Consolidated Annual Report 2014

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ANNUAL REPORT 2014 19 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2014 With comparative figures as at March 31, 2013 (Expressed in Barbados dollars) April 1, Notes 2014 2013 2012 Restated* Restated* Assets Cash resources 9 $ 122,627,943 117,433,453 102,900,958 Financial investments Held to maturity 10 20,395,633 16,377,955 11,317,370 Available-for-sale 10 2,107,517 2,044,394 2,338,066 Loans and receivables 10 3,181,576 3,272,398 4,214,891 Loans and advances 11 825,149,124 774,614,499 749,729,372 Property and equipment 12 30,009,202 27,263,027 26,552,722 Pension plan asset 13 5,716 322,043 761,610 Corporation tax recoverable 366,281 380,367 380,367 Intangible asset 15 2,910,000 2,910,000 2,910,000 Other assets 14 10,296,216 6,666,965 5,459,158 Total assets 1,017,049,208 951,285,101 906,564,514 Liabilities and Equity Liabilities Deposits 16 839,051,895 772,320,340 735,909,041 Loans payable 17 63,966,144 74,476,147 80,100,530 Reimbursable shares 5,351,432 5,726,048 4,532,147 Corporation tax payable 41,021 172,113 52,098 Deferred taxation 7 81,785 29,326 9,059 Other liabilities 18 11,954,059 11,407,220 9,855,048 Total liabilities 920,446,336 864,131,194 830,457,923 Equity Share capital 19 8,240,280 7,760,400 7,393,680 Statutory reserves 20 81,891,199 71,540,222 62,953,919 Other reserves 21 1,907,154 1,077,959 1,633,270 Retained earnings 4,564,239 6,775,326 4,125,722 Total equity 96,602,872 87,153,907 76,106,591 Total liabilities and equity $ 1,017,049,208 951,285,101 906,564,514 * See Note 2.4 (iii) The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on May 29, 2014 and signed on its behalf by: ............................................................... ..................................................... Glendon Belle Paula Byer President Treasurer 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2014 With comparative figures as at March 31, 2013 (Expressed in Barbados dollars) April 1, Notes 2014 201 2012 Restated* Restated* Assets Cash resources 9 $ 12 62 943 117 433 453 10 900 958 Financial i vestments Held to m turity 0 0 395 633 16 377 955 11 317 0 Available-for-sale 0 2 1 7 517 2 044 394 2 338 066 Loans and receivables 0 3,181 57 3,27 398 4,214 891 L ans nd advances 11 825,149 124 774,614 499 749,729 72 Property and quipment 2 30 009 2 2 27 263 27 26 552 722 Pension plan asset 3 5 7 322 043 761 610 Corporation tax recoverable 366,281 380,367 380,367 Intangible asset 15 2 910 0 0 2 910 0 0 2 910 000 Other assets 14 10,296,216 6,666,965 5,459,158 Total assets 1,017,049,208 951,285,101 906,564,514 i bilities and Equity Liabilities Deposits 16 839,05 895 772,320 340 735,909 41 Loans pay ble 17 63,966 144 74,476 147 80,100 530 Reimbursabl shares 5 3 1 432 5 726 048 4 532 1 7 Corporation tax payable 41,021 172,113 52,098 Deferred taxation 7 81 785 29 326 9 059 Other liabilities 18 11,954,059 11,407,220 9,855,048 To l liabilities 920 4 6 336 864 131 194 830 457 923 Equity Share capit l 19 8 240 80 7 60 400 7 393 680 Statutory reserves 20 81,891,199 71,540,222 62,953,919 Other reserves 21 1 9 7 154 1 077 59 1 633 270 Retained earnings 4,564,239 6,775,326 4,125,722 Total equity 96,602,872 87,153,907 76,106,591 Total liabilities and equity $ 1,017,049,208 951,285,101 906,564,514 * See Note 2.4 (iii) The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on May 29, 2014 and signed on its behalf by: ............................................................... ..................................................... Glendon Belle Paula Byer President Treasurer