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REGISTERED NUMBER: 12639093 (England and Wales)









OUT OF THIS WORLD INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JULY 2022 TO 31 MARCH 2023






OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OUT OF THIS WORLD INVESTMENTS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023







DIRECTOR: R King





REGISTERED OFFICE: W2 Business Centre
Wellington House
Wellington Street
Cardiff
SOUTH GLAMORGAN
CF11 9BE





REGISTERED NUMBER: 12639093 (England and Wales)






OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 233,848 384,511
Investments 5 160,366 120,603
Investment property 6 461,419 461,419
855,633 966,533

CURRENT ASSETS
Debtors 7 319,851 344,789
Cash at bank 836 2,808
320,687 347,597
CREDITORS
Amounts falling due within one year 8 575,796 1,447,128
NET CURRENT LIABILITIES (255,109 ) (1,099,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

600,524

(132,998

)

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable fair value reserve 9 (4,204 ) (422,580 )
Retained earnings 9 604,628 289,482
600,524 (132,998 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

BALANCE SHEET - continued
31 MARCH 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 20 November 2023 and were signed by:





R King - Director


OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

1. STATUTORY INFORMATION

Out of this World Investments Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Investment properties - The fair value of investment properties involved the use of professional valuation techniques, which are reviewed annually by management. Where factors that could impact the fair value are identified, appropriate adjustments are made through the income statement.

Other investment assets commodities - Other investment assets are remeasured to their fair value at the period end. The fair value is based on trading market conditions of the various investment assets.

Other intangibles
Within Other Intangibles, is various Cryptocurrencies that are held for investment purposes to be sold at a later date. They have an indefinite life and are not being amortised.

OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment properties are held to generate rental income and capital appreciation. Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Investment properties are subsequently remeasured at fair value. An assessment of investment property fair value is performed annually. Any changes in fair value are recognised in the income statement.

Deferred tax is recognised on any fair value changes at the rate that would apply to the sale of the investment property, unless the property has a limited useful life and is held as part of a business model to consume all of the economic benefits associated with it.

Cash & cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 July 2022 384,511
Additions 225,154
Disposals (370,741 )
Impairments (5,076 )
At 31 March 2023 233,848
NET BOOK VALUE
At 31 March 2023 233,848
At 30 June 2022 384,511

OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Other
intangible
assets
£   
Valuation in 2022 872
Valuation in 2023 (5,076 )
Cost 238,052
233,848

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST
At 1 July 2022 - 120,603 120,603
Additions 50,000 - 50,000
Disposals - (10,237 ) (10,237 )
At 31 March 2023 50,000 110,366 160,366
NET BOOK VALUE
At 31 March 2023 50,000 110,366 160,366
At 30 June 2022 - 120,603 120,603

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 31 March 2023 461,419
NET BOOK VALUE
At 31 March 2023 461,419
At 30 June 2022 461,419

In the opinion of the director the fair value of investment properties are equal to the original cost at year end.

OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 319,851 344,789

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 917 34,881
Other creditors 574,879 1,412,247
575,796 1,447,128

9. RESERVES
Non-distributable
fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2022 289,482 (422,580 ) (133,098 )
Profit for the period 733,522 733,522
Transfer of reserves 5,076 (5,076 ) -
Realised Reserves (423,452 ) 423,452 -
At 31 March 2023 604,628 (4,204 ) 600,424

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2023 and the year ended 30 June 2022:

2023 2022
£    £   
R King
Balance outstanding at start of period 212,516 2,403
Amounts advanced 2,965 582,547
Amounts repaid (221,782 ) (372,434 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (6,301 ) 212,516

The balance is included in the creditors amounts falling due within one year. The balance is considered interest free and repayable on demand.

OUT OF THIS WORLD INVESTMENTS LTD (REGISTERED NUMBER: 12639093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

11. RELATED PARTY DISCLOSURES

During the period loans of £800,000 (2022: £nil) owed to RGifts Limited, a company under common control were written off as they were no longer considered to be recoverable. As at 31 March 2023 an amount of £564,238 (2022: £1,335,474) was owed by the company to RGifts Limited a company under common control. This balance is interest free and is repayable on demand.

During the period the company charged rent of £4,476 (2022 : £6,264) to a close family member of the director.

During the period the company charged rent of £4,500 (2022: £nil) to a company that is controlled by a close family member to the director.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R King.

13. CHANGE OF ACCOUNTING REFERENCE DATE

The company has shortened the accounting reference date from 30 June 2023 to 31 March 2023.