The story of Peaky Blinders is set in 1919 in Birmingham, England. It begins with a young man named Thomas Shelby (Cillian Murphy), also known as Tommy, visiting a fortune-teller in a small village to seek help so his horse can win a racing competition. Tommy is the leader of a gang called Peaky Blinders, whose presence instills fear among the locals. He founded the gang with his family members: his eldest brother Arthur Shelby (Paul Anderson), his younger brothers John Shelby (Joe Cole) and Finn Shelby (Alfie Evans-Meese), his sister Ada Shelby (Sophie Rundle), and their Aunt Polly (Helen McCrory), who acts as a mother figure to them all. Arthur disapproves of Tommy’s decision to involve mysticism in the horse race, fearing that their rival, gangster Billy Kimber (Charlie Creed-Miles), might find out.
Meanwhile, a police inspector named Major Chester Campbell (Sam Neill) is reviewing a classified file about stolen weapons and ammunition that were intended to be shipped to Libya. Arthur and Thomas Shelby are among the prime suspects in the theft. Elsewhere, at a factory, a communist activist named Freddie Thorne (Iddo Goldberg) is delivering a speech, urging workers to go on strike. Freddie and Tommy were once close friends during their military service, but their differing political views have turned them into adversaries. News spreads that the police are targeting members of the Peaky Blinders, leaving Arthur both angry and confused. He believes their horse-racing betting business has been running safely and shouldn’t have attracted police attention.
That night, Tommy confides in Aunt Polly that he and his men were indeed behind the theft of the weapons and ammunition, which explains why the police are after them. Elsewhere, Ada Shelby is revealed to be secretly dating Freddie, a relationship Tommy would undoubtedly disapprove of. The next day, a beautiful woman named Grace Burgess (Annabelle Wallis) applies for a job as a barmaid at a pub frequented by Tommy. Meanwhile, Chester arrests and interrogates Arthur, trying to extract a confession about the theft. However, Arthur genuinely knows nothing about the stolen goods and is eventually released, though badly beaten. On a train, Chester reports to Foreign Secretary Winston Churchill (Andy Nyman), who insists that the case must be solved before it leaks to the press.
Tommy seeks help from Charlie Strong (Ned Dennehy), who is like an uncle to him, to hide the stolen weapons and ammunition, making them harder for the police to trace. The next day, at a museum, Chester meets with Grace, who is revealed to be a police informant. Grace suspects that the real perpetrators of the theft are the Irish Republican Army (IRA), a militant organization opposing British rule at the time. Elsewhere, to avoid a gang war, Tommy stages an execution of one of his own men, Danny (Samuel Edward-Cook), in front of the Italians after Danny killed one of their members. However, the execution is a ruse to fake Danny’s death. Tommy then secretly sends Danny, who everyone believes is dead, to London to act as a spy for the Peaky Blinders.
The next day, Tommy and his siblings are seen traveling to attend an event. On the way, Tommy stops to purchase a white horse from Johnny Dogs (Packy Lee), a former military comrade now associated with the Lee Clan gang. While Tommy and his siblings are still en route, Chester and his forces raid the homes of all residents, searching for the stolen weapons and ammunition. Upon returning, Tommy finds his territory in disarray from the police raids. He apologizes to the residents and compensates them with money for their losses. In return, Tommy asks the residents to burn photos of the King of England and invites a journalist to cover the protest. This act of defiance reaches the ears of Foreign Secretary Winston Churchill.
The following day, Tommy checks on the white horse he purchased from the Lee Clan. At the stables, Uncle Charlie delivers a package sent by the Lee Clan to Tommy. The package contains a bullet engraved with Tommy’s name—a clear threat or declaration of war. Meanwhile, back at home, Aunt Polly discovers that Ada is pregnant with Freddie’s child. When Tommy learns of the pregnancy, he becomes furious, as he does not approve of his sister’s relationship with Freddie. Amid his anger over his sister’s situation, Tommy meets with Chester to negotiate. Tommy demands that the police stay out of Peaky Blinders’ affairs. He admits to possessing the stolen weapons and ammunition and threatens to sell them to the IRA if the police continue to interfere with Peaky Blinders’ operations.
