Consolidated Annual Report 2018

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2018 23 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Changes in Equity For the year ended March 31, 2018 With comparative figures for 2017 (Expressed in Barbados dollars) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings Total At March 31, 2016 $ 9,407,400 97,657,847 4,412,282 5,818,862 117,296,391 Net income - - - 15,952,882 15,952,882 Other comprehensive income - - 1,275,254 - 1,275,254 Issue of shares 774,240 - - - 774,240 Redemption of shares (97,920) - - - (97,920) Transfer to statutory reserves 21 - 9,997,149 - (9,997,149) - Entrance fees 21 - 32,260 - - 32,260 Transfer to special reserves 22 - - 756,274 (756,274) - Special reserves released to retained earnings 22 - - (820,791) 820,791 - Reserve for interest on non-performing loans 22 - - 185,242 (185,242) - Distributions to members 9 - - - (2,636,325) (2,636,325) At March 31, 2017 $ 10,083,720 107,687,256 5,808,261 9,017,545 132,596,782 Net income - - - 17,367,004 17,367,004 Other comprehensive income - - 69,828 - 69,828 Issue of shares 730,080 - - - 730,080 Redemption of shares (108,000) - - - (108,000) Transfer to statutory reserves 21 - 13,376,121 - (13,376,121) - Entrance fees 21 - 30,240 - - 30,420 Transfer to special reserves 22 - - 692,398 (692,398) - Special reserves released to retained earnings 22 - - (939,102) 939,102 - Reserve for interest on non-performing loans 22 - - 222,121 (222,121) - Distributions to members 9 - - - (3,228,106) (3,228,106) At March 31, 2018 $ 10,705,800 121,093,797 5,853,506 9,804,905 147,458,008 The accompanying notes form an integral part of these consolidated financial statements.