Consolidated Annual Report 2021

123 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) 103 Details of Consolidated Statement of Financial Position Barbados Public Workers’ Co-operative Credit Union Limited and its Subsidiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations Assets: Cash resources 11 $ 294,902,050 746,771 25,555,432 (13,043,339) Financial investments: Amortized cost 12 18,236,072 - 3,785,761 2,690 FVOCI 12 2,965,242 - 406,414 - Loans and advances 13 1,046,080,071 - 265,770,793 - Property and equipment 14 53,772,132 882,484 7,197,258 - Pension plan asset 15 1,032,311 - - - Corporation tax recoverable - - 326,788 - Other assets 16 55,724,434 22,500,000 4,049,140 (64,101,073) Total Assets $ 1,472,712,312 24,129,255 307,091,586 (77,141,722) 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) 104 Details of Consolidated Statement of Financial Position Barbados Public Workers’ Co-operative Credit Union Limited and its Subsidiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations Liabilities and Equity: Liabilities Deposits 17 $ 1,279,597,696 - 263,623,928 (15,543,339) Loans payable 18 - - 12,282,195 (10,940,609) Reimbursable shares 13,229,324 - - - Corporation tax payable - - 131,881 - Asset tax payable 8 - - 314,378 - Deferred tax liability 9 - - 66,052 - Other liabilities 19 10,921,705 18,125,810 5,791,311 (17,973,960) Total Liabilities $ 1,303,748,725 18,125,810 282,209,745 (44,457,908) Equity Share capital 20 $ 12,008,400 11,500,000 10,297,059 (21,797,059) Statutory reserves 21 141,452,705 - - 910,025 Other reserves 22 7,498,815 - 5,366,854 (4,172,203) Retained earnings 8,003,667 (5,496,555) 9,217,928 (7,624,577) Total Equity 168,963,587 6,003,445 24,881,841 (32,683,814) Total Liabilities and Equity $ 1,472,712,312 24,129,255 307,091,586 (77,141,722) BADOS PU LIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED o the Consolidated Fina cial Statements year ended March 31, 2021 ssed in Barbados dollars) 103 of Consolid ted Statement of Financial Position dos Public Worker ’ Co-operative Credit Union Limited and its Subsidiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations To s: esources 11 $ 294,902,050 746,771 25,555,432 (13,043,339) 08,160,9 ial investments: zed cost 12 18,236,072 - 3,785,761 2,690 22, 24,5 12 2,965,242 - 406,414 - 3,371,6 and advances 13 1,046,080,071 - 265,770,793 - 1,311,850,8 ty and equipment 14 53,772,132 882,484 7,197,258 - 61,851,8 n plan asset 15 1,032,311 - - - 1,032,3 ation tax recoverable - - 326,788 - 326,7 assets 16 55,724,434 22,500,000 4,049,140 (64,101,073) 18,172,5 Assets $ 1,472,712,312 24,129,255 307,091,586 (77,141,722) 1,726,791,4 ARBADOS PUBLIC WORKERS’ CO-OPERATIV CREDIT UNION LIM TED otes to the Consolidated Financial Statements r the year end d March 31, 2021 xpressed in Barbados dollars) 104 etails of Consolidated Statement of Financial Position arbados Public Workers’ Co-ope ative Credit Union Limited and its Subsidiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations abilities and Equity: abilities eposits 17 $ 1,279,597,696 - 263,623,928 (15,543,339) 1,527,6 ans payable 18 - - 12,282,195 (10,940,609) 1,3 eimbursable sha es 13,229,324 - - - 13,2 orporation tax payable - - 131,881 - 1 set tax payable 8 - - 314,378 - 3 eferred tax liability 9 - - 