RNS Number : 2115S

Hot Rocks Investments PLC

07 March 2023

							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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