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REGISTERED NUMBER: 06781009 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ROVEFREE LIMITED

ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROVEFREE LIMITED

COMPANY INFORMATION
for the year ended 31 December 2022







DIRECTOR: NJP Sheahan



SECRETARY: NJP Sheahan



REGISTERED OFFICE: 108A Queens Court
Queensway
London
W2 4QR



REGISTERED NUMBER: 06781009 (England and Wales)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Barclays
Hammersmith 2
Leicester
LE87 2BB

ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

BALANCE SHEET
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,071 1,196
Investments 5 41,635 62,970
42,706 64,166

CURRENT ASSETS
Debtors 6 1,776 1,769
Cash at bank and in hand 78,064 134,000
79,840 135,769
CREDITORS
Amounts falling due within one year 7 15,387 17,657
NET CURRENT ASSETS 64,453 118,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,159

182,278

CREDITORS
Amounts falling due after more than one year 8 (17,400 ) (24,600 )

PROVISIONS FOR LIABILITIES - (5,389 )
NET ASSETS 89,759 152,289

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 - 22,005
Retained earnings 89,758 130,283
SHAREHOLDERS' FUNDS 89,759 152,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

BALANCE SHEET - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 November 2023 and were signed by:





NJP Sheahan - Director


ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2022


1. STATUTORY INFORMATION

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

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 25% on cost

Financial instruments
Bank loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Other investments
The company carries investment at fair value with changes in fair value being recognised in the Income Statement. Increases in the fair value together with the related deferred tax are transferred to a Revaluation Reserve. Reductions in the fair value are reflected through the Revaluation Reserve to the extent the Reserve is in credit.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
Equipment
£   
COST
At 1 January 2022 2,394
Additions 829
Disposals (595 )
At 31 December 2022 2,628
DEPRECIATION
At 1 January 2022 1,198
Charge for year 657
Eliminated on disposal (298 )
At 31 December 2022 1,557
NET BOOK VALUE
At 31 December 2022 1,071
At 31 December 2021 1,196

ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2022 62,970
Additions 39,892
Revaluations (61,227 )
At 31 December 2022 41,635
NET BOOK VALUE
At 31 December 2022 41,635
At 31 December 2021 62,970

Cost or valuation at 31 December 2022 is represented by:

Other
investments
£   
Valuation in 2020 7,350
Valuation in 2021 19,817
Valuation in 2022 (61,227 )
Cost 75,695
41,635

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 1,776 1,769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 7,200 7,200
Other creditors 8,187 10,457
15,387 17,657

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 17,400 24,600

9. RESERVES
Revaluation
reserve
£   
At 1 January 2022 22,005
Investments revaluation (22,005 )

At 31 December 2022 -

ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2022


10. POST BALANCE SHEET EVENTS

The market value of investments held by the Company increased after the year end. The Company did not adjust the financial statements as the events in question did not exist at the balance sheet date. At the balance sheet date, Investments in Cryptocurrencies showed unrealised losses of £34,060. At the date of signing the accounts, the fair value of these investments had grown to £86,201, resulting in unrealised gains of £10,506.

11. BOUNCE BACK LOAN SCHEME

The company has borrowed £36,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.

2022 2021
£    £   
< 1 year 7,200 7,200
2-5 years 17,400 24,600
> 5 years - -
24,600 31,800