REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 6

Westmount EnergyAnnouncement

20/11/2015 07:01

- Part 6: For the preceding part double click  ID:nRST3729Ge 

                                                                                                                                                                                                                                    
 for each of                                                                                                                                                                                                                                                                  
 the                                                                                                                                                                                                                                                                          
 reporting                                                                                                                                                                                                                                                                    
 dates under                                                                                                                                                                                                                                                                  
 review and                                                                                                                                                                                                                                                                   
 are of good                                                                                                                                                                                                                                                                  
 credit                                                                                                                                                                                                                                                                       
 quality.                                                                                                                                                                                                                                                                     
 c)                                                                                                                                                                                                                                                                           
 Liquidity                                                                                                                                                                                                                                                                    
 Risk                                                                                                                                                                                                                                                                         
 Liquidity                                                                                                                                                                                                                                                                    
 risk is the                                                                                                                                                                                                                                                                  
 risk that                                                                                                                                                                                                                                                                    
 the Company                                                                                                                                                                                                                                                                  
 cannot meet                                                                                                                                                                                                                                                                  
 its                                                                                                                                                                                                                                                                          
 liabilities                                                                                                                                                                                                                                                                  
 as they fall                                                                                                                                                                                                                                                                  
 due. The                                                                                                                                                                                                                                                                     
 Company's                                                                                                                                                                                                                                                                    
 primary                                                                                                                                                                                                                                                                      
 source of                                                                                                                                                                                                                                                                    
 liquidity                                                                                                                                                                                                                                                                    
 consists of                                                                                                                                                                                                                                                                  
 cash and                                                                                                                                                                                                                                                                     
 cash                                                                                                                                                                                                                                                                         
 equivalents                                                                                                                                                                                                                                                                  
 and                                                                                                                                                                                                                                                                          
 investments                                                                                                                                                                                                                                                                  
 held at fair                                                                                                                                                                                                                                                                  
 value                                                                                                                                                                                                                                                                        
 through                                                                                                                                                                                                                                                                      
 profit or                                                                                                                                                                                                                                                                    
 loss. The                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                                    
 investments                                                                                                                                                                                                                                                                  
 at fair                                                                                                                                                                                                                                                                      
 value                                                                                                                                                                                                                                                                        
 through                                                                                                                                                                                                                                                                      
 profit or                                                                                                                                                                                                                                                                    
 loss are                                                                                                                                                                                                                                                                     
 publicly                                                                                                                                                                                                                                                                     
 traded and                                                                                                                                                                                                                                                                   
 are deemed                                                                                                                                                                                                                                                                   
 highly                                                                                                                                                                                                                                                                       
 liquid.                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                              
 The                                                                                                                                                                                                                                                                          
 following                                                                                                                                                                                                                                                                    
 table                                                                                                                                                                                                                                                                        
 details the                                                                                                                                                                                                                                                                  
 contractual,                                                                                                                                                                                                                                                                  
 undiscounted                                                                                                                                                                                                                                                                  
 cash flows                                                                                                                                                                                                                                                                   
 of the                                                                                                                                                                                                                                                                       
 Company's                                                                                                                                                                                                                                                                    
 financial                                                                                                                                                                                                                                                                    
 liabilities:                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                              
 As at 30                                                                                                                                                                                                                                                                     
 June 2015                                                                                                                                                                                                                                                                    
             Up to 3 months                                                                                                                                                                                                                                                   Up to1 year   Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                                 
 liabilities                                                                                                                                                                                                                                                                                                               
 Accrued     31,760                                                                                                                                                                                                                                                           -             -            31,760            
 expenses                                                                                                                                                                                                                                                                                                                  
             31,760                                                                                                                                                                                                                                                           -             -            31,760            
                                                                                                                                                                                                                                                                                                                           