A few days later, Charlie informs Tommy that the white horse he recently bought has developed an incurable illness. Unwilling to let the horse suffer, Tommy is forced to shoot it, leaving him heartbroken. To lift his spirits, Tommy visits the bar, where Grace sings a song to cheer him up. Touched by her gesture, Tommy invites Grace to accompany him to an upcoming horse race and even gives her money to buy a beautiful dress for the event. The next day, Aunt Polly takes Ada to the station, intending to help her terminate her pregnancy. However, Freddie unexpectedly shows up and proposes to Ada. He tells her he doesn’t care about Tommy’s disapproval and vows to stay in the city with her and their unborn child.
While Tommy and the Peaky Blinders gather at the bar, Billy Kimber and his gang arrive, accusing them of cheating in horse races. Tommy seizes the opportunity to show Billy the bullet he received from the Lee Clan as a declaration of war, knowing that Billy is also at odds with the Lees. Tommy uses this shared animosity to propose an alliance with Billy. Later, Tommy meets with two members of the Irish Republican Army (IRA) who want to purchase the stolen weapons and ammunition. Tommy denies any knowledge of the weapons, feigning ignorance. Grace, having learned of the IRA’s interest in the weapons, reports it to Chester. She tails one of the IRA members but is eventually discovered. In a stroke of luck, Grace manages to kill the IRA member, preserving her cover as an informant.
Tommy soon hears that Ada and Freddie have married, fueling his anger. In response, Aunt Polly delivers money to the couple, encouraging them to leave the city for their safety. Freddie, however, refuses, boldly stating he isn’t afraid of Tommy. Later, while Tommy sits by the river, Freddie confronts him, pointing a gun at Tommy’s head and returning Polly’s money and tickets. Tommy swiftly disarms Freddie, pointing his own gun back at him. Tommy coldly declares that Freddie will never amount to anything and will never be accepted into the Shelby family, even as Ada’s husband. The next day, Danny reports that an IRA member has been killed, and the Peaky Blinders are being blamed for it. Tommy sends Danny to clarify the misunderstanding, aiming to prevent further complications.
The day of the horse race finally arrives, and Tommy accompanies Grace to the event. Meanwhile, Arthur assembles the Peaky Blinders to thwart the Lee Clan’s plan to steal money from the race. Arthur and his men ambush the Lee members, confiscating the stolen money. They hand it over to Billy Kimber in exchange for granting the Peaky Blinders control over the day’s horse race. Billy agrees, but only if he can have Grace to himself for two hours. Reluctantly, Tommy allows this but grows anxious about Grace’s safety. His fears prove justified when Billy attempts to assault Grace. Tommy intervenes just in time, fabricating a story that Grace has syphilis to deter Billy.
Elsewhere, Ada and Freddie are strolling through the city when they are approached by Stanley Chapman (John-Paul Hurley) from the Communist Party. Stanley hands Freddie revolutionary funds from Russia. Back at the Peaky Blinders’ headquarters, the gang is preoccupied with managing the profits from the horse race. Amidst the chaos, they fail to notice a young boy sneaking into the building. Shortly after, Tommy and his family leave the headquarters for a family meeting, leaving only one member to stand guard.
The young boy unlocks the door from inside, allowing the Lee Clan to enter. Seeking revenge for the ambush at the race, the Lees beat up the lone guard and steal all the money stored there. During the family meeting, John Shelby reveals that he has fallen for Lizzie Stark (Natasha O’Keeffe). His family reacts with shock and laughter since Lizzie is a well-known prostitute, making her an unsuitable match in their eyes. Despite their protests, John insists on marrying Lizzie, believing she has turned over a new leaf. Suddenly, the young boy who infiltrated the headquarters arrives and reports the attack. The family rushes back to find their headquarters ransacked and all their money stolen by the Lee Clan. To make matters worse, the Lees leave behind a bomb that nearly kills Finn.
After their headquarters is attacked, Tommy wastes no time confronting the Lee Clan. He meets privately with Zilpha Lee (Therese Bradley), the clan’s matriarch, to propose an alliance. This coalition would involve betraying Billy Kimber, a long-standing enemy of the Lee Clan. Seeing an opportunity to settle old scores, Zilpha agrees to the partnership. Later that night, Tommy meets Chester to relay critical information about Stanley receiving Russian revolutionary funds. Using this as leverage, Tommy demands Freddie’s release in return. With Freddie’s freedom secured, the conversation shifts to the stolen weapons and ammunition.
