REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 5

Westmount EnergyAnnouncement

20/11/2015 07:01

- Part 5: For the preceding part double click  ID:nRST3729Gd 

                                                                                           
 have short                                                                                                                                                                                                                                                                   
 term (<3                                                                                                                                                                                                                                                                     
 months) cash                                                                                                                                                                                                                                                                  
 deposits,                                                                                                                                                                                                                                                                    
 which                                                                                                                                                                                                                                                                        
 exposes the                                                                                                                                                                                                                                                                  
 Company to                                                                                                                                                                                                                                                                   
 effects of                                                                                                                                                                                                                                                                   
 fluctuations                                                                                                                                                                                                                                                                  
 in the                                                                                                                                                                                                                                                                       
 prevailing                                                                                                                                                                                                                                                                   
 levels of                                                                                                                                                                                                                                                                    
 market                                                                                                                                                                                                                                                                       
 interest                                                                                                                                                                                                                                                                     
 rates on its                                                                                                                                                                                                                                                                  
 cash flow.                                                                                                                                                                                                                                                                    
 An increase                                                                                                                                                                                                                                                                  
 in the                                                                                                                                                                                                                                                                       
 interest                                                                                                                                                                                                                                                                     
 rates of 1%                                                                                                                                                                                                                                                                  
 would cause                                                                                                                                                                                                                                                                  
 the                                                                                                                                                                                                                                                                          
 Company's                                                                                                                                                                                                                                                                    
 net                                                                                                                                                                                                                                                                          
 financial                                                                                                                                                                                                                                                                    
 assets to                                                                                                                                                                                                                                                                    
 increase by                                                                                                                                                                                                                                                                  
 £73 (2014:                                                                                                                                                                                                                                                                   
 £769). An                                                                                                                                                                                                                                                                    
 equal change                                                                                                                                                                                                                                                                  
 in the                                                                                                                                                                                                                                                                       
 opposite                                                                                                                                                                                                                                                                     
 direction                                                                                                                                                                                                                                                                    
 would have                                                                                                                                                                                                                                                                   
 decreased                                                                                                                                                                                                                                                                    
 the net                                                                                                                                                                                                                                                                      
 assets                                                                                                                                                                                                                                                                       
 attributable                                                                                                                                                                                                                                                                  
 to                                                                                                                                                                                                                                                                           
 shareholders                                                                                                                                                                                                                                                                  
 by an equal                                                                                                                                                                                                                                                                  
 but opposite                                                                                                                                                                                                                                                                  
 amount. 1%                                                                                                                                                                                                                                                                   
 represents                                                                                                                                                                                                                                                                   
 the                                                                                                                                                                                                                                                                          
 management's                                                                                                                                                                                                                                                                  
 assessment                                                                                                                                                                                                                                                                   
 of a                                                                                                                                                                                                                                                                         
 reasonably                                                                                                                                                                                                                                                                   
 possible                                                                                                                                                                                                                                                                     
 change in                                                                                                                                                                                                                                                                    
 interest                                                                                                                                                                                                                                                                     
 rates. The                                                                                                                                                                                                                                                                   
 following                                                                                                                                                                                                                                                                    
 table                                                                                                                                                                                                                                                                        
 summarises                                                                                                                                                                                                                                                                   
 the                                                                                                                                                                                                                                                                          
 Company's                                                                                                                                                                                                                                                                    
 exposure to                                                                                                                                                                                                                                                                  
 interest                                                                                                                                                                                                                                                                     
 rate risks:                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                              
 Interest                                                                                                                                                                                                                                                                     
 rate risk                                                                                                                                                                                                                                                                    
 profile As                                                                                                                                                                                                                                                                   
 at 30 June                                                                                                                                                                                                                                                                   
 2015 Up to 1                                                                                                                                                                                                                                                                  
 year Over 1                                                                                                                                                                                                                                                                  
 year Non                                                                                                                                                                                                                                                                     
 -interest                                                                                                                                                                                                                                                                    
 bearing                                                                                                                                                                                                                                                                      