 As at 30                                                                                                                                                                                                                                                                     
 June 2014                                                                                                                                                                                                                                                                    
             Up to 3 Months                                                                                                                                                                                                                                                   Up to 1 year  Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                                 
 liabilities                                                                                                                                                                                                                                                                                                               
 Accrued     23,049                                                                                                                                                                                                                                                           -             -            23,049            
 expenses                                                                                                                                                                                                                                                                                                                  
 Payable to  -                                                                                                                                                                                                                                                                34,782        -            34,782            
 shareholders                                                                                                                                                                                                                                                                                                               
             23,049                                                                                                                                                                                                                                                           34,782        -            57,831            
                                                                                                                                                                                                                                                                                                                           
 Capital                                                                                                                                                                                                                                                                      
 Management                                                                                                                                                                                                                                                                   
 The                                                                                                                                                                                                                                                                          
 Company's                                                                                                                                                                                                                                                                    
 objective                                                                                                                                                                                                                                                                    
 when                                                                                                                                                                                                                                                                         
 managing                                                                                                                                                                                                                                                                     
 capital is                                                                                                                                                                                                                                                                   
 to safeguard                                                                                                                                                                                                                                                                  
 the                                                                                                                                                                                                                                                                          
 Company's                                                                                                                                                                                                                                                                    
 ability to                                                                                                                                                                                                                                                                   
 continue as                                                                                                                                                                                                                                                                  
 a going                                                                                                                                                                                                                                                                      
 concern in                                                                                                                                                                                                                                                                   
 order to                                                                                                                                                                                                                                                                     
 provide                                                                                                                                                                                                                                                                      
 optimum                                                                                                                                                                                                                                                                      
 returns for                                                                                                                                                                                                                                                                  
 shareholders                                                                                                                                                                                                                                                                  
 and benefits                                                                                                                                                                                                                                                                  
 for other                                                                                                                                                                                                                                                                    
 stakeholders                                                                                                                                                                                                                                                                  
 and to                                                                                                                                                                                                                                                                       
 maintain an                                                                                                                                                                                                                                                                  
 optimal                                                                                                                                                                                                                                                                      
 capital                                                                                                                                                                                                                                                                      
 structure to                                                                                                                                                                                                                                                                  
 reduce cost                                                                                                                                                                                                                                                                  
 of capital.                                                                                                                                                                                                                                                                  
 In order to                                                                                                                                                                                                                                                                  
 maintain or                                                                                                                                                                                                                                                                  
 adjust the                                                                                                                                                                                                                                                                   
 capital                                                                                                                                                                                                                                                                      
 structure,                                                                                                                                                                                                                                                                   
 the Company                                                                                                                                                                                                                                                                  
 may issue                                                                                                                                                                                                                                                                    
 new shares,                                                                                                                                                                                                                                                                  
 return                                                                                                                                                                                                                                                                       
 capital to                                                                                                                                                                                                                                                                   
 shareholders                                                                                                                                                                                                                                                                  
 or sell                                                                                                                                                                                                                                                                      
 assets. The                                                                                                                                                                                                                                                                  
 Company does                                                                                                                                                                                                                                                                  
 not have any                                                                                                                                                                                                                                                                  
 debt nor is                                                                                                                                                                                                                                                                  
 the Company                                                                                                                                                                                                                                                                  
 subject to                                                                                                                                                                                                                                                                   
 any external                                                                                                                                                                                                                                                                  
 capital                                                                                                                                                                                                                                                                      
 requirements                                                                                                                                                                                                                                                                  
 .                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                  
 Fair Value                                                                                                                                                                                                                                                                   
 Estimation                                                                                                                                                                                                                                                                   
 The Company                                                                                                                                                                                                                                                                  
 has                                                                                                                                                                                                                                                                          
 classified                                                                                                                                                                                                                                                                   
 its                                                                                                                                                                                                                                                                          
 financial                                                                                                                                                                                                                                                                    
 assets as                                                                                                                                                                                                                                                                    
