Hot Rocks Investments plc: Unaudited Interim Results to 30 September 2021 DGAP

Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: Unaudited Interim Results to 30 September 2021

31-March-2022 / 17:08 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

 

 

HOT ROCKS INVESTMENTS PLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

("Hot Rocks" or the "Company")

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDED 30TH SEPTEMBER 2021

 

 

 

 

 

 

 

 

 

CHAIRMAN'S STATEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I hereby present the interim results for the Company for the six months ended

 

 

30th September2021.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company is an active investor largely in junior natural resources companies.

 

 

 

 

 

 

 

 

 

 

The Company made a total comprehensive profit of GBP64,281 for the period. The Company

will not be paying a dividend.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash at bank at 30th September 2021 was GBP92,815.

 

 

 

 

 

 

 

 

 

 

 

 

 

We now hold stakes in the following entities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aqru plc

 

 

 

 

 

 

 

Copper Bay Limited

 

 

 

 

 

 

Elephant Oil Limited

 

 

 

 

 

 

Genflow Biosciences plc

 

 

 

 

 

Impact Oil & Gas Limited

 

 

 

 

 

Mafula Energy Limited

 

 

 

 

 

 

MedGold Resources Corp

 

 

 

 

 

Minergy Limited

 

 

 

 

 

 

New Horizon Oil & Gas Limited

 

 

 

 

 

NFT Investments plc

 

 

 

 

 

 

Nevada Lithium Resources Inc

 

 

 

 

 

Pilar Gold Inc

 

 

 

 

 

 

Rift Resources Limited

 

 

 

 

 

 

Royal Road Minerals Limited

 

 

 

 

 

Trigon Metals Inc

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brian Rowbotham

 

 

 

 

 

 

Non-Executive Chairman

 

 

 

 

 

31st March 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME

 

FOR THE PERIOD ENDED 30TH SEPTEMBER 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

Share based payment

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

(36,718)

 

 

 

 

 

 

 

 

 

 

 

 

Fair value gains on financial assets

100,999

 

 

 

 

 

 

 

 

      ______

 

 

Profit from operations and before taxation

64,281

 

 

 

 

 

 

 

 

 

 

 

 

Corporation tax

 

 

0

 

 

 

 

 

 

 

 

       ______

 

 

Profit for the period

 

 

64,281

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income for the period

64,281

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share (pence)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

(0.04)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

(0.04)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOT ROCKS INVESTMENTS PLC

 

 

 

 

 

         

CONDENSED STATEMENT OF FINANCIAL POSITION

 

 

 

 

         

AS AT 30TH SEPTEMBER 2021

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Assets

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Non-current assets

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Financial assets at fair value through profit and loss

204,415

 

 

 

         

 

 

 

 

 

    _______

 

 

         

 

 

 

 

 

204,415

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Current assets

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Financial assets at fair value through profit and loss

711,638

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Cash and cash equivalents

 

92,975

 

 

 

         

 

 

 

 

 

804,613

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Total assets

 

 

1,009,028

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Equity and liabilities

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Equity

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Called up share capital

 

 

173,602

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Share premium account

 

1,174,631

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Share based payment reserve

 

115,600

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Retained loss

 

 

(676,174)

 

 

 

         

 

 

 

 

 

_______               

 

 

 

         

 

 

 

 

 

787,659

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Current liabilities

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Trade and other payables

 

221,369

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Total equity and liabilities

 

1,009,028

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

HOT ROCKS INVESTMENTS PLC

 

 

 

 

 

         

CONDENSED CASH FLOW STATEMENT

 

 

 

 

         

FOR THE PERIOD ENDED 30TH SEPTEMBER 2021

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Cash flows from operating activities

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Operating profit

 

 

64,281

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Adjustments:

 

 

 

 

 

 

         

Fair value adjustment of financial assets through

 

 

 

 

         

profit and loss

 

 

(113,761)

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Loss on disposal of financial assets through profit

 

 

 

 

         

and loss

 

 

 

12,762

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Movements in working capital:

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Increase in trade and other payables

24,770

 

 

 

         

 

 

 

 

 

    _______

 

 

           

Net cash used in operating activities

(11,948)

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Cash flows from investing activities

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Proceeds from disposal of financial assets through

 

 

 

 

         

profit and loss

 

 

164,856

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Acquisition of financial assets through profit and loss

(180,610)

 

 

 

         

 

 

 

 

 

      ______

 

 

           

Net cash used in investing activities

(15,754)

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

    ______

 

 

 

         

Decrease in cash and cash equivalents

(27,702)

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Cash and cash equivalents at the beginning of the

 

 

 

 

         

period

 

 

 

120,677

 

 

 

         

 

 

 

 

 

       ______

 

 

           

Cash and cash equivalents at the end of the period

92,975

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

HOT ROCKS INVESTMENTS PLC

 

 

 

 

 

         

ACCOUNTING POLICIES

 

 

 

 

 

         

FOR THE PERIOD ENDED 30TH SEPTEMBER 2021

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

Financial information

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The financial information set out above does not constitute statutory

 

 

         

 

accounts within the meaning of Section 434 Companies Act 2006. It has

 

 

         

 

been prepared on a going concern basis in accordance with the recognition

 

 

         

 

and measurement criteria of the International Financial Reporting

 

 

 

         

 

Standards (IFRS) as adopted by the European Union.

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The accounting policies used in the preparation of this set of condensed

 

 

         

 

interim financial statements are consistent with those set out in the

 

 

         

 

Company's annual financial statements for the year ended 31 March 2021.

 

 

         

 

Statutory accounts for the year ended 31 March 2021 were approved by the

 

 

         

 

Board of Directors on 31 March 2022 and delivered to the Registrar

 

 

         

 

of Companies. The report of the independent auditor on those accounts

 

 

         

 

was unqualified.

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The financial information for the six months ended 30 September 2021

 

 

         

 

has not been reviewed. As permitted, the Company has chosen not to

 

 

         

 

adopt IAS 34 "Interim Financial Statements" in preparing this interim

 

 

         

 

financial information.

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

Risks and uncertainties

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The Board continually assesses and monitors the key risks of the business.

 

 

         

 

The key risks that could affect the Company's medium-term performance

 

 

         

 

and the factors that mitigate those risks have not substantially changed

 

 

         

 

from those discussed in the Financial Statements to 31 March 2021.

 

 

         

 

 

 

 

 

 

 

 

 

         

 

Critical accounting estimates

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The preparation of the condensed interim financial statements requires

 

 

         

 

management to make estimates and assumptions that affect the reported

 

 

         

 

amounts of assets and liabilities and disclosure of contingent assets and

 

 

         

 

liabilities at the end of the reporting period. Significant items subject to

 

 

         

 

estimates are set out in the accounting policies of the Company's Financial

 

 

         

 

Statements to 31 March 2021.

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

The Directors of the issuer are responsible for the content of this

 

 

 

         

 

announcement.

 

 

 

 

 

 

         

 

 

 

 

 

 

 

 

 

         

 

For further information please contact:

 

 

 

 

         

 

Hot Rocks Investments plc - Gavin Burnell: 020 7264 4444

 

 

 

 

 

 

 

 

 

 

 

 

 

 

         

 

Peterhouse Capital Limited - Guy Miller: 020 7220 9796

 

 

 

 

 

 
                                                 

 



ISIN: GB00B1WV3198
Category Code: MSCM
TIDM: HRIP
Sequence No.: 152899
EQS News ID: 1317347

 
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