Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED CONSOLIDATED ANNUAL REPORT 2016 18 6 BARBADOS PUBLIC WORKERSʼ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Changes in Equity For the year ended March 31, 2016 With comparative figures for 2015 (Expressed in Barbados dollars) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings Total At March 31, 2014 $ 8,240,280 81,891,199 1,907,154 4,564,239 96,602,872 Net income - - - 9,641,557 9,641,557 Other comprehensive income - - 614,164 - 614,164 Issue of shares 584,280 - - - 584,280 Redemption of shares (60,720) - - - (60,720) Transfer to statutory reserves 21 - 7,888,242 - (7,888,242) - Entrance fees 21 - 24,345 - - 24,345 Transfer to special reserves 22 - - 887,398 (887,398) - Special reserves released to retained earnings 22 - - (1,065,814) 1,065,814 - Reserve for interest on non-performing loans 22 - - 429,853 (429,853) - Distributions to members 9 - - - (1,958,497) (1,958,497) At March 31, 2015 8,763,840 89,803,786 2,772,755 4,107,620 105,448,001 Net income - - - 13,182,297 13,182,297 Other comprehensive income - - 30,342 - 30,342 Issue of shares 727,200 - - 727,200 Redemption of shares (83,640) - - - (83,640) Transfer to statutory reserves 21 - 7,823,761 - (7,823,761) - Entrance fees 21 - 30,300 - - 30,300 Transfer to special reserves 22 - - 932,111 (932,111) - Special reserves released to retained earnings 22 - - (601,893) 601,893 - Reserve for interest on non-performing loans 22 - - 1,278,967 (1,278,967) - Distributions to members 9 - - - (2,038,109) (2,038,109) At March 31, 2016 $ 9,407,400 97,657,847 4,412,282 5,818,862 117,296,391 The accompanying notes form an integral part of these consolidated financial statements.