Non-Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2016 21 5 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-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 81,723,453 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- performing loans 21 - - 429,853 (429,853) - Distributions to members 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 Net income - - - 13,542,727 13,542,727 Other comprehensive income - - 30,282 - 30,282 Issue of shares 727,200 - - - 727,200 Redemption of shares (83,640) - - - (83,640) Transfer to statutory reserves 20 - 7,722,156 - (7,722,156) - Entrance fees 20 - 30,300 - - 30,300 Transfer to special reserves 21 - - 932,111 (932,111) - Special reserves released to retained earnings 21 - - (601,893) 601,893 - Net reserve for interest on non- performing loans 21 - - 1,278,967 (1,278,967) - Distributions to members 8 - - - (2,038,109) (2,038,109) At March 31, 2016 $ 9,407,400 97,245,033 4,424,898 7,764,404 118,841,735 The accompanying notes form an integral part of these non-consolidated financial statements.