Non-Consolidated Annual Report 2017

23 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2017 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Changes in Equity For the year ended March 31, 2017 With comparative figures for 2016 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserves reserves earnings Total 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 Net income - - - 16,016,500 16,016,500 Other comprehensive income - - 938,351 - 938,351 Issue of shares 774,240 - - - 774,240 Redemption of shares (97,920) - - - (97,920) Transfer to statutory reserves 20 - 9,929,698 - (9,929,698) - Entrance fees 20 - 32,260 - - 32,260 Transfer to special reserves 21 - - 756,274 (756,274) - Special reserves released to retained earnings 21 - - (820,791) 820,791 - Net reserve for interest on non- performing loans 21 - - 185,242 (185,242) - Distributions to members 8 - - - (2,636,325) (2,636,325) At March 31, 2017 $ 10,083,720 107,206,991 5,483,974 11,094,156 133,868,841 The accompanying notes form an integral part of these non-consolidated financial statements.