Consolidated Annual Report 2021

121 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) 99 Details of Consolidated Statement of Financial Position Barbados Public Workers’ Co-operative Credit Union Limited and its Subsidiaries 2021 BPWCCUL BPWFHI CAPITA FSI Eliminations Assets: Cash resources 11 $ 387,713,465 1,703,794 18,188,955 (25,761,523) Financial investments Amortized cost 12 23,643,897 - 4,169,842 - FVOCI 12 2,471,253 - 1,667,249 - Loans and advances 13 1,054,665,219 - 275,474,899 - Property and equipment 14 52,507,345 667,675 8,429,136 - Pension plan asset 15 1,176,257 - - - Corporation tax recoverable - - 326,810 - Other assets 16 55,000,540 22,627,900 4,846,353 (61,620,409) Total Assets $ 1,577,177,976 24,999,369 313,103,244 (87,381,932) BADOS PUBLIC WORKERS’ C -OPERATIVE CREDIT UNION LIMITED o the Consolidated Financial Stateme ts year ended March 31, 2021 ssed in Barbados dollars) 99 of Consolidated Statement of Financial Position os Public Workers’ Co-operativ Credit Union Limited and its Subsidiaries 2021 BPWCCUL BPWFHI CAPITA FSI Eliminations To s: esources 11 $ 387,713,465 1,703,794 18,188,955 (2 ,761,523) 381,844,6 al investments zed cost 12 23,643,897 - 4,169,842 - 27,813,7 12 2,471,253 - 1,667,249 - 4,138,5 and advances 13 1,054,665,219 - 275,474,899 - 1,330,140,1 ty and equipment 14 52,507,345 667,675 8,429,136 - 61,604,1 n plan asset 15 1,176,257 - - - 1,176,2 ation tax recoverable - - 326,810 - 326,8 assets 16 55,000,540 22,627,900 4,846,353 (61,620,409) 20,854,3 Assets $ 1,577,177,976 24,999,369 313,103,244 (87,381,932) 1,827,898,6 I ’ I I I I I t t t li t i i l t t t r t r r , ( r i r ll r ) t il f li t t t t f i i l iti r li r r ’ - r ti r it i it it i i ri I I I li i ti s t : r r , , , , , , ( , , ) i i l i t t rti t , , - , , - I , , - , , - , , , - , , - r p rt i t , 7, , , , - i l t , , - - - r r ti t r r l - - , - t r t , , , , , , ( , , ) t l t , , , , , , , ( , , ) BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Note to the Cons lidated Financial Statements For the year nd d March 31, 2021 (Expressed in Ba bados dollars) 99 Details of C ns lidated Statement of F na cial Positi n Barbados Public Workers’ Co-operative Cred t Union Limited and ts Subsidiaries 2021 BPWCCUL BPWFHI CAPITA FSI Eliminat ons Asset : Ca h resources 11 $ 387,713,465 1,703,794 18,188,955 (25,761,523) Financial investments Amortized cost 12 23,64 ,897 - 4,169,842 - FVOCI 12 2,471,253 - 1,667,249 - Loans and dv nces 13 ,054,665,219 - 275,4 4,899 - Property and equipment 14 52,507,345 667,675 8,429,136 - Pen io plan asset 15 1,176,257 - - - Corporation tax recoverable - - 326,810 - Other assets 16 55,000,540 22,627,900 4,846,353 (61,620,409) Total Assets $ 1,577,177,976 24,999,369 313,103,244 (87,381,93 ) BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2021 (Ex ressed in Barbados dollars) 100 Details of Consolidated Statement of Financial Position Barbados Public Workers’ Co-operative Credit Union Limited and its Subsidiaries 2021 BPWCCUL BPWFHI CAPITA FSI Eliminations