DJ Hot Rocks Investments plc: Unaudited Interim Results to 30 September 2021
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.
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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
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ISIN: GB00B1WV3198 Category Code: MSCM TIDM: HRIP Sequence No.: 152899 EQS News ID: 1317347 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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March 31, 2022 12:08 ET (16:08 GMT)
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