Flaxmill Way Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 15513365

Flaxmill Way Ltd

Filleted Unaudited Financial Statements

31 March 2025

Flaxmill Way Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Current assets

Stocks		2,890,400	–
Debtors	5	167,402	–
Cash at bank and in hand		15,894	100
		------------	----
		3,073,696	100

Creditors: amounts falling due within one year	6	2,992,006	–
		------------	----
Net current assets		81,690	100
		--------	----
Total assets less current liabilities		81,690	100
		--------	----
Net assets		81,690	100
		--------	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	81,590	–
	--------	----
Shareholders funds	81,690	100
	--------	----

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 31 March 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 .

These financial statements were approved by the board of directors and authorised for issue on 6 November 2025 , and are signed on behalf of the board by:

MR J T E Wroot

Director

Company registration number: 15513365

Flaxmill Way Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Brewery Road, Crowle, Scunthorpe, DN17 4LZ.

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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10,800	–
Other debtors	156,602	–
	---------	----
	167,402	–
	---------	----

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,559,521	–
Trade creditors	1,386,998	–
Corporation tax	27,197	–
Other creditors	18,290	–
	------------	----
	2,992,006	–
	------------	----

During the year ended 31 March 2025 the company acquired a loan from Together Commercial Finance Ltd. The funds were received in various tranches throughout the year and at 31 March 2025 the amount owed on this loan was £1,559,521. This loan is secured by a fixed and floating legal charge over the company's land and properties in Flaxmill Way, Lakeside, Ealand and on all other assets of the company.

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
MR J T E Wroot	–	( 6,000)	6,000	–
Mrs C Wroot	–	( 6,000)	6,000	–
	----	--------	--------	----
	–	( 12,000)	12,000	–
	----	--------	--------	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
MR J T E Wroot	–	–	–	–
Mrs C Wroot	–	–	–	–
	----	----	----	----
	–	–	–	–
	----	----	----	----

8. Related party transactions

The directors of the company, Jonathan and Clare Wroot, are directors and shareholders of the company's parent company, Lakes Ealand 18 Ltd (each owning 50% of the issued share capital of that company) as well as being directors and shareholders of Wroot Contracts Ltd (each owning one-third of the issued share capital of that company), Wroot Homes Ltd (each owning 50% of the issued share capital of that company), Lakes Ealand Ltd (each owning 50% of the issued share capital of that company) and Lakes Ealand Management Ltd (each owning 50% of the issued share capital of that company). Numerous transactions were made during the year between the company and its parent company, Lakes Ealand Ltd. At 31 March 2025 the company owed its parent company £548,681 in connection with goods and services supplied by that company during the year. Throughout the year various funds (loans) were transferred between the two companies to assist cash flow for both companies. At 31 March 2025, Lakes Ealand 18 Ltd owed Flaxmill Way Ltd £4,800. During the year ended 31 March 2025, Wroot Homes Ltd provided goods and services to Flaxmill Way Ltd amounting to £2,166,269 (2024: £nil). At 31 March 2025, the company still owed £694,368 to Wroot Homes Ltd in connection with these goods and services. The company advanced loans of £48,000 to Wroot Homes Ltd during the year ended 31 March 2025, of which £42,000 was subsequently repaid, leaving £6,000 still owed by Wroot Homes Ltd at 31 March 2025.