Liabilities and Equity: Liabilities Deposits 17 $ 1,374,306,216 - 267,726,827 (25,761,523) Loans payable 18 - - 11,145,960 (9,828,484) Reimbursable shares 14,702,164 - - - Corporation tax payable - - 133,523 - Asset tax payable 8 - - 321,612 - Deferred tax liability 9 - - 68,076 - Other liabilities 19 15,003,210 19,072,723 6,150,259 (19,099,328) Total Liabilities $ 1,404,011,590 19,072,723 285,546,257 (54,689,335) Equity Share capital 20 $ 12,357,000 11,500,000 10,297,059 (21,797,059) Statutory reserves 21 149,395,379 - - 1,146,602 Other reserves 22 7,040,642 - 6,695,826 (3,917,568) Retained earnings 4,373,365 (5,573,354) 10,564,102 (8,124,572) Total Equity 173,166,386 5,926,646 27,556,987 (32,692,597) Total Liabilities and Equity $ 1,577,177,976 24,999,369 313,103,244 (87,381,932) BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Cons lidated Financi l St tements or the year nded March 3 , 2021 (Express d in Barbados dollars) 100 Details of C nsolidate Statement of Financi l Positi n Barbados Public Workers’ Co-operative Credit Union Limited an its Subsidiar es 2021 BPWCCUL BPWFHI CAPITA FSI Eliminations Liabilities and Equity: Liabilities Deposits 17 $ 1,374 06 21 - 267,726,8 7 (25,761,523) Loans payable 18 - - 11,145,960 (9,828,484) Reimbursable shares 14,702 164 - - - Corporati n ax p yable - - 133,52 - Asset tax p yable 8 - - 321,612 - Deferred tax li bil ty 9 - - 68,076 - Other liabi ties 19 15,003,210 19,072,723 6,150,2 9 (19,099,328) Total Li bilities $ 1,404 011,590 19,072,723 285,546 257 (54,689 335) Equity Share capital 20 $ 12,357,000 11,500,0 10,297,059 (21,797,059) Statutory rese ves 21 149,395 379 - - 1,146,602 Other rese ves 22 7,040 6 2 - 6,695,826 (3,917,568) Retained earnings 4,373, 65 (5,573,354) 10,564,102 (8,124,572) Total Equity 173, 66,38 5,926,64 27,556,987 (32,692,597) Total Liabilities and Equity $ 1,577 177,976 24,999,36 313,103 244 (87,3 1 932) ARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION L MITED tes to th Consolidated F n ncial Statemen s r the y ar ended March 31, 2021 xpressed in Barbados dollars) 99 tails f Con olidated Statement of Fin ncial Posit o rbados Public W rkers’ Co-operative C edit Union Lim ed and its Subs diaries 2021 BPWCCUL BPWFHI CAPITA FSI Elim nations sets: sh resource 11 $ 387,713,465 1,703,794 18 188,955 (25 761,523) 381 8 ncial investments mortized cost 12 23 643,897 - 4 169,8 2 - 27 8 OCI 12 2 471,253 - 1 667,249 - 4 1 ans and dv ces 13 1 054 665,2 9 - 275 474,899 - 1 330 operty and equipme t 14 52 507,345 667,675 8 429,136 - 61 6 sion plan as et 15 1 176,257 - - - 1 1 rpora i n tax recoverable - - 326,810 - 3 her a sets 16 55,00 ,540 22 627,900 4 846,353 (61 620,409) 20 8 tal Assets $ 1 5 7 177,976 24 99 ,369 313 103,244 ( 7 381,932) 1 827 8 ARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED tes to the Con olidated Financial Statemen s r the year ended March 3 , 2021 xpressed in Barbados dollars) 100 tails of Consolidated Statement of Financial Pos t on rbados Public W rkers’ Co-operative C edit