 fair value                                                                                                                                                                                                                                                                   
 through                                                                                                                                                                                                                                                                      
 profit or                                                                                                                                                                                                                                                                    
 loss and                                                                                                                                                                                                                                                                     
 fair value                                                                                                                                                                                                                                                                   
 is                                                                                                                                                                                                                                                                           
 determined                                                                                                                                                                                                                                                                   
 via one of                                                                                                                                                                                                                                                                   
 the                                                                                                                                                                                                                                                                          
 following                                                                                                                                                                                                                                                                    
 categories:                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                              
 Level I - An                                                                                                                                                                                                                                                                  
 unadjusted                                                                                                                                                                                                                                                                   
 quoted price                                                                                                                                                                                                                                                                  
 in an active                                                                                                                                                                                                                                                                  
 market                                                                                                                                                                                                                                                                       
 provides the                                                                                                                                                                                                                                                                  
 most                                                                                                                                                                                                                                                                         
 reliable                                                                                                                                                                                                                                                                     
 evidence of                                                                                                                                                                                                                                                                  
 fair value                                                                                                                                                                                                                                                                   
 and is used                                                                                                                                                                                                                                                                  
 to measure                                                                                                                                                                                                                                                                   
 fair value                                                                                                                                                                                                                                                                   
 whenever                                                                                                                                                                                                                                                                     
 available.                                                                                                                                                                                                                                                                   
 As required                                                                                                                                                                                                                                                                  
 by IFRS 7,                                                                                                                                                                                                                                                                   
 the Company                                                                                                                                                                                                                                                                  
 will not                                                                                                                                                                                                                                                                     
 adjust the                                                                                                                                                                                                                                                                   
 quoted price                                                                                                                                                                                                                                                                  
 for these                                                                                                                                                                                                                                                                    
 investments,                                                                                                                                                                                                                                                                  
 (even in                                                                                                                                                                                                                                                                     
 situations                                                                                                                                                                                                                                                                   
 where it                                                                                                                                                                                                                                                                     
 holds a                                                                                                                                                                                                                                                                      
 large                                                                                                                                                                                                                                                                        
 position and                                                                                                                                                                                                                                                                  
 a sale could                                                                                                                                                                                                                                                                  
 reasonably                                                                                                                                                                                                                                                                   
 impact the                                                                                                                                                                                                                                                                   
 quoted                                                                                                                                                                                                                                                                       
 price).                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                              
 Level II -                                                                                                                                                                                                                                                                   
 Inputs are                                                                                                                                                                                                                                                                   
 other than                                                                                                                                                                                                                                                                   
 unadjusted                                                                                                                                                                                                                                                                   
 quoted                                                                                                                                                                                                                                                                       
 prices in                                                                                                                                                                                                                                                                    
 active                                                                                                                                                                                                                                                                       
 markets,                                                                                                                                                                                                                                                                     
 which are                                                                                                                                                                                                                                                                    
 either                                                                                                                                                                                                                                                                       
 directly or                                                                                                                                                                                                                                                                  
 indirectly                                                                                                                                                                                                                                                                   
 observable                                                                                                                                                                                                                                                                   
 as of the                                                                                                                                                                                                                                                                    
 reporting                                                                                                                                                                                                                                                                    
 date, and                                                                                                                                                                                                                                                                    
 fair value                                                                                                                                                                                                                                                                   
 is                                                                                                                                                                                                                                                                           
 determined                                                                                                                                                                                                                                                                   
 through the                                                                                                                                                                                                                                                                  
 use of                                                                                                                                                                                                                                                                       
 models or                                                                                                                                                                                                                                                                    
 other                                                                                                                                                                                                                                                                        
 valuation                                                                                                                                                                                                                                                                    
 methodologie                                                                                                                                                                                                                                                                  
 s.                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                              
 Level III -                                                                                                                                                                                                                                                                  
 Inputs are                                                                                                                                                                                                                                                                   
 unobservable                                      

- More to follow, for following part double click  ID:nRST3729Gg