Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 28 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2019 (Expressed in Barbados dollars) 13 2. Accounting Policies, continued b) New standards, amendments and interpretations mandatory for the first time for the financial year, continued The table below explains the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 for each class of the Group’s financial assets and financial liabilities as at April 1, 2018. The effect of adopting IFRS 9 on the carrying amounts of financial assets at April 1, 2018 relates solely to the new impairment requirements. Classification under IAS 39 Classification under IFRS 9 Carrying Amount under IAS 39 Carrying Amount under IFRS 9 Financial Assets Cash and cash equivalents Loans and receivable Amortized cost 118,649,884 118,649,884 Term deposits Loans and receivable Amortized cost 12,764,789 12,757,776 Term deposits Held to maturity Amortized cost 25,473,494 25,465,644 Sovereign debt securities Held to maturity Amortized cost 25,993,354 23,699,503 Sovereign debt securities Loans and receivable Amortized cost 3,958,401 3,616,251 Equities securities Available for sale FVOCI 1,941,595 1,941,595 Equities securities FVTPL FVTPL 778,079 778,079 Other assets Loans and receivables Amortized cost 11,501,929 11,501,929 Loans and advances Loans and receivables Amortized cost 1,174,576,465 1,174,111,601 Total financial assets 1,375,637,990 1,372,522,262 Financial Liabilities Deposits Amortized cost Amortized cost 1,259,922,245 1,259,922,245 Reimbursable shares Amortized cost Amortized cost 9,761,121 9,761,121 Loans payable Amortized cost Amortized cost 15,229,798 15,229,798 Other liabilities Amortized cost Amortized cost 13,069,238 13,069,238 Total financial liabilities 1,297,982,402 1,297,982,402