FLAXEBAY LIMITED


Directors	CONNELLY, James Alexander Robert
	JONES, Matthew Douglas


Registered Address	1 Gemini Court
	42a Throwley Way
	Sutton
	SM1 4AF


Registered Number	12857168 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		88		674
			88		674
Current assets
Debtors		-		736
		-		736
Creditors amounts falling due within one year	4	(61,604)		(61,406)
Net current assets (liabilities)			(61,604)		(60,670)
Total assets less current liabilities			(61,516)		(59,996)
Net assets			(61,516)		(59,996)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(61,517)		(59,997)
Shareholders' funds			(61,516)		(59,996)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2025, and are signed on its behalf by:

JONES, Matthew Douglas
Director
Registered Company No. 12857168

FLAXEBAY LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	25	-
Office Equipment	-	3

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 24	208	1,794	2,002
At 31 December 24	208	1,794	2,002
Depreciation and impairment
At 01 January 24	91	1,237	1,328
Charge for year	29	557	586
At 31 December 24	120	1,794	1,914
Net book value
At 31 December 24	88	-	88
At 31 December 23	117	557	674

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	59,142	60,325
Bank borrowings and overdrafts	448	1
Accrued liabilities and deferred income	2,014	1,080
Total	61,604	61,406

5.	Related party transactions
	A balance of £59,142 was due to Latch Ventures Ltd, a related party as at 31st December 2024 (PY : £60,325).