Non-Consolidated Annual Report 2019

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2019 24 9 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Cash Flows For the year ended March 31, 2019 With comparative figures for 2018 (Expressed in Barbados dollars) Notes 2019 2018 Cash Flows from Operating Activities Net income for the year $ 11,962,207 16,596,697 Adjustments for: Depreciation 4,801,208 4,593,878 Expected credit loss (2018 - impairment loss) 3,770,600 6,535,134 Loss on derecognition of investments 10 (ii) 3,634,651 - Gain on disposal of property and equipment - (40,300) Interest income (89,383,131) (86,589,366) Interest expense 26,140,047 25,150,936 Dividend income (138,376) (101,022) Impairment loss on subsidiary 1,307,400 - (37,905,394) (33,854,043) (42,167,360) (63,738,123) (317,172) (211,776) (239,843) (2,837,775) 119,242,657 100,033,747 2,528,283 1,885,646 (681,089) 1,806,207 702,828 1,703,912 41,162,910 4,787,795 88,869,648 86,164,828 (26,226,219) (25,472,621) 103,806,339 65,480,002 4,904,963 5,059,191 (3,688,527) (18,647,606) - 40,300 Changes in operating assets and liabilities Increase in loans and advances Increase in pension plan asset Increase in other assets Increase in deposits Increase in reimbursable shares (Increase) decrease in due from related companies Increase in other liabilities Net cash from operations Interest received Interest paid Net cash from operating activities Cash Flows from Investing Activities Net de crease in financial investments Purchase of property and equipment Proceeds from sale of property and equipment Dividends received 138,376 101,022 Net cash from (used in) investing activities $ 1,354,812 (13,447,093)