 Total £                                                                                                                                                                                                                                                                      
 Assets Other                                                                                                                                                                                                                                                                  
 receivables                                                                                                                                                                                                                                                                   
 - - 9,721                                                                                                                                                                                                                                                                    
 9,721 Cash                                                                                                                                                                                                                                                                   
 and cash                                                                                                                                                                                                                                                                     
 equivalents                                                                                                                                                                                                                                                                  
 7,291 - -                                                                                                                                                                                                                                                                    
 7,291 7,291                                                                                                                                                                                                                                                                   
 - 9,721                                                                                                                                                                                                                                                                      
 17,012                                                                                                                                                                                                                                                                       
 Liabilities                                                                                                                                                                                                                                                                  
 Trade and                                                                                                                                                                                                                                                                    
 other                                                                                                                                                                                                                                                                        
 payables - -                                                                                                                                                                                                                                                                  
 31,760                                                                                                                                                                                                                                                                       
 31,760 As at                                                                                                                                                                                                                                                                  
 30 June 2014                                                                                                                                                                                                                                                                  
 Up to 1 year                                                                                                                                                                                                                                                                  
 Over 1 year                                                                                                                                                                                                                                                                  
 Non-interest                                                                                                                                                                                                                                                                  
 Bearing                                                                                                                                                                                                                                                                      
 Total £                                                                                                                                                                                                                                                                      
 Assets Trade                                                                                                                                                                                                                                                                  
 and other                                                                                                                                                                                                                                                                    
 receivables                                                                                                                                                                                                                                                                   
 - - 7,607                                                                                                                                                                                                                                                                    
 7,607 Cash                                                                                                                                                                                                                                                                   
 and cash                                                                                                                                                                                                                                                                     
 equivalents                                                                                                                                                                                                                                                                  
 76,866 - -                                                                                                                                                                                                                                                                   
 76,866                                                                                                                                                                                                                                                                       
 76,866 -                                                                                                                                                                                                                                                                     
 7,607 84,473                                                                                                                                                                                                                                                                  
 Liabilities                                                                                                                                                                                                                                                                  
 Trade and                                                                                                                                                                                                                                                                    
 other                                                                                                                                                                                                                                                                        
 payables - -                                                                                                                                                                                                                                                                  
 57,831                                                                                                                                                                                                                                                                       
 57,831                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                              
 b)   Credit                                                                                                                                                                                                                                                                  
 Risk                                                                                                                                                                                                                                                                         
 Credit risk                                                                                                                                                                                                                                                                  
 is the risk                                                                                                                                                                                                                                                                  
 that an                                                                                                                                                                                                                                                                      
 issuer or                                                                                                                                                                                                                                                                    
 counterparty                                                                                                                                                                                                                                                                  
 will be                                                                                                                                                                                                                                                                      
 unable or                                                                                                                                                                                                                                                                    
 unwilling to                                                                                                                                                                                                                                                                  
 meet                                                                                                                                                                                                                                                                         
 commitments                                                                                                                                                                                                                                                                  
 it has                                                                                                                                                                                                                                                                       
 entered into                                                                                                                                                                                                                                                                  
 with the                                                                                                                                                                                                                                                                     
 Company. The                                                                                                                                                                                                                                                                  
 carrying                                                                                                                                                                                                                                                                     
 amounts of                                                                                                                                                                                                                                                                   
 the                                                                                                                                                                                                                                                                          
 financial                                                                                                                                                                                                                                                                    
 assets best                                                                                                                                                                                                                                                                  
 represent                                                                                                                                                                                                                                                                    
 the maximum                                                                                                                                                                                                                                                                  
 credit                                                                                                                                                                                                                                                                       
 exposure at                                                                                                                                                                                                                                                                  
 the end of                                                                                                                                                                                                                                                                   
 the                                                                                                                                                                                                                                                                          
 reporting                                                                                                                                                                                                                                                                    
 period. This                                                                                                                                                                                                                                                                  
 also relates                                                                                                                                                                                                                                                                  
