TIDMHRIP
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 MONTHSED 30TH
SEPTEMBER 2022
CHAIRMAN'S STATEMENT
I hereby present the interim results for the Company for the six
months ended 30(th) 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 30(th) September 2022 was GBP10,583, and at 3(rd) 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 MONTHSED 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 6 Months 6 Months
2022 to 30.9.22 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 MONTHSED 30TH SEPTEMBER
2022
6 Months 6 Months Year to
to 30.9.22 to 30.9.21 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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END
NEXJPMMTMTBMBBJ
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