BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | NON-CONSOLIDATED ANNUAL REPORT 2020 93 BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED Notes to the Non-consolidated Financial Statements For the year ended March 31, 2020 (Expressed in Barbados dollars) 76 24. Fair Value, continued 2019 Total Level 1 Level 2 Level 3 balance Investment securities Equity securities - FVOCI - quoted $ 1,705,000 - - 1,705,000 - FVOCI - unquoted - - 884,496 884,496 1,705,000 - 884,496 2,589,496 The following table shows a reconciliation of all movements in the fair value of financial investments categorised within Level 1 between the beginning and end of the reporting period. 2020 2019 Balance - beginning of year $ 1,705,000 1,470,000 Unrealised (loss) gain (155,000) 235,000 Balance - end of year $ 1,550,000 1,705,000 The following table shows a reconciliation of all movements in the fair value of financial investments categorised within Level 3 between the beginning and end of the reporting period. 2020 2019 Balance - beginning of year $ 884,496 778,079 Unrealised gain 506,356 - Purchases 24,390 106,417 Balance - end of year $ 1,415,242 884,496 There were no transfers in or out of Level 3 during the year ended March 31, 2020 (2019 - $NIL). The financial investments classified as Level 3 securities are carried at cost as fair value cannot be reliably estimated. Therefore no significant unobservable inputs have been considered in determining its value. The application of sensitivity analysis is therefore not relevant.
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