REG - Westmount Energy Ld - Final Results <Origin Href="QuoteRef">WNRG.L</Origin> - Part 7

Westmount EnergyAnnouncement

14/11/2014 17:40

- Part 7: For the preceding part double click  ID:nRSN1233Xf 

                                                                                                                                                                                                                            
 The                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 primary                                                                                                                                                                                                                                                                
 source of                                                                                                                                                                                                                                                              
 liquidity                                                                                                                                                                                                                                                              
 consists                                                                                                                                                                                                                                                               
 of cash                                                                                                                                                                                                                                                                
 and cash                                                                                                                                                                                                                                                               
 equivalent                                                                                                                                                                                                                                                              
 s and                                                                                                                                                                                                                                                                  
 investment                                                                                                                                                                                                                                                              
 s held at                                                                                                                                                                                                                                                              
 fair value                                                                                                                                                                                                                                                              
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss. The                                                                                                                                                                                                                                                              
 Company's                                                                                                                                                                                                                                                              
 investment                                                                                                                                                                                                                                                              
 s at fair                                                                                                                                                                                                                                                              
 value                                                                                                                                                                                                                                                                  
 through                                                                                                                                                                                                                                                                
 profit or                                                                                                                                                                                                                                                              
 loss are                                                                                                                                                                                                                                                               
 publicly                                                                                                                                                                                                                                                               
 traded and                                                                                                                                                                                                                                                              
 are deemed                                                                                                                                                                                                                                                              
 highly                                                                                                                                                                                                                                                                 
 liquid.                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                        
 NOTES TO                                                                                                                                                                                                                                                               
 THE                                                                                                                                                                                                                                                                    
 FINANCIAL                                                                                                                                                                                                                                                              
 STATEMENTS                                                                                                                                                                                                                                                              
 (Continued                                                                                                                                                                                                                                                              
 )FOR THE                                                                                                                                                                                                                                                               
 YEAR ENDED                                                                                                                                                                                                                                                              
 30 JUNE                                                                                                                                                                                                                                                                
 2014 11.                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                        
 FINANCIAL                                                                                                                                                                                                                                                              
 RISK                                                                                                                                                                                                                                                                   
 (Continued                                                                                                                                                                                                                                                              
 ) The                                                                                                                                                                                                                                                                  
 following                                                                                                                                                                                                                                                              
 table                                                                                                                                                                                                                                                                  
 details                                                                                                                                                                                                                                                                
 the                                                                                                                                                                                                                                                                    
 contractua                                                                                                                                                                                                                                                              
 l,                                                                                                                                                                                                                                                                     
 undiscount                                                                                                                                                                                                                                                              
 ed cash                                                                                                                                                                                                                                                                
 flows of                                                                                                                                                                                                                                                               
 the                                                                                                                                                                                                                                                                    
 Company's                                                                                                                                                                                                                                                              
 financial                                                                                                                                                                                                                                                              
 liabilitie                                                                                                                                                                                                                                                              
 s:                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                        
 As at 30                                                                                                                                                                                                                                                               
 June 2014                                                                                                                                                                                                                                                              
           Up to 3 months                                                                                                                                                                                                                                               Up to1 year   Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                           
 liabilitie                                                                                                                                                                                                                                                                                                           
 s                                                                                                                                                                                                                                                                                                                   
 Accrued   23,049                                                                                                                                                                                                                                                       -             -            23,049            
 expenses                                                                                                                                                                                                                                                                                                            
 Payable to -                                                                                                                                                                                                                                                            34,782        -            34,782            
 shareholde                                                                                                                                                                                                                                                                                                           
 rs                                                                                                                                                                                                                                                                                                                  
           23,049                                                                                                                                                                                                                                                       34,782        -            57,831            
                                                                                                                                                                                                                                                                                                                     
 As at 30                                                                                                                                                                                                                                                               
 June 2013                                                                                                                                                                                                                                                              
           Up to 3 Months                                                                                                                                                                                                                                               Up to 1 year  Over 1 year  Total £           
 Financial                                                                                                                                                                                                                                                                                                           
 liabilitie                                                                                                                                                                                                                                                                                                           
 s                                                                                                                                                                                                                                                                                                                   
 Accrued   24,602                                                                                                                                                                                                                                                       -             -            24,602            
 expenses                                                                                                                                                                                                                                                                                                            
 Payable to -                                                                                                                                                                                                                                                            65,319        -            65,319            
 shareholde                                                                                                                                                                                                                                                                                                           
 rs                                                                                                                                                                                                                                                                                                                  
           24,602                                                                                                                                                                                                                                                       65,319        -            89,921            
                                                                                                                                                                                                                                                                                                                     
 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                                                                                                                                                                                                                                                                    
 shareholde                                                                                                                                                                                                                                                              
 rs and                                                                                                                                                                                                                                                                 
 benefits                                                                                                                                                                                                                                                               
 for other                                                                                                                                                                                                                                                              
 stakeholde                                                                                                                                                                                                                                                              
 rs 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                                                                                                                                                                                                                                                              
 shareholde                                                                                                                                                                                                                                                              
 rs or sell                                                                                                                                                                                                                                                              
 assets.                                                                                                                                                                                                                                                                
 The                                                                                                                                                                                                                                                                    
 Company                                                                                                                                                                                                                                                                
 doe