 SC347669 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC347669 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 SC347669 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 SC347669 core:CostValuation core:Non-currentFinancialInstruments 2025-06-30 SC347669 core:Non-currentFinancialInstruments 2025-06-30 SC347669 core:Non-currentFinancialInstruments 2024-06-30 SC347669 core:PlantMachinery 2024-06-30 SC347669 core:FurnitureFittings 2024-06-30 SC347669 core:MotorVehicles 2024-06-30 SC347669 bus:SmallEntities 2024-07-01 2025-06-30 SC347669 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 SC347669 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 SC347669 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC347669 bus:FullAccounts 2024-07-01 2025-06-30
COMPANY REGISTRATION NUMBER: SC347669

Peacock Technology Limited

Filleted Unaudited Financial Statements

30 June 2025

Peacock Technology Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £

Fixed Assets

Intangible assets | 5 | 4,410,536 | 2,904,468
Tangible assets | 6 | 937,455 | 861,766
Investments | 7 | 1,040,433 | 1,040,433
| ------------ | ------------
| 6,388,424 | 4,806,667

Current Assets

Stocks | 708,701 | 202,281
Debtors | 8 | 4,834,500 | 3,448,804
Cash at bank and in hand | 52,235 | –
| ------------ | ------------
| 5,595,436 | 3,651,085

Creditors: amounts falling due within one year | 9 | 5,637,048 | 2,704,824
| ------------ | ------------
Net Current (Liabilities)/Assets | ( 41,612) | 946,261
| ------------ | ------------
Total Assets Less Current Liabilities | 6,346,812 | 5,752,928

Creditors: amounts falling due after more than one year | 10 | 1,422,824 | 104,742
| ------------ | ------------
Net Assets | 4,923,988 | 5,648,186
| ------------ | ------------

Capital and Reserves

Called up share capital | 218 | 211
Share premium account | 6,394,198 | 5,945,953
Revaluation reserve | 476,736 | 476,736
Other reserves | 1,040,419 | 1,040,419
Profit and loss account | ( 2,987,583) | ( 1,815,133)
| ------------ | ------------
Shareholders Funds | 4,923,988 | 5,648,186
| ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Peacock Technology Limited

Statement of Financial Position (continued)

30 June 2025
These financial statements were approved by the board of directors and authorised for issue on 13 November 2025 , and are signed on behalf of the board by:

Mr AG Cnossen
Director

Company registration number: SC347669

Peacock Technology Limited

Notes to the Financial Statements

Year Ended 30 June 2025
1. General Information
Peacock Technology Limited is a private company, limited by shares, registered in Scotland. The Company’s registered number is SC347669 and registered office address is Unit 13, Alpha Centre, Stirling University Innovation Park, Stirling, Stirlingshire, FK9 4NF. The principal activity of the company in the year under review was that of research, design, development and associated start-up manufacture of technology based products and machines.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due;- the costs incurred can be measured reliably.
Income Tax
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed. Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. With the exception of changes arising on the initial recognition of a business combination, the tax expense(income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income). Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Intangible Assets
Intangible assets are initially measured at cost, After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. An impairment loss has been recognised in the Profit and loss, following an assessment at the Balance Sheet date indicating the recoverable amount less any carrying value. Patents and licences are being amortised evenly over their estimated useful life of three years. Development costs are being amortised over either 5 years or nil, depending on the completeness of the project. Computer software is being amortised evenly over its estimated useful life of three years.
Research and Development
Expenditure on research activities is recognised in the income statement as an expense as incurred. Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 14% - 33% straight line
| Fixtures and fittings | - | 33% straight line
| Motor vehicles | - | 25% straight line
| Equipment | - | 33% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in Subsidiary
Investments in subsidiary undertakings are recognised at cost.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
Financial Instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Defined Contribution Plans
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 50 (2024: 38 ).
5. Intangible Assets

| Development costs | Patents, trademarks and licences | Computer software | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 July 2024 | 3,113,164 | 26,453 | 6,400 | 3,146,017
Additions | 1,574,814 | – | – | 1,574,814
| ------------ | -------- | ------- | ------------
At 30 June 2025 | 4,687,978 | 26,453 | 6,400 | 4,720,831
| ------------ | -------- | ------- | ------------
Amortisation |  |  |  |
At 1 July 2024 | 209,649 | 26,306 | 5,594 | 241,549
Charge for the year | 68,431 | 49 | 266 | 68,746
| ------------ | -------- | ------- | ------------
At 30 June 2025 | 278,080 | 26,355 | 5,860 | 310,295
| ------------ | -------- | ------- | ------------
Carrying amount |  |  |  |
At 30 June 2025 | 4,409,898 | 98 | 540 | 4,410,536
| ------------ | -------- | ------- | ------------
At 30 June 2024 | 2,903,515 | 147 | 806 | 2,904,468
| ------------ | -------- | ------- | ------------

