Hot Rocks Investments plc: Final Audited Results to 31 March 2021

Hot Rocks Investments plc (HRIP) Hot Rocks Investments plc: Final Audited Results to 31 March 2021 31-March-2022 / 17:02 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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HOT ROCKS INVESTMENTS PLC

(the "Company")

AUDITED FINANCIAL STATEMENTS TO

31 MARCH 2021

CHANGE OF AUDITOR

Chairman's Statement 
 

Dear Shareholders,

I hereby present the financial results for the Company for the year ended 31 March 2021. The Company is an active investor primarily in junior natural resources companies.

The Company made a loss for the year of GBP38,734, compared to a profit of GBP75,050 in the prior year. The Company will not be paying a dividend at this stage (2020: GBPNil).

Cash and cash equivalents as at the year end of 31 March 2021 were GBP109,546 (2020: GBP19,868).

Despite the issues associated with Covid-19, we have continued to build and nurture our investment portfolio and we are generally pleased with performance.

We have participated in a number of early-stage investments and are working on a number of new projects to add value. Due to Covid-19 there have been delays in a number of flotations where we are pre-ipo investors but we hope that a number of these are now nearing fruition. We are particularly excited about the potential listing of Elephant Oil and an Africa-focused copper exploration company where we are a founder shareholder and which we plan to float on a stock exchange in 2022.

We hold cash at bank today of GBP47,000.

We now hold stakes in the following entities:

-- Aqru plc (AQUIS: AQRU)

-- Elephant Oil Limited

-- Genflow Biosciences plc (AIM:GENF)

-- Impact Oil & Gas Limited

-- Mafula Energy Limited

-- MedGold Resources Corp (TSXV:MED)

-- Minergy Limited (Botswana SX)

-- New Horizon Oil & Gas Limited (trading as T5)

-- Nevada Lithium Resources Inc. (CSE:NVLH)

-- NFT Investments plc (AQUIS:NFT)

-- Pilar Gold Inc

-- Rift Resources Limited

-- Royal Road Minerals Limited (TSXV:RYR)

-- Trigon Metals Inc (TSXV:TM)

The Board of Directors will continue to introduce further equity positions to the Company to enable additional diversification of the portfolio. It is anticipated that these will continue to be primarily within the natural resources sector.

Brian Rowbotham

Non-Executive Chairman

31 March 2022

Financial Review and Change of Auditor

The loss for this year before taxation was GBP38,734 (2020: profit of GBP75,050).

Cash in the bank at the end of March 2021 was GBP109,546 (2020: GBP19,868).

The Company also announces that it has appointed Pointon Young Chartered Accountants as the Company's auditor for the financial year ended 31 March 2021.

As required by section 519 of the Companies Act 2006, PKF Littlejohn LLP, confirms that there are no matters in connection with this change that should be brought to the attention of the Company's shareholders or creditors.

The directors of the issuer accept responsibility for the content of this announcement.

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: [phone]

Corporate Adviser:

Peterhouse Capital Limited

Guy Miller Tel: [phone]

 
STATEMENT OF COMPREHENSIVE INCOME 
FOR THE YEAR ENDED  31 MARCH 2021 
                                                                                        2021                                            2020 
                                                                                        GBP                                               GBP 
Continuing Operations 
 
Revenue                                                                                 -                                               - 
 
Operating expenses                                                                      (65,290)                                        (71,886) 
 
                                                                                        228,857 
Other gains - sale of financial assets at fair value through                                                                            70,555 Movement in fair value of financial assets through profit                                                                               76,374 

OPERATING (LOSS)/PROFIT (38,735) 75,043

Finance income 1 7

(LOSS)/PROFIT BEFORE INCOME TAX (38,734) 75,050

Income tax expense - -

 
 
                                                                                        (38,734)       75,050 
(LOSS)/PROFIT FOR THE YEAR                                                                                                           75,050 

?????????? ??????????

Other Comprehensive Income

Items that may be reclassified subsequently to profit or loss - -

Fair value change in value on available-for-sale financial assets - -

 
Total Comprehensive (loss)/income for the year                                       (38,734)      75,050                            75,050        75,050 
                                                                                                                75,050                                       75,050 

?????????? ?????????? ?????????? ??????????

 
STATEMENT OF CHANGES IN EQUITY 
FOR THE YEAR ENDED  31 MARCH 2021 
 
                        Issued capital    Share premium       Other reserves    Retained earnings    Total equity 
                        GBP                 GBP                   GBP                 GBP                    GBP 
Balance at 1 April 2020 173,602           1,174,631           115,600           (701,821)            762,012 
Loss for the year       -                 -                   -                 (38,734)             (38,734) 
 
                                  173,602        1,174,631              115,600         (740,555)              723,278 
 
                        ??????????        ?????????????       ??????????        ??????????           ?????????? 
 
                        Issued capital       Share premium     Other reserves    Retained earnings  Total equity 
                        GBP                    GBP                 GBP                 GBP                  GBP 
Balance at 1 April 2019 173,602              1,174,631         115,600           (776,871)          686,962 
Profit for the year     -                    -                 -                 75,050             75,050 
 
                                 173,602            1,174,631            115,600         (701,821)            762,012 
 
                        ??????????           ?????????????     ??????????        ??????????         ?????????? 
 
 
 
 
 
 
 
STATEMENT OF FINANCIAL POSITION 
AS AT  31 MARCH 2021 
                                                                                     2021          2020 
                                                                                     GBP             GBP 
ASSETS 
 
              NON CURRENT ASSETS 
 
                Financial assets designated as fair value through profit or loss     239,719       188,672 
 
              CURRENT ASSETS 
 
                Financial assets designated as fair value through profit or loss     559,583       724,442 
                Trade and other receivables                                          25,595        - 
                Cash and cash equivalents                                            109,546       19,868 
 
                                                                                     694,724       744,310 
 
              TOTAL ASSETS                                                           934,443       932,982 
                                                                                     ??????????    ?????????? 
 
EQUITY 
 
              ISSUED CAPITAL AND RESERVES 
 
                Issued share capital                                                 173,602       173,602 
                Share premium                                                        1,174,631     1,174,631 
                Reserves                                                             115,600       115,600 
                Retained loss                                                        (740,555)     (701,821) 
 
                TOTAL EQUITY                                                         723,278       762,012 
 
CURRENT LIABILITIES 
 
              Trade and other payables                                               211,165       170,970 
 
 
TOTAL EQUITY AND LIABILITIES                                                         934,443       932,982 
                                                                                     ??????????    ?????????? 
 

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