117 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2021 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Expressed in Barbados dollars) 94 26. Fair Value, continued Level 3: techniques which use inputs which have a significant effect on the recorded fair value that are not based on observable market data. If one or more of the significant inputs is not based on observable market data, the instrument is included in Level 3. The following table presents the Group’s financial instruments that are measured at fair value. 2021 Total Level 1 Level 2 Level 3 Balance Investment securities Equity securities - FVOCI - quoted $ 329,276 890,000 - 1,219,276 - FVOCI - unquoted - - 2,919,226 2,919,226 $ 329,276 890,000 2,919,226 4,138,502 2020 Total Level 1 Level 2 Level 3 balance Investment securities Equity securities - FVOCI - quoted $ 87,849 1,550,000 - 1,637,849 - FVOCI - unquoted - - 1,733,807 1,733,807 $ 87,849 1,550,000 1,733,807 3,371,656 The following table below 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. 2021 2020 Balance - beginning of year $ 1,733,807 1,203,061 Unrealised gain 1,160,569 506,356 Purchases 24,850 24,390 Balance – end of year $ 2,919,226 1,733,807 There were no transfers in or out of Level 3 during the year ended March 31, 2021 (2020: NIL).
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