Preheat oven to 180C.
Mix the warm water with flax seed powder and allow to rest for 10 minutes.
Powder the sugars together. (Optional)
Sieve the flour with baking soda, baking powder, salt, cinnamon powder and nutmeg powder. Keep aside.
Whisk the flax seed powder mix in a bowl.
Add oil, sugars and vanilla essence and mix well.
Gradually add the flour mixture into it.
Add the grated carrots and nuts.
Add the milk and mix well.
Pour the batter into prepared cake tin.
Bake in the oven for approximately 45 minutes or till a skewer inserted in the centre of the cake comes out clean.
Allow the cake to cool completely before serving.