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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
14
4
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Non-consolidated Statement of Financial Position
As at March 31, 2014
With comparative figures as at March 31, 2013 and April 1, 2012
(Expressed in Barbados dollars)
April 1,
Notes
2014
2013
2012
Restated*
Restated*
Assets
Cash resources
8
$ 109,228,502 110,240,420
90,691,178
Financial investments
- Held to maturity
9
20,395,633
16,377,955
11,317,370
- Available-for-sale
9
1,954,348
1,854,710
1,939,000
Loans and advances
10
684,331,479 651,867,950 642,796,666
Property and equipment
11
27,625,664
26,716,310
25,784,430
Pension plan asset
12
5,716
322,043
761,610
Investment in subsidiary
13
8,500,000
2,000,000
2,000,000
Due from related companies
21
17,107,462
13,034,575
12,841,112
Other assets
14
7,443,112 4,431,511 3,720,096
Total Assets
$ 876,591,916 826,845,474 791,851,462
Liabilities and Equity
Liabilities
Deposits
15
$ 721,766,830 672,403,345 646,435,236
Loans payable
16
43,688,473
55,432,374
59,661,007
Reimbursable shares
5,351,432
5,726,048
4,532,147
Other liabilities
17
7,967,387 4,215,566 2,380,846
Total liabilities
778,774,122 737,777,333 713,009,236
Equity
Share capital
18
8,240,280
7,760,400
7,393,680
Statutory reserves
19
81,723,453
71,494,178
62,907,875
Other reserves
20
1,914,486
1,084,254
1,649,805
Retained earnings
5,939,575 8,729,309 6,890,866
Total equity
97,817,794 89,068,141 78,842,226
Total Liabilities and Equity
$ 876,591,916 826,845,474 791,851,462
* See Note 2 (d) (iii)
The accompanying notes form an integral part of these non-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
4
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Non-consolidated Statement of Financial Position
As at March 31, 2014
With comparative figures as at March 31, 2013 and April 1, 2012
(Expressed in Barbados dollars)
April 1,
Notes
2014
2013
2012
Restated*
Restated*
Assets
Cash resources
8
$ 109,228,502 110,240,42
90,6 1,178
Financial i vestments
- Held to maturity
9
20,39 ,633
16, 77,955
11,317,37
- Available-for-sale
9
1,954,348
1,854,71
1,939,
Loans and advan es
10
684,331, 79 651,867,950 64 ,796,666
Property and equipment
1
2 ,625,664
26,716,3 0
25, 84,430
Pension plan asset
12
5,716
322,043
761,610
Investment in subsidiary
13
8, 00,000
2,000,000
2,000,000
Due from related companies
21
17,107,462
13,034,575
12,841,112
Other assets
14
7,443,112 4,431,511 3,720,096
Total Assets
$ 876,591,916 826,845,474 791,851,462
Liabilities and Equity
Liabilities
Deposits
15
$ 721,766,830 672,403,345 646,435,236
Loans payable
16
43,688,473
55,432, 74
59,661,007
Reimbursable shares
5,351,432
5,726,048
4,532,147
Other liabilities
17
7,967,387 4,215,566 2,380,846
Total liabilities
778, 74,122 737,777,333 713,0 9,236
Equity
Share capital
18
8,240,280
7,760,400
7,393,680
Statutory reserves
19
81,723,453
71,494, 78
62,907,875
Other reserves
20
1,914,486
1,084,254
1,649,805
Retained earnings
5,939,575 8,729,309 6, 90,8 6
Total equity
97,817,794 89,068,141 78,842,226
Total Liabilities and Equity
$ 876,591,916 826,845,474 791,851,462
* See Note 2 (d) (iii)
The accompanying notes form an integral part of these non-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