FOR THE YEAR ENDED DECEMBER 31, 2014
2014 2013
GBP'000 GBP'000
Loss attributable to equity holders (47,589) (42,497)
Items that will not be reclassified to profit or loss - -
Items that have been or may be subsequently reclassified to profit or loss
Available-for-sale investments
Revaluation of available-for-sale investments (8,640) (36,749)
Reclassification to income statement on disposal of available-for-sale investments (1,350) 6,398
Reclassification to income statement on impairment 4,873 26,321
Deferred tax relating to items that have been or may be reclassified 1,034 (171)
Net exchange loss on translation of foreign operations (2,710) (28,923)
--------- ---------
Other comprehensive loss for the year, net of tax (6,793) (33,124)
Total comprehensive loss for the year (54,382) (75,621)
========= =========
Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEET
AS AT DECEMBER 31, 2014
2014 2013
Notes GBP'000 GBP'000
Non-current assets
Property, plant and equipment 153 1,989
Coal royalties (Kestrel) 117,097 131,434
Royalty financial instruments 8,142 27,847
Royalty and exploration intangible assets 37,110 37,288
Mining and exploration interests 9,896 20,072
Deferred costs 1,462 -
Investments in subsidiaries - -
Other receivables 9,657 8,775
Deferred tax 2,307 8,837
-------- --------
Total non-current assets 185,824 236,242
Current assets
Trade and other receivables 5,272 5,332
Cash and cash equivalents 8,769 15,706
-------- --------
Total current assets 14,041 21,038
Total assets 199,865 257,280
======== ========
Non-current liabilities
Other payables 83 -
Deferred tax 34,908 39,202
-------- --------
Total non-current liabilities 34,991 39,202
Current liabilities
Income tax liabilities 687 465
Trade and other payables 2,937 762
-------- --------
Total current liabilities 3,624 1,227
Total liabilities 38,615 40,429
-------- --------
Capital and reserves attributable to shareholders
Share capital 2,329 2,218
Share premium 29,328 29,328
Other reserves 15,832 12,509
Retained earnings 113,761 172,796
-------- --------
Total equity 161,250 216,851
-------- --------
Total equity and liabilities 199,865 257,280
======== ========
Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE TWO YEARS ENDED DECEMBER 31, 2014
Other reserves
Foreign
Share
Investment based currency
Investment
Share Share Merger Warrant revaluation payment translation Special in Retained Total
capital premium reserve reserve reserve reserve reserve reserve own shares earnings equity
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
-------------------- -------- -------- -------- -------- ------------ --------- ------------ -------- ----------- --------- ---------
January 1, 2013 2,192 26,853 - - 9,771 354 37,673 632 (2,601 ) 226,090 300,964
Loss for the year - - - - - - - - - (42,497) (42,497)
Other comprehensive
income:
Available-for-sale
investments
Valuation
movement taken
to equity - - - - (36,749) - (542) - - - (37,291)
Transferred to
income
statement on
disposal - - - - 6,398 - - - - - 6,398
Transferred to
income
statement on
impairment - - - - 26,321 - - - - - 26,321
Deferred tax - - - - (171) - 45 - - - (126)
Foreign currency
translation - - - - - - (28,426) - - - (28,426)
Total comprehensive
loss - - - - (4,201) - (28,923) - - (42,497) (75,621)
-------- -------- -------- -------- ------------ --------- ------------ -------- ----------- --------- ---------
Dividends - - - - - - - - - (11,065) (11,065)
Issue of ordinary
shares 26 2,475 - - - - - - - - 2,501
Value of employee
services - - - - - (196) - - - 268 72
Total transactions
with owners of the
company 26 2,475 - - - (196) - - - (10,797) (8,492)
-------- -------- -------- -------- ------------ --------- ------------ -------- ----------- --------- ---------
December 31, 2013 2,218 29,328 - - 5,570 158 8,750 632 (2,601) 172,796 216,851
======== ======== ======== ======== ============ ========= ============ ======== =========== ========= =========
January 1, 2014 2,218 29,328 - - 5,570 158 8,750 632 (2,601) 172,796 216,851
Loss for the year - - - - - - - - - (47,589) (47,589)
Other comprehensive
income:
Available-for-sale
investments
Valuation
movement taken
to equity - - - - (8,640) - 302 - - - (8,338)
Transferred to
income
statement on
disposal - - - - (1,350) - - - - - (1,350)
Transferred to
income
statement on
impairment - - - - 4,873 - - - - - 4,873
Deferred tax - - - - 1,034 - (19) - - - 1,015
Foreign currency
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