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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2014
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2014
(Expressed in Barbados dollars)
33
13. Investment in Subsidiary
2014
2013
BPW Financial Holdings Inc. – 100%
$ 8,500,000
2,000,000
On July 9, 2013, the Board of Directors approved a resolution for the issuance of an additional
$2,000,000 in share capital.
On March 25, 2014, the Board of Directors approved a further resolution for the issuance of an
additional $4,500,000 in share capital.
14. Other Assets
Other assets are comprised of the following:
2014
2013
Accounts receivable
$
3,035,974
2,754,627
Prepaid employee benefit (Note 17)
2,581,584
-
Prepaid expenses
1,736,880
1,497,743
Interest receivable on cash resources
33,674
124,141
Dividend receivable
55,000
55,000
$ 7,443,112
4,431,511