Union Limited and its Subs diar es 2021 BPWCCUL BPWFHI CAPITA FSI Eliminations bilities and Equity: bilities posits 17 $ 1,374,306,2 6 - 267,726,827 (25,761,523) 1,616,27 ans pay ble 18 - - 11,145,960 (9,828,484) 1,31 mbursable shares 14,702, 64 - - - 14,70 rporati n tax ayable - - 133,523 - 13 set tax payable 8 - - 321,612 - 32 ferred tax liability 9 - - 68,076 - 6 her liabilities 19 15,003,210 19,072,723 6,150,259 (19,099,328) 21,12 tal Liabilities $ 1,404,011,590 19,072,723 285,546,257 (54,689,335) 1,6 3,9 uity are capital 20 $ 12,357,000 11,500,000 10,297,059 (21,797,059) 12,35 tutory reserves 21 149,395,379 - - 1,146,602 150,54 her reserves 22 7,040,642 - 6,695,826 (3,917,568) 9,81 tained r ings 4,373,365 (5,573,3 4) 10,564, 2 (8,124,572) 1,23 tal Equi y 173,166,386 5,926,646 27,556,987 (32,692,597) 1 3,95 tal Liabilities and Equity $ 1,577,177,976 24,999,369 313,103,244 (87,381,932) 1,8 7,8 ADOS PUBLIC WORKERS’ CO-OP ATIVE CREDIT UNIO LIMITED the Consolidated Financ al St teme ts year ended March 31, 2021 ed in Barbados dollars) 9 of Consolidated S atemen of Financ al Posit on s Public Workers’ Co-ope ativ redit Union Limited and its Subsidiaries 2021 BPWC UL BPWFHI CAP T FSI Eliminatio s Tota sources 1 $ 387,713,465 1,703,794 18,18 ,95 (25,761,523) 381,84 ,69 l investments ed cost 12 23,643,897 - 4,169,842 - 27,813,73 12 2,47 ,253 - 1,6 7,249 - 4,138,50 nd advances 13 1,054,6 5,219 - 275,474,89 - 1,3 0,140,1 and equipment 14 52,507,345 6 7,675 8,429,136 - 61,604,15 plan asset 15 1,176,257 - - - 1,176,25 tion tax ecoverabl - - 326,810 - 326,81 ssets 16 5 ,0 ,54 2 ,627,90 4,846,353 (61,620,409) 20,854,38 s ets $ 1,57 ,17 ,976 24,9 ,36 313,103,24 (87,381,932) 1, 27,898,65 ADOS PUBLIC WORKERS’ CO-OPERATIVE CR DIT UNION LIMITED the Co solidated Financ al Stateme ts year ended March 3 , 021 sed in Barbados dollars) 100 f Consolidated S atemen of Financ al Position s Public Wo kers’ Co-operativ redit Union Limited and its Sub idiaries 2021 BPWCCUL BPWFHI CAP T FSI Eliminatio s Tota es and Equity: es 17 $ 1,374,306,216 - 267,7 ,827 (25, 61,523) 616,27 ,5 yable 18 - - 11,145,960 (9,828,4 4) 1,317,47 sa le shar 14,702,164 - - - 14,702,16 ion tax pay ble - - 133,52 - 133,52 x payable 8 - - 321,61 - 321,61 tax liability 9 - - 68,07 - 68,07 bilities 19 5,003,21 19, 72,723 6,150,259 (19,099,328) 1,1 6,86 abilities $ 1,404,011,590 19, 72,723 85,546,2 7 (54,689,335) 1,653,941,23 pital 20 $ 12,357,000 11,500,00 10,297,05 (21,797,05 ) 12,357,00 y reserv 21 149,395,37 - - 1,146,602 150,541,98 s v 22 7,040,642 - 6,695,826 (3,917,568) 9,81 ,90 d earnings 4,373,365 (5, 73,3 4) 10,564,102 (8,124,57 ) 1,239,54 quity 173,166,38 5,926,646 27,556,987 (32,692,597) 173,95 ,42 abilities nd Equity $ 1,577,17 ,976 24,999,36 31 ,103,244 (87,381,932) 1,827,898,65 S PUBLIC WORKERS’ CO-OPERATIVE CR DIT UNION LIMITED on olidat d Financial St temen s ded Ma ch 31, 2021 Ba bados dolla s) 99 olidated Sta men of Financial Position c Workers’ Co-operative Cred t Union Lim ted and its Subsidiari s 2021 BPWCCUL