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 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		66		88
			66		88
Current assets
Debtors	4	11,618		-
		11,618		-
Creditors amounts falling due within one year	5	(62,614)		(61,604)
Net current assets (liabilities)			(50,996)		(61,604)
Total assets less current liabilities			(50,930)		(61,516)
Net assets			(50,930)		(61,516)
Capital and reserves
Called up share capital			1		1
Profit and loss account			(50,931)		(61,517)
Shareholders' funds			(50,930)		(61,516)

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 31 July 2026, 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 2025

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.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	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.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 25	208	1,794	2,002
At 31 December 25	208	1,794	2,002
Depreciation and impairment
At 01 January 25	120	1,794	1,914
Charge for year	22	-	22
At 31 December 25	142	1,794	1,936
Net book value
At 31 December 25	66	-	66
At 31 December 24	88	-	88

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Deferred tax asset, debtors	11,618	-
Total	11,618	-

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	934	-
Other creditors	60,670	59,590
Accrued liabilities and deferred income	1,010	2,014
Total	62,614	61,604

6.	Related party transactions
	During the year, accountancy fees of £1,080 were paid on behalf of the company by Latch Ventures Limited, a related party by virtue of common directors. At the balance sheet date, the amount due to Latch Ventures Limited in respect of these payments was £60,222 (2024 : £59,142).

7.	Controlling party
	The company's ultimate controlling party is James Alexander Robert Connelly, by virtue of his controlling shareholding.