DJ Hot Rocks Investments plc: UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2023
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
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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)
(15,061) (35,108) (62,462)
Other (loss) - sale of financial assets at fair value through profit &
loss account
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
6 Months to 6 Months Year
30.9.23 to 30.9.22 to
31.3.23
AS AT 30TH SEPTEMBER 2023
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 Year to
to 30.9.23 6 Months to 30.9.22
31.3.23
Cash flows from operating activities
Operating loss (41,367) (315,898) (367,810)
Adjustments:
158
Interest
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
30,108
(4,358)
Foreign exchange (gain) loss
Movements in working capital: (29,508) - 39,601
(Increase)decrease in trade and other receivables
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.
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ISIN: GB00B1WV3198 Category Code: IR TIDM: HRIP LEI Code: 213800JNSRPMZVREEO51 Sequence No.: 294468 EQS News ID: 1805153 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
December 28, 2023 07:30 ET (12:30 GMT)
