Hot Rocks Investments plc: Interim Results

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