Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2019 51 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) 36 9. Taxation, continued The accumulated losses for tax purposes which may be carried forward and set off against future taxable income as follows: St. Lucia Branch Year of Losses Losses Expiry Loss B/fwd Incurred Utilised Expired C/fwd Date 2013 $ 45,750 - - (45,750) - 2019 2017 43,572 - - - 43,572 2023 2018 107,650 - - - 107,650 2024 2019 - 113,759 - - 113,759 2025 $ 196,972 113,759 - (45,750) 264,981 BPW Financial Holdings Inc. Year of Losses Losses Expiry Loss B/fwd Incurred Utilised Expired C/fwd Date 2015 564,677 - - - 564,677 2022 2016 637,807 - - - 637,807 2023 2017 106,028 - - - 106,028 2024 2018 157,403 - - - 157,403 2025 2019 - 160,171 - - 160,171 2026 $ 1,465,915 160,171 - - 1,626,086 These losses are as computed by the subsidiary in its corporation tax returns and have as yet neither been confirmed nor disputed by the tax authorities. 10. Distributions to Members Distributions to members include a dividend of $0.231 (2018 - $0.246) per share amounting to $511,058 (2018 - $479,140) and interest rebate amounting to $2,850,157 (2018 - $2,748,966).