Non-Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 25 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Non-consolidated Statement of Changes in Equity For the year ended March 31, 2020 With comparative figures for 2019 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserves reserves earnings Total At April 1, 2018 10,705,800 120,529,279 5,518,875 9,465,638 146,219,592 Net income - - - 11,962,207 11,962,207 Other comprehensive loss - - (1,313,205) - (1,313,205) Issue of shares 800,640 - - - 800,640 Redemption of shares (105,840) - - - (105,840) Transfer to statutory reserves 19 - 13,496,000 - (13,496,000) - Entrance fees 19 - 33,360 - - 33,360 Transfer to special reserves 20 - - 1,108,766 (1,108,766) - Special reserves released to retained earnings 20 - - (1,002,715) 1,002,715 - Net reserve for interest on non- performing loans 20 - - 261,407 (261,407) - Distributions to members 8 - - - (3,361,215) (3,361,215) At March 31, 2019 11,400,600 134,058,639 4,573,128 4,203,172 154,235,539 Impact of IFRS 16 implementation 2(b) - - - (110,262) (110,262) At April 1, 2020 11,400,600 134,058,639 4,573,128 4,092,910 154,125,277 Net income - - - 17,091,949 17,091,949 Other comprehensive income - - 682,929 - 682,929 Issue of shares 732,120 - - - 732,120 Redemption of shares (124,320) - - - (124,320) Transfer to statutory reserves 19 - 7,363,561 - (7,363,561) - Entrance fees 19 - 30,505 - - 30,505 Transfer to special reserves 20 - - 1,127,129 (1,127,129) - Special reserves released to retained earnings 20 - - (860,300) 860,300 - Net reserve for interest on non performing loans 20 - - 1,975,929 (1,975,929) - Distributions to members 8 - - - (3,574,873) (3,574,873) At March 31, 2020 $ 12,008,400 141,452,705 7,498,815 8,003,667 168,963,587 The accompanying notes form an integral part of these non-consolidated financial statements.