Hero image: MindsEye screenshot. Image: Build A Rocket Boy
Build A Rocket Boy, the Edinburgh studio behind MindsEye, has appointed an administrator.
The notice sits in the company’s filing history at Companies House. Build A Rocket Boy Ltd. filed form AM01(Scot), Appointment of an administrator, on 25 September 2026.
The form itself is not public yet. Companies House lists it as a document that “is being processed and will be available in 10 days”, so the administrator’s name cannot be confirmed from the register.
The company’s last accounts can be read. The group accounts cover the nine months from 1 January to 30 September 2025, and were filed on 6 July 2026.
For that period, the group reported revenue of £4.6 million and total operating costs of £52.1 million. Cash at the balance sheet date was £19.4 million, down from £52 million at the end of 2024.
The group recorded a net loss of £36.2 million.
The strategic report describes the launch of MindsEye in these words: “In June 2025, IOI Interactive released MindsEye globally across multiple platforms. Although the launch presented challenges, the Group is proud of the continued dedication and resilience of its employees, who have focused on delivering updates, performance improvements, and additional missions.”
The going concern section of the directors’ report, signed by director R Hodgson on 10 February 2026, set out the risk. It pointed to preference shares carrying a current liability of about £17 million.
“The preference shares current liability of c.£17m becoming payable in the near term would potentially require as yet unsecured alternative funding in order to be satisfied. However, the directors are confident that these shares could be restructured and will not be redeemed fully in the next 12 months. They are in discussions with shareholders regarding their conversion to equity, although it is acknowledged that until such matters are concluded this presents material uncertainty that may cast doubt on the group and company’s ability to continue as a going concern.”
The same section said the group’s forecasts to 30 April 2027 depended on new releases, and that “the launch and re-launch of its game candidates in 2026 will provide sufficient funding beyond the next 12 months.”
The auditor did not modify its opinion, but it drew attention to the same point. Its report states that these conditions “may cast significant doubt on the group and company’s ability to continue as a going concern.”
More than seven months after that report was signed, the company is in administration.
Source: Companies House – Build A Rocket Boy Ltd. filing history, Companies House – Build A Rocket Boy Ltd. group accounts to 30 September 2025