Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 31 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) 16 2. Accounting Policies, continued b) New standards, amendments and interpretations mandatory for the first time for the financial year, continued IAS 39 IFRS 9 carrying carrying amount Re- Re- amount March 31, 2018 classification measurement April 1, 2018 Financial assets Amortized cost : Cash and equivalents Opening balance $ - - - - From loans and receivables - 118,649,884 - - Closing balance - - - 118,649,884 Term deposits Opening balance - - - - From held to maturity - 25,473,494 - - From loans and receivables - 12,764,789 - - Remeasurement - - (14,863) - Closing balance - - - 38,223,420 Loans and advances Opening balance - - - - From loans and receivables - 1,174,576,465 - - Remeasurement - - (464,864) - Closing balance - - - 1,174,111,601 Sovereign debt securities Opening balance - - - - From held to maturity - 25,993,354 - - From loans and receivables - 3,958,401 - - Remeasurement - - (2,636,001) - Closing balance - - - 27,315,754 Other assets Opening balance - - - - From loans and receivables - 11,501,929 - - Closing balance - - - 11,501,929 Total amortized cost $ - 1,372,918,316 (3,115,728) 1,369,802,588