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Hot Rocks Investments plc: UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023


Announcement provided by

Hot Rocks Investments plc · HRIP

28/12/2023 12:30

Hot Rocks Investments plc: UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023 DGAP

Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023

28-Dec-2023 / 12:30 GMT/BST


HOT ROCKS INVESTMENTS PLC 

("Hot Rocks" or the "Company")

 

UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023

 

CHAIRMAN'S STATEMENT

 

I hereby present the interim results for the Company for the six months ended 30th September 2023.

 

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

 

The Company made a total comprehensive loss of GBP41,367 for the period. The Company will not

be paying a dividend.

 

Cash at bank at 30th September 2023 was GBP 18,415.

 

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

Unicorn Mineral Resources plc

 

Brian Rowbotham

Non-Executive Chairman

28 December 2023  

 

 

 

 

 

 

 

 

 

 

 

 HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023

 

 

 

 

 

 

 

6 Months

6 Months

Year to

 

 

 

 

 

to 30.9.23

to 30.9.22

31.3.23

Continuing operations

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

0

0

            0

 

 

 

 

 

 

 

 

Operating expenses

 

 

(30,882)

(38,995)

 (78,178)

Foreign exchange gain(loss) on available -for-sale financial assets

 4,358

 

 (30,108)

 

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

 

 

(15,061)

(35,108)

(62,462)

 

 

 

 

 

 

Fair value gains(losses) on financial assets

          218

(241,795)  

(197,063)

 

 

 

 

 

                         

  _______             ______

______

Loss from operations before taxation

      (41,367)

(315,898)

(367,811)

 

 

 

 

 

 

 

 

 

Corporation tax

 

 

0

0

           0

 

 

 

 

 

 ________           _____

______

Loss for period

 

 

(41,367)

(315,898)

(367,811)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive expenditure for the period

(41,367)

(315,898)

(367,811)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share (pence)

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

(0.02)

(0.18)

     (0.21)

 

 

 

 

 

 

 

 

Diluted

 

 

 

(0.02)

(0.18)

     (0.21)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                   

 

HOT ROCKS INVESTMENTS PLC

 

 

 

 

CONDENSED STATEMENT OF FINANCIAL POSITION

 

 

 

                                                                              

 

AS AT 30TH SEPTEMBER 2023

 

6 Months to 30.9.23

6 Months 
to 30.9.22

Year 
to 31.3.23

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets at fair value through profit and loss

      385,171

389,826

385,171

 

 

 

 

 

    _______            ______

 ______

 

 

 

 

 

385,171

389,826

385,171

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets at fair value through profit and loss

293,333

331,098

344,393

 

 

 

 

 

 

 

 

Trade and other receivables

 

30,115

55,419

       606

Cash and cash equivalents

 

18,415

10,583

  21,928

 

 

 

 

 

341,863

397,100

366,927

 

 

 

 

 

 

 

 

Total assets

 

 

727,034

786,926

752,098

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

(1,030,827)

(937,548)

(989,460)

 

 

 

 

 

                

   ______

______

 

 

 

 

 

433,006

526,285

474,373

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade and other payables

 

294,028

260,641

277,725

 

 

 

 

 

 

 

 

Total equity and liabilities

 

727,034

786,926

752,098

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                 

 

HOT ROCKS INVESTMENTS PLC

 

 

 

 

CONDENSED CASH FLOW STATEMENT

 

 

 

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023

 

 

 

 

 

 

 

 

  6 Months
to 30.9.23
 

6 Months to 30.9.22

Year to

31.3.23

Cash flows from operating activities

 

 

 

 

 

 

 

 

 

 

 

Operating loss

 

 

(41,367)

(315,898)

(367,810)

 

 

 

 

 

 

 

 

Adjustments:

 

Interest                            

 

 

 

 

      158 

Fair value adjustment of financial assets through

 

 

 

profit and loss

 

 

(218)

241,795

197,063

 

 

 

 

 

 

 

 

Loss on disposal of financial assets through profit

 

 

 

and loss

 

 

 

15,061

35,108

  62,462

 

 

 

 

 

                       

           (4,358) 

 

  30,108

Foreign exchange (gain) loss 

 

Movements in working capital:

 

(Increase)decrease in trade and other receivables

 

       (29,508) 

            -

39,601

 

 

 

 

 

 

 

 

Increase in trade and other payables

16,302

15,040

32,065

 

 

 

 

 

    _______        _____

  _____

Net cash used in operating activities

(44,088)

(23,955)

(6,353)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities        

 

 

 

 

 

 

 

 

 

 

 

Proceeds from disposal of financial assets through

 

 

 

profit and loss

 

 

125,650

13,643

62,300

 

 

 

 

 

 

 

 

Acquisition of financial assets through profit and loss

(85,075)

0

(70,025)

 

 

 

 

 

      ______          _____ 

_______

Net cash used in investing activities

40,575

13,643

(7,725)

 

 

 

 

 

 

 

 

 

 

 

 

 

    ______

   ______  

______

Decrease in cash and cash equivalents

(3,513)

(10,312)

(14,078)

 

 

 

 

 

 

 

 

Cash and cash equivalents at the beginning of the

 

 

 

period

 

 

 

21,928

76,314

36,006

 

 

 

 

 

       ______         ____

______

Cash and cash equivalents at the end of the period

18,415

66,002

21,928

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOT ROCKS INVESTMENTS PLC

ACCOUNTING POLICIES

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023

 

 

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 2023. Statutory accounts for the year ended 31 March 2023 were approved by the Board of Directors on 29 September 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 2023 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 2023.

 

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 2023.

 

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 4546

 

Optiva Securities Ltd – Daniel Ingram: 020 3981 4178

 

 



Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


ISIN: GB00B1WV3198
Category Code: IR
TIDM: HRIP
LEI Code: 213800JNSRPMZVREEO51
Sequence No.: 294468
EQS News ID: 1805153

 
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