DJ Hot Rocks Investments plc: Interim Results
Hot Rocks Investments plc (HRIP)
Hot Rocks Investments plc: Interim Results
31-Dec-2024 / 10:54 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 2024
MANAGING DIRECTOR'S STATEMENT
I hereby present the interim results for the Company for the six months ended 30th September 2024.
The Company is an active investor in small companies that have the potential for significant growth.
The Company made a total comprehensive profit of GBP176,162 for the period. The Company will not
be paying a dividend.
Cash at bank at 30th September 2024 was GBP 341,960.
We hold equity and / or loan and / or warrant positions in the following entities:
D3 Energy
Elephant Oil Corp
Mafula Energy Limited
Electrum Discovery Corp
Minergy Limited
Mosi Copper Limited
New Horizon Oil & Gas Limited
Orcadian Energy Plc
Oscillate Plc
Phoenix Digital Assets plc
Pilar Gold Inc
Rift Resources Limited
Royal Road Minerals Limited
Supernova Digital Assets plc
Trigon Metals Inc
Tucano Gold Inc
Unicorn Mineral Resources plc
WeShop Holdings Limited
Gavin Burnell
Managing Director
31 December 2024
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2024
6 Months 6 Months Year to
to to 31.3.24
30.9.24 30.9.23
Continuing operations
Revenue 0 0 0
Operating expenses (42,908) (30,882) (67,719)
Foreign exchange gain(loss) on available -for-sale financial assets 4,358 775
0
173,513 (15,061) 0
Other gain(loss) - sale of financial assets at fair value through profit & loss account
Fair value gains(losses) on financial assets (218) 113,928
45,917
______
_______
______
Profit(loss) from operations before taxation 176,612 (41,367) 46,984
Corporation tax 0 0 0
________ ______
_____
Profit(loss) for period 176,162 (41,367) 46,984
Total comprehensive income(expenditure) for the period 176,162 (41,367) 46,984
Profit(loss) per share (pence)
Basic 0.10 (0.02) (0.03)
Diluted 0.10 (0.02) (0.02)
HOT ROCKS INVESTMENTS PLC
CONDENSED STATEMENT OF FINANCIAL POSITION
6 Months to 6 Months Year
30.9.24 to 30.9.23
to 31.3.24
AS AT 30TH SEPTEMBER 2024
Assets
Non-current assets
Financial assets at fair value through profit and loss 385,171 408,583
393,981
_______ ______
______
393,981 385,171 408,583
Current assets
Financial assets at fair value through profit and loss 272,536 293,333 416,240
Trade and other receivables 517 30,115 117
Cash and cash equivalents 341,960 18,415 5,386
615,013 341,863 421,743
Total assets 1,008,994 727,034 830,326
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 (1,030,82 (942,476)
(766,312)
_______ ______ ______
697,521 433,006 521,357
Current liabilities
Trade and other payables 311,473 294,028 308,969
Total equity and liabilities 1,008,994 727,034 830,326
HOT ROCKS INVESTMENTS PLC
CONDENSED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2024
6 Months 6 Months to Year to
to 30.9.24 30.9.23
31.3.24
Cash flows from operating activities
Operating profit(loss) 176,162 (41,367) 46,801
Adjustments:
183
Interest
Fair value adjustment of financial assets through
profit and loss (45,917) (218) (113,928)
(Profit)loss on disposal of financial assets through profit
and loss (173,153) 15,061 (775)
Foreign exchange (gain) loss - (4,358) -
Movements in working capital:
(399) 489
(29,508)
(Increase)decrease in trade and other receivables
Increase in trade and other payables 16,302 31,244
2,505
_______ _____
_____
Net cash used in operating activities (40,802) (44,088) (35,986)
Cash flows from investing
activities
Proceeds from disposal of financial assets through
profit and loss 377,376 125,650 191,486
Acquisition of financial assets through profit and loss 0 (85,075) (172,042)
______
_____ _______
Net cash used in investing activities 377,376 40,575 19,444
______ ______ ______
Decrease in cash and cash equivalents 336,574 (3,513) (16,542)
Cash and cash equivalents at the beginning of the
period 5,386 18,415 21,928
______ ______
____
Cash and cash equivalents at the end of the period 341,960 21,928 5,386
HOT ROCKS INVESTMENTS PLC
ACCOUNTING POLICIES
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2024
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 2024.
Statutory accounts for the year ended 31 March 2024 were approved by the
Board of Directors on 30 September 2024 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 2024
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 2024.
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 2024.
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 - Vishal Balasingham: 020 3981 4174
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), 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.: 368007 EQS News ID: 2059879 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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December 31, 2024 05:54 ET (10:54 GMT)
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