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Chester explains that Minister Churchill is pressuring him to recover the stolen arms, threatening his career if he fails. In frustration, Chester vows to destroy the Peaky Blinders if he loses his position. This threat momentarily shakes Tommy, nearly leading him to shoot Chester from behind, but he ultimately regains his composure. The following day, Chester raids Stanley’s home and arrests him. News of Stanley’s capture alarms Aunt Polly, prompting her to urge Freddie to flee the city. However, Freddie remains defiant, refusing to abandon his ideals or his new family. Under harsh interrogation, Stanley succumbs to his injuries, dying without revealing anything about the stolen arms.
Meanwhile, celebrations erupt at the Peaky Blinders’ headquarters. The Shelby family has just secured their first legal horse racing track, marking a significant milestone for their business. Amid the festivities, Grace remains focused on her mission to uncover the whereabouts of the stolen weapons. Knowing Tommy’s trust in her is limited, she targets Arthur for information instead. During a casual conversation, Arthur unwittingly reveals that Tommy keeps a storage facility near a remote crossroads, out of police reach. Grace quickly passes this information to Chester, who leads a raid on the location. However, the search turns up nothing but a stash of cigarettes and liquor, leaving Chester empty-handed once again.
Grace was interrogated by Tommy for being deemed overly involved in the family business. She managed to evade suspicion and even convinced Tommy to hire her as his assistant. The next day, Tommy met Lizzie, the escort whom John wanted to marry. He deliberately tempted Lizzie to see if she had truly changed. Lizzie, however, proved to still be a woman easily swayed by money. Tommy then told John everything, encouraging him to consider whether Lizzie was truly the right woman for him. Realizing the truth, John decided he no longer wanted to marry Lizzie. Tommy advised him to rest because they planned to settle matters with the Lee Clan the following day.
The next morning, Tommy and the Peaky Blinders headed to the Lee Clan’s headquarters. The gang members wore fierce expressions, ready for what seemed to be an imminent showdown between rival gangs. But before they arrived, they unexpectedly pulled out flowers and tidied John’s appearance. In a surprising twist, rather than fighting, the two families prepared to marry John to Esme Shelby (played by Aimee-Ffion Edwards), the daughter of Zilpha. Initially, John resisted the sudden matchmaking, especially with a woman he had never met. However, upon seeing the beauty of his bride-to-be, he quickly changed his mind with excitement. Thanks to John and Esme’s marriage, the Peaky Blinders officially formed an alliance with the Lee Clan. That night, they celebrated their newfound peace with a festive party.
During the wedding festivities, Ada suddenly felt pain as she went into labor. Freddie, who was away at the time, hurried back to see his child. Just as they began to experience happiness, the police abruptly arrived and arrested Freddie. Tommy was then confronted by Aunt Polly, who accused him of orchestrating Freddie’s arrest. The incident also left Ada heartbroken, causing her to lock herself in her room. Tommy explained to Aunt Polly that he was not behind the arrest. On the contrary, he had negotiated with the police to lift Freddie’s fugitive status. Tommy himself suspected that Grace might have been involved in the arrest. Amidst his suspicions, Tommy deliberately told Grace that the Peaky Blinders planned to attack Billy Kimber in the coming days.
A few days later, John and Arthur visited an illegal fighting arena to recruit fighters for the Peaky Blinders. There, they unexpectedly encountered Arthur Shelby Sr. (played by Tommy Flanagan), their long-lost father. Arthur brought his father back home, but this decision was met with little support from the rest of the family. Arthur Shelby Sr. had abandoned his family years ago, leaving Aunt Polly to step in and raise the children. As the eldest son, Arthur tried to defend his father, arguing that he was still their father despite everything. This stance angered Tommy, who told Arthur to leave if he wanted to side with their father. Feeling humiliated, Arthur went to a bar and took some money.
While Arthur was drunk, Grace seized the opportunity to question him about money being sent to someone named Daniel Owen. Arthur revealed that the money was for Danny, who was now in London. Grace was confused because she believed Danny had been executed by Tommy. Arthur divulged that the Peaky Blinders had faked Danny’s death and sent him to London. This revelation made Grace suspect that Danny’s supposed grave might actually be a hiding place for Tommy’s weapons and ammunition. Later that night, Arthur took the youngest Shelby sibling, Finn, to meet their father. During the meeting, their father proposed a business venture and even asked Arthur to inform Tommy about it. Arthur asserted that Tommy wasn’t the only one in the Shelby family capable of handling business matters.
