Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 23 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Changes in Equity For the year ended March 31, 2019 With comparative figures for 2018 (Expressed in Barbados dollars) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings Total 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 22 - 13,376,121 - (13,376,121) - Entrance fees 22 - 30,420 - - 30,420 Transfer to special reserves 23 - - 692,398 (692,398) - Special reserves released to retained earnings 23 - - (939,102) 939,102 - Reserve for interest on non-performing loans 23 - - 222,121 (222,121) - Distributions to members 10 - - - (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 Impact of IFRS 9 implementation 2(b) - - - (3,115,728) (3,115,728) At April 1, 2018 10,705,800 121,093,797 5,853,506 6,689,177 144,342,280 Net income - - - 10,744,154 10,744,154 Other comprehensive income - - (1,317,968) - (1,317,968) Issue of shares 800,640 - - - 800,640 Redemption of shares (105,840) - - - (105,840) Transfer to statutory reserves 22 - 13,567,127 - (13,567,127) - Entrance fees 22 - 33,360 - - 33,360 Transfer to special reserves 23 - - 1,108,766 (1,108,766) - Special reserves released to retained earnings 23 - - (1,002,715) 1,002,715 - Reserve for interest on non-performing loans 23 - - 261,407 (261,407) - Distributions to members 10 - - - (3,361,215) (3,361,215) At March 31, 2019 $ 11,400,600 134,694,284 4,902,996 137,531 151,135,411 The accompanying notes form an integral part of these consolidated financial statements.