Non-Consolidated Annual Report 2015

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2015 17 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Changes in Equity For the year ended March 31, 2015 With comparative figures for 2014 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserves reserves earnings Restated balance at March 31, 2013 $ 7,760,400 71,494,178 1,084,254 8,729,309 Net income - - - 10,427,064 Other comprehensive income - - (290,608) - Issue of shares 521,400 - - - Redemption of shares (41,520) - - - Transfer to statutory reserves 20 - 10,207,550 - (10,207,550) Entrance fees 20 - 21,725 - - Transfer to special reserves 21 - - 1,105,025 (1,105,025) Special reserves released to retained earnings 21 - - (840,745) 840,745 Net reserve for interest on non- performing loans 21 - - 856,560 (856,560) Distributions to members 8 - - - (1,888,408) At March 31, 2014 8,240,280 81,723,453 1,914,486 5,939,575 Net income - - - 9,606,265 Other comprehensive income - - 619,508 - Issue of shares 584,280 - - - Redemption of shares (60,720) - - - Transfer to statutory reserves 20 - 7,744,779 - (7,744,779) Entrance fees 20 - 24,345 - - Transfer to special reserves 21 - - 887,398 (887,398) Special reserves released to retained earnings 21 - - (1,065,814) 1,065,814 Net reserve for interest on non- performing loans 21 - - 429,853 (429,853) Distributions to members 8 - - - (1,958,497) At March 31, 2015 $ 8,763,840 89,492,577 2,785,431 5,591,127 The accompanying notes form an integral part of these non-consolidated financial statements. Share tatutory Other Retained Notes capital reserves r r earnings Total 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 20 - 10,207,550 - (10,207,550) - Entrance fees 20 - 21,725 - - 21,725 Transfer to special reserves 21 - - 1,105,025 (1,105,025) - Special reserves released to retained earnings 21 - - (840,745) 840,745 - Net reserve for interest on non- performing loans 21 - - 856,560 (856,560) - Distributions to members 8 - - - (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 Net income - - - 9,606,265 9,606,265 Other comprehensive income - - 619,508 - 619,508 Issue of shares 584,280 - - - 584,280 Redemption of shares (60,720) - - - (60,720) Transfer to statutory reserves 20 - 7,744,779 - (7,744,779) - Entrance fees 20 - 24,345 - - 24,345 Transfer to special reserves 21 - - 887,398 (887,398) - Special reserves released to retained earnings 21 - - (1,065,814) 1,065,814 - Net reserve for interest on non- perfo ming loans 21 - - 29 853 (4 9, 3) - Distributi ns to member 8 - - - (1,958,497) (1,958,497) At March 31, 2015 $ 8,763,840 89,492,577 2,785,431 5,591,127 106,632,975 The accompanying notes form an integral part of these non-consolidated financial statements.