Consolidated Annual Report 2016

17 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2016 With comparative figures as at March 31, 2015 (Expressed in Barbados dollars) Notes 2016 2015 Assets Cash resources 10 $ 128,343,666 108,772,406 Financial investments Held to maturity 11 29,074,183 25,838,462 Available-for-sale 11 2,405,377 2,033,220 Loans and receivables 11 3,550,855 3,112,780 Loans and advances 12 1,001,429,988 906,059,531 Property and equipment 13 31,712,173 30,060,208 Pension plan asset 14 437,778 687,429 Corporation tax recoverable 331,608 363,105 Intangible asset 16 2,910,000 2,910,000 Other assets 15 15,902,337 10,840,468 Total Assets $ 1,216,097,965 1,090,677,609 Liabilities and Equity Liabilities Deposits 17 $ 1,037,172,174 915,311,940 Loans payable 18 41,011,330 52,034,942 Reimbursable shares 7,165,090 6,700,221 Corporation tax payable 81,385 - Asset tax payable 7 602,938 1,074,967 Deferred taxation 8 52,180 84,041 Other liabilities 19 12,716,477 10,023,497 Total liabilities 1,098,801,574 985,229,608 Equity Share capital 20 9,407,400 8,763,840 Statutory reserves 21 97,657,847 89,803,786 Other reserves 22 4,412,282 2,772,755 Retained earnings 5,818,862 4,107,620 Total equity 117,296,391 105,448,001 Total Liabilities and Equity $ 1,216,097,965 1,090,677,609 The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on June 8, 2016 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, 2016 With comparative figures as at March 31, 2015 (Expressed in Barbados dollars) Notes 2016 2015 Assets Cash resources 10 $ 128,343,666 108,772,406 Financial investments Held to maturity 11 29,074,183 25,838,462 Available-for-sale 11 2,405,377 2,033,220 Loans and receivables 11 3,550,855 3,112,780 Loans and advances 12 1,001,429,988 906,059,531 Property and equipment 13 31,712,173 30,060,208 Pension plan asset 14 437,778 687,429 Corporation tax recoverable 331,608 363,105 Intangible asset 16 2,910,000 2,910,000 Other assets 15 15,902,337 10,840,468 Total Assets $ 1,216,097,965 1,090,677,609 Liabilities and Equity Liabilities Deposits 17 $ 1,037,172,174 915,311,940 Loans payable 18 41,011,330 52,034,942 Reimbursable shares 7,165,090 6,700,221 Corporation tax payable 81,385 - Asset tax payable 7 602,938 1,074,967 Deferred taxation 8 52,180 84,041 Other liabilities 19 12,716,477 10,023,497 Total liabilities 1,098,801,574 985,229,608 Equity Share capital 20 9,407,400 8,763,840 Statutory reserves 21 97,657,847 89,803,786 Other reserves 22 4,412,282 2,772,755 Retained earnings 5,818,862 4,107,620 Total equity 117,296,391 105,448,001 Total Liabilities and Equity $ 1,216,097,965 1,090,677,609 The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on June 8, 2016 and signed on its behalf by: ............................................................... ..................................................... Glendon Belle Anthony Christie President Treasurer