6. Tangible Assets

| Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 July 2024 | 963,029 | 66,915 | 171,051 | 40,633 | 1,241,628
Additions | – | – | – | 6,413 | 6,413
| --------- | -------- | --------- | -------- | ------------
At 30 June 2025 | 963,029 | 66,915 | 171,051 | 47,046 | 1,248,041
| --------- | -------- | --------- | -------- | ------------
Depreciation |  |  |  |  |
At 1 July 2024 | 250,701 | 15,313 | 88,383 | 25,465 | 379,862
Charge for the year | 186,035 | 18,053 | 40,089 | 6,547 | 250,724
Disposals | ( 320,000) | – | – | – | ( 320,000)
| --------- | -------- | --------- | -------- | ------------
At 30 June 2025 | 116,736 | 33,366 | 128,472 | 32,012 | 310,586
| --------- | -------- | --------- | -------- | ------------
Carrying amount |  |  |  |  |
At 30 June 2025 | 846,293 | 33,549 | 42,579 | 15,034 | 937,455
| --------- | -------- | --------- | -------- | ------------
At 30 June 2024 | 712,328 | 51,602 | 82,668 | 15,168 | 861,766
| --------- | -------- | --------- | -------- | ------------

The net book value of tangible assets includes £286,849 (2024 - £82,668) in respect of assets held under hire purchase contracts. During the 2024 financial year, the company received fixed assets from a strategic partner as part of a contribution towards the Company's R&D program, with a fair value of £476,736 at the date of acquisition. These assets were transferred to the company at zero cost. In accordance with FRS 102 Section 17, "Property, Plant, and Equipment," the assets have been recognised at their fair value at the time of receipt, which represents their deemed cost. The valuation of £476,736 was determined based on the retail value as provided by the supplier. No consideration was paid for the transfer of these assets, and the difference between the deemed cost and the amount paid has been recognised under revaluation reserve in the financial statements. The assets are being depreciated over their estimated useful lives of 7 years.
7. Investments

| Shares in group undertakings
| £
Cost |
At 1 July 2024 and 30 June 2025 | 1,040,433
| ------------
Impairment |
At 1 July 2024 and 30 June 2025 | –
| ------------

Carrying amount |
At 30 June 2025 | 1,040,433
| ------------
At 30 June 2024 | 1,040,433
| ------------

8. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 861,001 | 659,586
Amounts owed by group undertakings | 2,591,307 | 2,337,345
Prepayments and accrued income | 270,845 | 122,542
Corporation tax repayable | 42,426 | 48,825
Directors loan account | 107,069 | 88,132
Other debtors | 961,852 | 192,374
| ------------ | ------------
| 4,834,500 | 3,448,804
| ------------ | ------------

9. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 382,454 | 506,815
Trade creditors | 2,280,602 | 875,009
Accruals and deferred income | 734,935 | 715,977
Social security and other taxes | 875,170 | 464,373
Obligations under finance leases and hire purchase contracts | 155,410 | 125,854
Other creditors | 1,208,477 | 16,796
| ------------ | ------------
| 5,637,048 | 2,704,824
| ------------ | ------------

Hire purchase agreements are secured on the assets to which they relate.
As at 30 June 2025 the company has a trade loan with Santander for the purchase of raw materials and general working capital, with a maximum facility of £500k. At the year end, £391k has been drawn under the facility. Security is a Bond & Floating charge over the assets of Peacock Technology Limited , Ice Robotics Holdings Ltd & IceRobotics Ltd.
10. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 15,999 | 14,167
Obligations under finance leases and hire purchase contracts | 129,325 | 90,575
Convertible Loan Notes | 1,277,500 | –
| ------------ | ---------
| 1,422,824 | 104,742
| ------------ | ---------

Hire purchase agreements are secured on the assets to which they relate.
11. Directors' Advances, Credits and Guarantees
During the year the director loan accrued interest of £3,114. The loan attracts interest at 4% and the amount owed at the balance sheet date was £107,068.79 (2024: £88,132).
12. Controlling Party
No one person in isolation has control over the company.