Registration number: 10432153

Fieldwork Robotics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

Fieldwork Robotics Limited

Company Information

Directors

Dr M F Stoelen Mr J W C Pollock Ms M Seibel Mr D B Fulton Mr S H Crawford

Registered office

28 Alexandra Terrace Exmouth Devon EX8 1BD

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Fieldwork Robotics Limited

(Registration number: 10432153)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	5,734,160	4,459,284
Tangible assets	5	12,811	20,164
Investments	6	274	84
		5,747,245	4,479,532
Current assets
Debtors	7	506,109	255,203
Cash at bank and in hand		4,064	228,207
		510,173	483,410
Creditors: Amounts falling due within one year	8	(717,256)	(222,868)
Net current (liabilities)/assets		(207,083)	260,542
Net assets		5,540,162	4,740,074
Capital and reserves
Called up share capital		251	250
Share premium reserve		4,538,853	4,467,234
Retained earnings		1,001,058	272,590
Shareholders' funds		5,540,162	4,740,074

Fieldwork Robotics Limited

(Registration number: 10432153)
Balance Sheet as at 31 October 2025

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 May 2026 and signed on its behalf by:
 

......................................... Mr D B Fulton Director

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Recognised within turnover is grant income received during the period relating to work undertaken by the company in regard to specific research and development projects.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Other grants

Income grants recieved have been recognised under the accrual model and are credited to income when all performance conditions have been met in full.

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Office equipment	50% straight line basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Development costs

Development expenditure is written off in the financial year in which it is incurred, unless it relates to the development of a new or substantially improved product, is incurred after the technical feasibility and economic viability of the product has been proven and the decision to complete the development has been taken, and can be measured reliably. Such expenditure is capitalised as an intangible asset in the Balance Sheet at cost and is amortised through the Profit and Loss account.

Subsequent expenditure is capitalised only where it either enhances the economic benefits of the development asset or replaces part of the existing development asset. Any remaining costs associated with the part replaced are expensed.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Development costs	Straight line over 5 years upon successful development
Patent costs	Straight line over the individual patents legal protection period

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 14).

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4	Intangible assets

	Trademarks, patents and licenses  £	Development costs  £	Total £
Cost or valuation
At 1 November 2024	161,608	4,297,676	4,459,284
Additions	19,789	1,255,912	1,275,701
At 31 October 2025	181,397	5,553,588	5,734,985
Amortisation
Amortisation charge	825	-	825
At 31 October 2025	825	-	825
Carrying amount
At 31 October 2025	180,572	5,553,588	5,734,160
At 31 October 2024	161,608	4,297,676	4,459,284

5	Tangible assets

	Land and buildings £	Office equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 November 2024	8,167	31,641	6,423	46,231
Additions	-	5,830	-	5,830
Disposals	-	(3,998)	-	(3,998)
At 31 October 2025	8,167	33,473	6,423	48,063
Depreciation
At 1 November 2024	-	24,190	1,877	26,067
Charge for the year	1,633	8,367	1,184	11,184
Eliminated on disposal	-	(1,999)	-	(1,999)
At 31 October 2025	1,633	30,558	3,061	35,252
Carrying amount
At 31 October 2025	6,534	2,915	3,362	12,811
At 31 October 2024	8,167	7,451	4,546	20,164

Included within the net book value of land and buildings above is £6,533 (2024 - £8,167) in respect of freehold land and buildings.
 

Fieldwork Robotics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6	Investments

	2025 £	2024 £
Investments in subsidiaries	274	84