 to the                                                                                                                                                                                                                                                                       
 financial                                                                                                                                                                                                                                                                    
 assets                                                                                                                                                                                                                                                                       
 carried at                                                                                                                                                                                                                                                                   
 cost, as                                                                                                                                                                                                                                                                     
 they have a                                                                                                                                                                                                                                                                  
 short term                                                                                                                                                                                                                                                                   
 to maturity.                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                              
 The                                                                                                                                                                                                                                                                          
 Directors do                                                                                                                                                                                                                                                                  
 not believe                                                                                                                                                                                                                                                                  
 the Company                                                                                                                                                                                                                                                                  
 is subject                                                                                                                                                                                                                                                                   
 to any                                                                                                                                                                                                                                                                       
 significant                                                                                                                                                                                                                                                                  
 credit risk                                                                                                                                                                                                                                                                  
 exposure                                                                                                                                                                                                                                                                     
 regarding                                                                                                                                                                                                                                                                    
 trade                                                                                                                                                                                                                                                                        
 receivables.                                                                                                                                                                                                                                                                  
 At the                                                                                                                                                                                                                                                                       
 period end                                                                                                                                                                                                                                                                   
 date the                                                                                                                                                                                                                                                                     
 Company was                                                                                                                                                                                                                                                                  
 exposed to                                                                                                                                                                                                                                                                   
 credit risk                                                                                                                                                                                                                                                                  
 on the                                                                                                                                                                                                                                                                       
 investments                                                                                                                                                                                                                                                                  
 of which the                                                                                                                                                                                                                                                                  
 shareholders                                                                                                                                                                                                                                                                  
 are aware.                                                                                                                                                                                                                                                                   
 The                                                                                                                                                                                                                                                                          
 Directors                                                                                                                                                                                                                                                                    
 regularly                                                                                                                                                                                                                                                                    
 review the                                                                                                                                                                                                                                                                   
 investments                                                                                                                                                                                                                                                                  
 held by the                                                                                                                                                                                                                                                                  
 Company.                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                              
 At the end                                                                                                                                                                                                                                                                   
 of the                                                                                                                                                                                                                                                                       
 reporting                                                                                                                                                                                                                                                                    
 period, the                                                                                                                                                                                                                                                                  
 Company's                                                                                                                                                                                                                                                                    
 financial                                                                                                                                                                                                                                                                    
 assets                                                                                                                                                                                                                                                                       
 exposed to                                                                                                                                                                                                                                                                   
 credit risk                                                                                                                                                                                                                                                                  
 amounted to                                                                                                                                                                                                                                                                  
 the                                                                                                                                                                                                                                                                          
 following:                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                           2015 £                            2014£                          
 Investments                                                                                                                                                                                                                                                                                                               536,821                           682,888                        
 at Fair                                                                                                                                                                                                                                                                                                                                                                                    
 Value                                                                                                                                                                                                                                                                                                                                                                                      
 Through                                                                                                                                                                                                                                                                                                                                                                                    
 Profit or                                                                                                                                                                                                                                                                                                                                                                                  
 Loss                                                                                                                                                                                                                                                                                                                                                                                       
 Other                                                                                                                                                                                                                                                                                                                     9,721                             7,607                          
 receivables                                                                                                                                                                                                                                                                                                                                                                                
 Cash and                                                                                                                                                                                                                                                                                                                  7,291                             76,866                         
 cash                                                                                                                                                                                                                                                                                                                                                                                       
 equivalents                                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                           553,833                           767,361                        
 The Company                                                                                                                                                                                                                                                                  
 considers                                                                                                                                                                                                                                                                    
 that all the                                                                                                                                                                                                                                                                  
 above                                                                                                                                                                                                                                                                        
 financial                                                                                                                                                                                                                                                                    
 assets are                                                                                                                                                                                                                                                                   
 not impaired                                                                                                                                                                                                                                                                  
 or past due                              

- More to follow, for following part double click  ID:nRST3729Gf