REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ROVEFREE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
ROVEFREE LIMITED |
ROVEFREE LIMITED (REGISTERED NUMBER: 06781009) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROVEFREE LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
24A Ainslie Place |
Edinburgh |
EH3 6AJ |
BANKERS: |
Hammersmith 2 |
Leicester |
LE87 2BB |
ROVEFREE LIMITED (REGISTERED NUMBER: 06781009) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 2023 |
The financial statements were approved by the director and authorised for issue on |
ROVEFREE LIMITED (REGISTERED NUMBER: 06781009) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Rovefree Limited is a |
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 |
Tangible fixed assets |
Computer Equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Computer |
Equipment |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
ROVEFREE LIMITED (REGISTERED NUMBER: 06781009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 January 2023 |
Revaluations |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Other |
investments |
£ |
Valuation in 2020 | 7,350 |
Valuation in 2021 | 19,817 |
Valuation in 2022 | (61,227 | ) |
Valuation in 2023 | 59,347 |
Cost | 75,696 |
100,983 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | RESERVES |
Revaluation |
reserve |
£ |
Investments revaluation | 25,287 |
Investments deferred tax | (4,805 | ) |
At 31 December 2023 |
ROVEFREE LIMITED (REGISTERED NUMBER: 06781009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
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 gains of £25,287. At the date of signing the accounts, the fair value of these investments had grown to £138,962, resulting in unrealised gains of £63,266. |
11. | BOUNCE BACK LOAN SCHEME |
The company 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. |
2023 | 2022 |
£ | £ |
< 1 year | 7,200 | 7,200 |
2-5 years | 10,200 | 17,400 |
> 5 years | - | - |
17,400 | 24,600 |