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15
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
Share Statutory
Other
Retained
Notes
capital
reserves
reserves
earnings
Total
Balance at April 1, 2012,
as previously reported
$ 7,393,680 62,907,875
1,271,236
6,890,866 78,463,657
Impact of change in accounting
policy [Note 2 (d) (iii)]
- -
378,569
-
378,569
Restated balance at April 1, 2012
7,393,680 62,907,875
1,649,805
6,890,866 78,842,226
Net income
(restated)
-
-
-
11,993,400 11,993,400
Other comprehensive income
(restated)
-
-
(608,621)
-
(608,621)
Issue of shares
418,440
-
-
-
418,440
Redemption of shares
(51,720)
-
-
-
(51,720)
Transfer to statutory reserves
19
-
8,568,868
-
(8,568,868)
-
Entrance fees
19
-
17,435
-
-
17,435
Transfer to special reserves
20
-
-
914,280
(914,280)
-
Special reserves released
to retained earnings
20
-
-
(871,210)
871,210
-
Distributions to members
7 - -
-
(1,543,019)
(1,543,019)
Restated balance at March 31, 2013
7,760,400 71,494,178
1,084,254
8,729,309 89,068,141
Net income
-
-
-
10,427,064 10,427,064
Other comprehensive income
-
-
(290,608)
-
(290,608)
Issue of shares
521,400
-
-
-
521,400
Redemption of shares
(41,520)
-
-
-
(41,520)
Transfer to statutory reserves
19
-
10,207,550
-
(10,207,550)
-
Entrance fees
19
-
21,725
-
-
21,725
Transfer to special reserves
20
-
-
1,105,025 (1,105,025)
-
Special reserves released
to retained earnings
20
-
-
(840,745)
840,745
-
Reserve for interest on non-
performing loans
20
-
-
856,560
(856,560)
-
Distributions to members
7 - -
-
(1,888,408)
(1,888,408)
At March 31, 2014
$ 8,240,280 81,723,453
1,914,486 5,939,575 97,817,794
The accompanying notes form an integral part of these non-consolidated financial statements.
5
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Non-consolidated Statement of Changes in Equity
For the year ended March 31, 2014
With comparative figures for 2013
(Expressed in Barbados dollars)
Share
S atutory
Other
Retain
Notes
capital
res rves
reserves
earnin
Balance at April 1, 2012,
as previously reported
$
7,393,680
62,907,875
1,271,236
6,890,8
Impact of change in accounting
policy [Note 2 (d) (iii)]
-
-
378,569
-
Restated balance at April 1, 2012
7,393,680
62,907,875
1,649,805
6,890,8
Net income
(restated)
-
-
-
11,993,4
Other comprehensive income
(restated)
-
-
(608,621)
-
Issue of shares
418,440
-
-
-
Redemption of shares
(51,720)
-
-
-
Transfe to statutory res rves
19
-
8,5 8,868
-
(8,568,8
Entrance fees
19
-
17,435
-
-
Transfer to special reserves
20
-
-
914,280
(914,2
Special reserves released
to retained earnings
20
-
-
(871,210)
871,2
Distributions to members
7
-
-
-
(1,543,0
Restated balance at March 31, 2013
7,760,400
71,494,178
1,084,254
8,729,3
Net income
-
-
-
10,427,0
Other comprehensive income
-
-
(290,608)
-
Iss e of shares
521,400
-
-
-
Redemption of shares
(41,520)
-
-
-
Transfer to statutory reserves
19
-
10,207,550
-
(10,207,5
Entrance fees
19
-
21,725
-
-
Transfer to special reserves
20
-
-
1,105,025
(1,105,0
Special reserves released
t ret ined earnings
20
-
-
(840,745)
840,7
Net reserve for interest on non-
performing loans
20
-
-
856,560
(856,5
Distributions to members
7
-
-
-
(1,888,4
At March 31, 2014
$
8,240,280
81,723,453
1,914,486
5,939,5
The accompanying notes form an integral part of these non-consolidated financial statements.