Non-Consolidated Annual Report 2016

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED NON-CONSOLIDATED ANNUAL REPORT 2016 56 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2016 (Expressed in Barbados dollars) 40 22. Related Party Disclosures, continued Transactions with key management personnel, continued The following table provides the total amount of balances held with related parties for the relevant financial year. 2016 2015 Key management personnel: Loans and advances $ 2,044,956 2,140,745 Deposits 1,569,400 862,959 The secured loans and advances are secured over property of the respective borrowers. Other balances are not secured and no guarantees have been obtained. No impairment losses have been recorded against balances outstanding during the period with key management personnel, and no specific allowance has been made for impairment losses on balances with key management personnel and their related concerns at the period end. Due from related companies 2016 2015 Due from BPW Financial Holdings Inc. $ 17,200,255 17,339,733 Due from Capita Financial Services Inc. 66,138 85,541 Due from Capita Insurance Brokers Inc. 41,221 - $ 17,307,614 17,425,274 Amounts due from related companies are unsecured, non-interest bearing and have no fixed terms of repayment. Other transactions Cash resources include deposits held with Capita Financial Services Inc. amounting to $16,245,300 (2015 - $19,523,136) which resulted in interest income of $544,754 (2015 - $625,760).