Meanwhile, Tommy met with Malacki Byrne (played by Tom Vaughan-Lawlor), a representative of the IRA. Byrne pressed Tommy to disclose the location of the weapons and ammunition, citing the loss of one of their members. Confronted with this, Tommy admitted to possessing the weapons and ammunition. He arranged a meeting to conduct a transaction with two IRA members at a bar. Before the meeting, however, Tommy secretly coordinated with Chester to plan Byrne’s arrest. Upon arriving at the bar, Tommy instructed Grace to hide because the two IRA members were expected to arrive shortly. He armed Grace with a pistol but strictly prohibited her from shooting anyone, as the police wanted to apprehend the IRA members alive.
Byrne and another IRA member eventually arrived to finalize their transaction with Tommy. However, Grace suddenly appeared and fired several shots, leading to a scuffle that resulted in the deaths of both IRA members. When the police arrived, they agreed to keep the incident a secret. Following the events, Grace reported to Chester, confessing that she was the one who killed the two IRA members. She also disclosed the location of Tommy’s hidden weapons and ammunition. However, Grace struck a deal with Chester: after he recovered the weapons, she would resign and requested that Chester leave Tommy’s life alone. With Grace’s information, Chester successfully uncovered the weapons and ammunition at Danny’s fake grave.
After retrieving the missing arsenal, Chester proposed to Grace, presenting her with a ring. However, Grace, who had already fallen for Tommy, refused his proposal. Elsewhere, Arthur hurriedly rushed to the station to catch up with his father, only to find that he had taken the money Arthur gave him and vanished. Meanwhile, Tommy discovered that his stash of weapons and ammunition had been compromised. Realizing that the stolen cache had been his leverage with the police, Tommy knew his life was now in grave danger. Chester, infuriated by Grace’s rejection and suspecting her feelings for Tommy, sought revenge. Before returning to London, Chester leaked the Peaky Blinders’ planned attack on Billy Kimber.
The next day, Tommy met with Arthur, who was distraught after being deceived by their father. Tommy reassured his brother, explaining that the Shelby family business shares in the Peaky Blinders were divided fairly, ensuring that Arthur didn’t need to feel inferior or believe Tommy had more power than the rest of the family. During their conversation, Tommy also shared that Chester and the police, who had been disrupting their business for months, had left Birmingham. The police withdrew after recovering the weapons and ammunition they were searching for. Tommy’s words comforted Arthur, who felt much better afterward. From that day on, the Shelby family business flourished, and the Peaky Blinders grew even more prominent.
The Final Battle with Billy
A few days later, the Shelby family prepared for their assault on Billy Kimber. In a separate room, Aunt Polly spoke with Ada, who had finally reconciled with the family. Tommy rallied the Peaky Blinders, readying them for the attack on Billy’s headquarters. Before leaving for battle, Tommy bid farewell to Grace, who responded with tears and an apology. However, their plans were soon disrupted when one of Tommy’s men reported that Billy Kimber had discovered their strategy. Billy was already mobilizing a force three times larger than the Peaky Blinders. Tommy was baffled as to how their plans had been leaked. Aunt Polly voiced her suspicion that Grace was the informant.
Aunt Polly instructed Tommy to deal with Billy while she confronted Grace. When Polly interrogated her, Grace was forced to draw a pistol for self-defense. Polly, maintaining her composure, urged Grace to put the weapon down, insisting that the matter could be resolved without violence. Polly declared that while Tommy might forgive Grace for her betrayal, she never would. Meanwhile, the Peaky Blinders and Billy Kimber’s forces came face to face. Unexpectedly, Danny and Freddie arrived with additional firepower, bolstering the Peaky Blinders’ ranks. Just as the tension reached its peak, Ada appeared with her baby, pleading for peace and trying to halt the impending violence. However, Billy ignored her and coldly shot Tommy and Danny, leaving both men wounded.
In a shocking turn, Tommy, presumed dead, managed to rise and fire a single, precise shot that struck Billy in the head, killing him instantly. The battlefield fell silent as everyone processed Billy’s death. Before the two sides could descend into chaos, Tommy declared that the fight was over, as it had only been between him and Billy Kimber. He ordered both sides to disperse, averting further bloodshed. After the battle, Tommy endured excruciating pain while undergoing surgery without anesthesia to treat his wounds. The Shelby family also mourned deeply for Danny, who had died in the conflict. Despite their losses, the Shelby family emerged victorious. With Billy Kimber gone, they were officially recognized as the owners of the third-largest horse-racing betting operation in England. Thus, the first season of Peaky Blinders came to a dramatic and emotional conclusion.