Consolidated Annual Report 2015

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2015 18 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2015 With comparative figures as at March 31, 2014 (Expressed in Barbados dollars) Notes 2015 2014 Assets Cash resources 10 $ 108,772,406 122,627,943 Financial investments Held to maturity 11 25,838,462 20,395,633 Available-for-sale 11 2,033,220 2,107,517 Loans and receivables 11 3,112,780 3,181,576 Loans and advances 12 906,059,531 825,149,124 Property and equipment 13 30,060,208 30,009,202 Pension plan asset 14 687,429 5,716 Corporation tax recoverable 363,105 366,281 Intangible asset 16 2,910,000 2,910,000 Other assets 15 10,840,468 10,296,216 Total Assets $ 1,090,677,609 1,017,049,208 Liabilities and Equity Liabilities Deposits 17 $ 915,311,940 839,051,895 Loans payable 18 52,034,942 63,966,144 Reimbursable shares 6,700,221 5,351,432 Asset tax payable 7 1,074,967 - Corporation tax payable - 41,021 Deferred taxation 8 84,041 81,785 Other liabilities 19 10,023,497 11,954,059 Total liabilities 985,229,608 920,446,336 Equity Share capital 20 8,763,840 8,240,280 Statutory reserves 21 89,803,786 81,891,199 Other reserves 22 2,772,755 1,907,154 Retained earnings 4,107,620 4,564,239 Total equity 105,448,001 96,602,872 Total Liabilities and Equity $ 1,090,677,609 1,017,049,208 The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on May 28, 2015 and signed on its behalf by: ............................................................... ..................................................... Glendon Belle Anthony Christie President Treasurer 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2015 With comparative figures as at March 31, 2014 (Expressed in Barbados dollars) Notes 2015 2014 Asset Cash resources 10 $ 108,772,406 122,627,943 Financial investments Held to maturity 25 8 8 462 20 395 633 Av ilable-for-sale 2 033 22 2 07 17 Loans and receivables 1 3 112 780 3 81 576 Loans and advances 2 906 59 531 825 14 124 roperty and equipment 3 30,060 208 30,009 202 Pension plan ass t 14 687 429 5 716 Corporation tax recoverable 363 1 5 366 281 In angible a set 6 2 91 000 2 910 000 Other assets 15 10,840,468 10,296,216 Total Assets $ 1,090,677,609 1,017,049,208 i bilities and Equity Liabilities Depo its 7 $ 915 311 0 839 051 895 Loans payable 18 52 034 942 63 966 144 Reimbursable shares 6 700 221 5,351,432 Asset t x pay ble 7 1,074,967 - Corporation tax payable - 4 021 Def red taxation 8 84 041 81 785 Other liabilities 19 10,023,497 11,954,059 Total liabilities 985,229,608 920,446,336 Equity hare capital 0 8 76 840 8 240 280 Statutory res rves 1 89 803 86 8 891 99 Other r s rves 22 2 772 755 1 907 154 Retained earnings 4,107,620 4,564,239 Total equity 105,448,001 96,602,872 Total Liabilities and Equity $ 1,090,677,609 1,017,049,208 The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on May 28, 2015 and signed on its behalf by: ............................................................... ..................................................... Gl n o Belle Anthony Christie President Treasurer