25 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2020 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED 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 10,705,800 121,093,797 5,853,506 6,689,177 144,342,280 Net income - - - 10,744,154 10,744,154 Other comprehensive income - - (1,317,968) - (1,317,968) Issue of shares 800,640 - - - 800,640 Redemption of shares (105,840) - - - (105,840) Transfer to statutory reserves 22 - 13,567,127 - (13,567,127) - Entrance fees 22 - 33,360 - - 33,360 Transfer to special reserves 23 - - 1,108,766 (1,108,766) - Special reserves released to retained earnings 23 - - (1,002,715) 1,002,715 - Reserve for interest on non-performing loans 23 - - 261,407 (261,407) - Distributions to members 10 - - - (3,361,215) (3,361,215) At March 31, 2019 $ 11,400,600 134,694,284 4,902,996 137,531 151,135,411 Impact of IFRS 16 implementation 2(b) - - - (96,402) (96,402) Adjusted balance as at April 1, 2019 11,400,600 134,694,284 4,902,996 41,129 151,039,009 Net income - - - 18,394,685 18,394,685 Other comprehensive income - - 667,933 - 667,933 Issue of shares 732,120 - - - 732,120 Redemption of shares (124,320) - - - (124,320) Transfer to statutory reserves 22 - 7,637,941 - (7,637,941) - Entrance fees 22 - 30,505 - - 30,505 Transfer to special reserves 23 - - 1,127,129 (1,127,129) - Special reserves released to retained earnings 23 - - (860,300) 860,300 - Reserve for interest on non-performing loans 23 - - 2,855,708 (2,855,708) - Distributions to members 10 - - - (3,574,873) (3,574,873) At March 31, 2020 $ 12,008,400 142,362,730 8,693,466 4,100,463 167,165,059 The accompanying notes form an integral part of these consolidated financial statements.
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