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Hot Rocks Investmnts - Interim Results to 30 September 2022 - Replacement


Announcement provided by

Hot Rocks Investments plc · HRIP

08/03/2023 10:23

Hot Rocks Investmnts - Interim Results to 30 September 2022 - Replacement
RNS Number : 3071S
Hot Rocks Investments PLC
08 March 2023
 

The announcement released on 07/03/23 at 18:29 under RNS No 2115S has been re-released to facilitate onward transmission by third party vendors.

 

The announcement is unchanged and is reproduced in full below.






HOT ROCKS INVESTMENTS PLC

 




 










 




("Hot Rocks" or the "Company")

 



 










 

UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

 

 









 

CHAIRMAN'S STATEMENT

 





 










 

I hereby present the interim results for the Company for the six months ended 30th September 2022.



 










 

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


 










 

The Company made a total comprehensive loss of GBP315,898 for the period. The Company will not

be paying a dividend.

 

Cash at bank at 30th September 2022 was GBP10,583, and at 3rd March 2023 was GBP70,437.

 

 

 

We now hold stakes in the following entities:





 










 










 

Aqru plc

 








 

D3 Energy







 

Elephant Oil Corp







 

Impact Oil & Gas Limited






 

Mafula Energy Limited







 

MedGold Resources Corp






 

Minergy Limited







 

Mosi Copper Limited

New Horizon Oil & Gas Limited






 

NFT Investments plc







 

Pilar Gold Inc







 

Rift Resources Limited

Roquefort Therapeutics Limited







 

Royal Road Minerals Limited






 

Trigon Metals Inc







 










 

Brian Rowbotham

 






 

Non-Executive Chairman






 

4th March 2023  







 










 










 










 

 

 

HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME

 

 

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

 




 






6 Months

6 Months

Year to


 






to 30.9.22

to 30.9.21

31.3.22


 

Continuing operations

 





 










 

Revenue




0

0

            0


 










 

Operating expenses



(38,995)

(36,718)

 (65,878)


 








 

Other (loss) - sale of financial assets at fair value through profit & loss account



(35,108)

(12,762)

(17,831)


 










 

Fair value (losses)gains on financial assets

(241,795)

113,761     

202,614


 






                          

  _______             ______

______


 

(Loss)profit from operations before taxation

(315,898)

64,281

118,905


 










 

Corporation tax



0

0

           0


 






 ----________-    ----       _____

______


 

(Loss)profit for period



(315,898)

64,281

118,905


 










 










 

Total comprehensive (expenditure)income for the period

(315,898)

64,281

118,905


 










 










 

(Loss)earnings per share (pence)

 





 










 

Basic




(0.18)

0.04

     0.11


 










 

Diluted




(0.18)

0.04

     0.11


 










 










 










 










 










 










 










 










 










 










 










 










 










 










 










 










 










 

HOT ROCKS INVESTMENTS PLC

 





 

CONDENSED STATEMENT OF FINANCIAL POSITION

 




 

                                                                              

 

AS AT 30TH SEPTEMBER 2022

 

6 Months to 30.9.22                    

6 Months   to 30.9.21

Year                      to 31.3.22


 










 

Assets

 







 










 

Non-current assets

 






 










 

Financial assets at fair value through profit and loss

   389,826

204,415

389,529


 






    _______           ______

 ______


 






389,826

204,415

389,529


 










 

Current assets

 






 










 

Financial assets at fair value through profit and loss

331,098

711,638

621,941


 










 

Trade and other receivables


55,419

160

  40,306


 

Cash and cash equivalents


10,583

92,815

  36,008


 






397,100

804,613

698,255


 










 

Total assets



786,926

1,009,028

1,087,784


 










 










 

Equity and liabilities

 






 










 

Equity

 







 










 

Called up share capital



173,602

173,602

173,602


 










 

Share premium account


1,174,631

1,174,631

1,174,631


 










 

Share based payment reserve


115,600

115,600

115,600


 










 

Retained loss



(937,548)

(676,174)

(621,650)


 






_______                

   ______

----------------______


 






526,285

787,659

842,183


 










 

Current liabilities

 






 










 

Trade and other payables


260,641

221,369

245,601


 










 

Total equity and liabilities

 

786,926

1,009,028

1,087,784


 










 










 


 

 

 








 

HOT ROCKS INVESTMENTS PLC

 





 

CONDENSED CASH FLOW STATEMENT

 




 

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

 




 






  6 Months to 30.9.22                      

6 Months to 30.9.21

Year to

31.3.22


 

Cash flows from operating activities

 




 










 

Operating(loss)profit

 


(315,898)

64,281

118,905


 










 

Adjustments:







 

Fair value adjustment of financial assets through





 

profit and loss



241,795

(113,761)

(202,614)


 










 

Loss on disposal of financial assets through profit





 

and loss




35,108

12,762

17,831


 










 

Movements in working capital:

 

Increase in trade and other receivables


               -

               -

(14,714)


 










 

Increase in trade and other payables

15,040

24,770

34,436


 






    _______        _____

  _____


 

Net cash used in operating activities

(23,955)

(11,948)

(46,156)


 










 










 

Cash flows from investing activities

 




 










 

Proceeds from disposal of financial assets through





 

profit and loss



13,643

164,856

180,979


 










 

Acquisition of financial assets through profit and loss

0

(180,610)

(208,361)


 






      ______          _____     

_______


 

Net cash used in investing activities

13,643

(15,754)

(27,382)


 










 






    ______

   ______   

______


 

Decrease in cash and cash equivalents

(10,312)

(27,702)

(73,538)


 










 

Cash and cash equivalents at the beginning of the





 

period




76,314

120,677

109,546


 






       ______         ____

______


 

Cash and cash equivalents at the end of the period

66,002

92,975

36,008


 










 










 










 










 










 










 

HOT ROCKS INVESTMENTS PLC

 





 

ACCOUNTING POLICIES

 





 

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

 




 










 

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 2022.



 


Statutory accounts for the year ended 31 March 2022 were approved by the



 


Board of Directors on 4 March 2023 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 2022



 


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 2022.



 










 


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 2022.






 










 


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















 


Optiva Securities Ltd - Daniel Ingram Tel: 0203 411 1881

daniel.ingram@optivasecurities.com

 






 

 

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