Consolidated Annual Report 2020

BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 24 BARBADOS PUBLIC WORKERS’ CO -OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Financial Position As at March 31, 2020 With comparative figures as at March 31, 2019 (Expressed in Barbados dollars) Assets Notes 2020 2019 Cash resources Financial investments: Amortized cost 11 12 $ 308,160,914 22,024,523 252,492,100 22,529,971 FVOCI 12 3,371,656 3,061,754 Loans and advances 13 1,311,850,864 1,235,759,895 Property and equipment 14 61,851,874 59,772,033 Pension plan asset 15 1,032,311 577,288 Corporation tax recoverable 326,788 313,104 Other assets 16 18,172,501 17,586,217 Total Assets $ 1,726,791,431 1,592,092,362 Liabilities and Equity Liabilities Deposits 18 $ 1,527,678,285 1,400,074,381 Loans payable 19 1,341,586 13,520,176 Reimbursable shares 13,229,324 12,289,404 Corporation tax payable 131,881 - Asset tax payable 8 314,378 391,611 Deferred taxation 9 66,052 60,327 Other liabilities 20 16,864,866 14,621,052 Total liabilities 1,559,626,372 1,440,956,951 Equity Share capital 21 12,008,400 11,400,600 Statutory reserves 22 142,362,730 134,694,284 Other reserves 23 8,693,466 4,902,996 Retained earnings 4,100,463 137,531 Total equity 167,165,059 151,135,411 Total Liabilities and Equity $ 1,726,791,431 1,592,092,362 The accompanying notes form an integral part of these consolidated financial statements. Approved by the Board of Directors on September 4, 2020 and signed on its behalf by: ............................................................... ..................................................... Glendon Belle Troy White President Treasurer 7

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