BPWFHI CAPITA S Eliminations Total s 11 $ 387,71 ,465 1, 03,794 18,188,955 (25,761,523) 381,844,69 me ts 12 23,643,897 - 4,169,8 2 - 27,813,739 12 2,471, 53 - 1,667,249 - 4,138,502 ces 13 1,054,665,219 - 275,474,899 - 1,330,140,118 quipment 14 52,507,345 66 ,67 8,429,136 - 61,604,15 s et 15 1,176,257 - - - 1,176,257 recoverable - - 326,810 - 326,810 16 55,000,54 22 627,90 4 846 353 (61,620,409) 20,85 ,384 $ 1,577,177,9 6 24,9 9,369 313 10 44 (87,381,932) 1,8 7,89 ,657 S PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED nsolidat d Fina cial Statements ded Ma ch 31, 2021 Ba bados dollar ) 100 olidated St ment of Financial Position c Workers’ Co-operative Credit Union Lim ted and s Subsidiari 2021 BPWCCUL BPWFHI CAPITA S Eliminations Total Equ ty: 17 $ 1,374,306,2 6 - 267,726,82 (25 61 5 3) 1,616,271,520 18 - 11,145,960 (9 828 484) 1,317,476 h res 14,702,164 - 14,702,164 ay ble - 133,523 - 133,523 ble 8 - 321,612 - 321,612 bility 9 - 68,076 - 68,076 19 15,003,21 9 72,723 6 150 259 (19 099 328) 21,126,864 s $ 1,404,0 1,59 19,072,723 285 546,2 7 (54,689,335) 1,6 3,941,2 5 20 $ 12,357,000 1 500, 0 0 297, 59 (21 7 9) 2,35 ,00 ves 21 149,395,379 - 1,146,602 150,54 ,981 22 7,040,642 - 6,695,82 (3 917 568) ,818,900 ngs 4,373,365 (5 5 3 4) 10 64,1 2 (8 12 572) ,239,541 173,166,386 5 92 646 7 55 ,987 (32 692 597) 1 3,957,422 s and Equity $ 1,577,177,9 6 24,9 9,36 313 10 ,244 (87,381,932) 1,8 7,89 ,657 PU LIC WORKERS’ C -OPERATIV CREDI UNION LIM TED lida ed Financi l Statements M rch 31, 2021 ados d lla s) 9 ated Sta ement of Financial Pos tion orker ’ Co- perative Credit Union Limited and its Subsidiar es 2021 BPWCCUL BPWFHI CAPITA S Eliminations Total 11 $ 387,713,465 1, 03,794 18 188,955 (25 761,523) 381,844,691 nt 12 3,643,897 - 4,169,842 - 27,813,739 12 2,471,253 - 1,667,249 - 4,138,502 es 13 1,054,665,219 - 275,4 4,899 - 1,330,140, 18 m nt 14 52,507,345 66 ,6 8,429 136 - 61,604,156 15 1,176,257 - 1,176,257 over ble - 326,810 - 326,810 16 55,000,540 22,627,90 4 846,353 (61 620 409) 20,854,384 $ 1,577,1 7,9 6 24 999,369 313 103,244 (87 381 932) 1,8 7,89 ,657 UBLIC WORKERS’ C -OPERATIV CREDI UNION LIMITED lida ed Financial Statements March 3 , 2021 ados dollars) 100 ted Sta ement of Fina cial Position orkers’ Co- perative Credit Union Limited and its Subs diaries 2021 BPWCCUL BPWFHI CAPITA S Eliminat ons Total uity: 17 $ 1,3 4, 06,216 - 267,726,8 7 (25 761 5 3) 1,616, 71, 20 18 - 11,145,960 (9 828 484) 1,317,476 es 14,702,164 - 14,702,164 able - 133,52 - 133,52 8 - 321,612 - 321,612 y 9 - 68,076 - 68,076 19 15,003,210 9 72 723 6 150 259 (19 099 328) 21,126,864 $ 1,404,011,590 19 72 723 285 546 257 (54 6 9 335) 1,65 ,941,235 20 $ 12,357, 00 1 500 0 297 59 (21 7 ) 12,357,00 21 149,395, 79 - 1,146,602 150,541,98 22 7,040,6 2 - 6,695,826 (3 917 568) 9,818,900 4,373, 65 (5 57 54) 10 64 102 (8 12 57 ) 1,239,541 173, 66,386 5 92 64 27 55 987 (32 692 597) 173, 57,422 d Equity $ 1,577,177,976 24 999 369 313 103 244 (87 381 932) 1,827,898,657

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