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REGISTERED NUMBER: 06781009 (England and Wales)















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: 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 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,071
Investments 5 100,983 41,635
100,983 42,706

CURRENT ASSETS
Debtors 6 95 1,776
Cash at bank and in hand 59,320 78,064
59,415 79,840
CREDITORS
Amounts falling due within one year 7 9,530 15,387
NET CURRENT ASSETS 49,885 64,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,868

107,159

CREDITORS
Amounts falling due after more than one year 8 (10,200 ) (17,400 )

PROVISIONS FOR LIABILITIES (4,805 ) -
NET ASSETS 135,863 89,759

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 20,482 -
Retained earnings 115,380 89,758
SHAREHOLDERS' FUNDS 135,863 89,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 2023


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 24 September 2024 and were signed by:





NJP Sheahan - Director


ROVEFREE LIMITED (REGISTERED NUMBER: 06781009)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


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 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
Equipment
£   
COST
At 1 January 2023 2,628
Disposals (829 )
At 31 December 2023 1,799
DEPRECIATION
At 1 January 2023 1,557
Charge for year 450
Eliminated on disposal (208 )
At 31 December 2023 1,799
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,071

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 41,635
Revaluations 59,348
At 31 December 2023 100,983
NET BOOK VALUE
At 31 December 2023 100,983
At 31 December 2022 41,635

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 95 1,776

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,200 7,200
Other creditors 2,330 8,187
9,530 15,387

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 10,200 17,400

9. RESERVES
Revaluation
reserve
£   
Investments revaluation 25,287
Investments deferred tax (4,805 )

At 31 December 2023 20,482

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