REGISTERED NUMBER: 06781009 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ROVEFREE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

821

-

Investments

5

265,375

100,983

266,196

100,983

CURRENT ASSETS

Debtors

6

105

95

Cash at bank

21,112

59,320

21,217

59,415

CREDITORS

Amounts falling due within one year

7

9,629

9,530

NET CURRENT ASSETS

11,588

49,885

TOTAL ASSETS LESS CURRENT LIABILITIES

277,784

150,868

CREDITORS

Amounts falling due after more than one year

8

(3,000

)

(10,200

)

PROVISIONS FOR LIABILITIES

(32,205

)

(4,805

)

NET ASSETS

242,579

135,863

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

9

136,474

20,482

Retained earnings

106,104

115,380

SHAREHOLDERS' FUNDS

242,579

135,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 3 October 2025 and were signed by:

NJP Sheahan - Director

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 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

Equipment

£

COST

At 1 January 2024

1,799

Additions

1,094

At 31 December 2024

2,893

DEPRECIATION

At 1 January 2024

1,799

Charge for year

273

At 31 December 2024

2,072

NET BOOK VALUE

At 31 December 2024

821

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

100,983

Additions

21,000

Revaluations

143,392

At 31 December 2024

265,375

NET BOOK VALUE

At 31 December 2024

265,375

At 31 December 2023

100,983

Cost or valuation at 31 December 2024 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

Valuation in 2024

143,393

Cost

96,695

265,375

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

105

95

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,200

7,200

Other creditors

2,429

2,330

9,629

9,530

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

3,000

10,200

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

20,482

Investments revaluation

115,992

At 31 December 2024

136,474

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 £168,679. At the date of signing the accounts, the fair value of these investments had grown to £304,117, resulting in unrealised gains of £207,423.

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.

2024

2023

£

£

< 1 year

7,200

7,200

2-5 years

3,000

10,200

> 5 years

-

-

10,200

17,400