Hot Rocks Investments plc: Interim Results

Hot Rocks Investments plc (HRIP) Hot Rocks Investments plc: Interim Results 31-Dec-2024 / 10:54 GMT/BST 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 30.9.24 to 30.9.23 31.3.24       Continuing operations             Revenue 0 0             0             Operating expenses (42,908) (30,882)  (67,719)       Foreign exchange gain(loss) on available -for-sale financial assets                                                         0 4,358         775       Other gain(loss) – sale of financial assets at fair value through profit & loss account 173,513 (15,061)              0             Fair value gains(losses) on financial assets                                                45,917 (218)       113,928         _______             ______ ______       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                 AS AT 30TH SEPTEMBER 2024 6 Months to 30.9.24                     6 Months   to 30.9.23 Year                      to 31.3.24                                 Assets                                 Non-current assets                                 Financial assets at fair value through profit and loss       393,981   385,171 408,583                     _______           ______  ______                 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    (766,312) (1,030,82 (942,476)                 _______                   ______ ______                 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 to 30.9.24                      6 Months to 30.9.23 Year to 31.3.24                 Cash flows from operating activities                                 Operating profit(loss) 176,162 (41,367)  46,801                                 Adjustments: Interest                                   183                       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: (Increase)decrease in trade and other receivables                            (399)                        (29,508)    489                                 Increase in trade and other payables           2,505 16,302 31,244                     _______        _____   _____                   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.

ISIN:	GB00B1WV3198
Category Code:	IR
TIDM:	HRIP
LEI Code:	213800JNSRPMZVREEO51
Sequence No.:	368007
EQS News ID:	2059879

End of Announcement	EQS News Service