66,052 - her liabilities 19 10,921,705 18,125,810 5,791,311 (17,973,960) 16,8 otal Liabilities $ 1,303,748,725 18,125,810 282,209,745 (44,457,908) 1,559,6 quity hare capital 20 $ 12,008,400 11,500,000 10,297,059 (21,797,059) 12,0 atutory reserves 21 141,452,705 - - 910,025 142,3 her reserves 22 7,498,815 - 5,366,854 (4,172,203) 8,6 etained earnings 8,003,667 (5,496,555) 9,217,928 (7,624,577) 4,1 otal Equity 168,963,587 6,003,445 24,881,841 (32,683,814) 167,1 otal Liabilities and Equity $ 1,472,712,312 24,129,255 307,091,586 (77,141,722) 1,726,7 ARBADOS PUBLIC WORKERS’ CO-OPERATIV CREDIT UNION LIMITED otes to the Consoli ated Financi l Statements r the year end d March 31, 2021 xpressed in Barbados dollars) 103 etails of Consoli ated Statement of Financial Position arbados Public Workers’ Co-ope ative Cred t Union Limite and its Subsi iaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations sets: ash resources 11 $ 294 902,050 46,771 2 555,432 (1 043,339) 308 1 nancial investments: mortized cost 12 18 236,072 - 3 85,761 2,690 2 0 VOCI 12 2 965,242 - 06,414 - 3 3 ans and advances 13 1 46 80,071 - 265 70,793 - 311 operty and equipment 14 53 77 ,132 8 2,484 197,258 - 6 ension plan a set 15 1 032,311 - - - 1 0 orporation tax recoverable - - 326,788 - 3 her assets 16 55 724,434 22,5 0,000 4 0 9,140 (64 101,073) 18 1 otal A sets $ 1 47 7 ,312 4 129,255 307 091,586 (77 141,722) 1 26 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIV CREDIT UNION LIMITED Notes o the Cons lidated Financi l Statem nts For the year end d March 31, 2021 (Expressed in Barbados d llars) 104 Details of Consolidated Statement of Financ al Positi n Barbados Public Workers’ Co-operative Credit Union Limited and its Sub idiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations Liabilities and Equity: Liabilities Deposits 17 $ 1,27 ,5 7,696 - 263,623,928 (15,543,339) Loans payable 18 - - 2,282,195 (10, 40,609) Reimbursable shares 13,229,324 - - - Corp ration tax payable - - 31,881 - Asset tax payable 8 - - 314,378 - Deferred tax liability 9 - - 66,052 - Other liabilities 19 1 ,921,705 18,125,810 5,791,311 (17,973,960) Total Liabilities $ 1,303,748,725 18,125,810 282,209,745 (44, 57,908) Equity Share capit l 20 $ 12,008,400 11,500,000 10,297,059 (21,797,059) Statu ory reserv s 21 141, 52,705 - - 910,025 Other reserv s 22 7,498,815 - ,366,854 (4,172,203) Retained earnings 8,003,667 ( ,496,555) 9,217,928 (7,624,577) Total Equity 16 ,963,587 6,003,445 2 ,881, 41 (32,683, 14) Total Liabilities and Equity $ 1,472,712,312 4,129,255 307,091,586 ( 7,141,722) ARBADOS PUBLIC WORKERS’ CO-OPERATIV CREDIT UNION LIMITED Notes o the Cons lidated Financi l Statem nts For the ye end d March 31, 2021 (Expressed in Barbado d llars) 103 Details of Consolid ted Stateme t of Fina c al Positi n Barbados Public Workers’ Co-operative Credit Union Limited and its Sub idiaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations Asset : Ca h resources 11 $ 94,902,050 746,771 25,555,432 (13,043,339) Financial inve tments: Amortized cost 12 18, 36,072 - 3,785,761 2,690 FVOCI 12 2,965,242 - 06,414 - Loans and adv nces 13 1, 46,080,071 - 265,770, 93 - Property and equipment 14 5 ,772,132 882,484 7,197,258 - Pension plan asset 15 ,032, 11 - - - Corporation tax ecoverable - - 326,788 - Other asset 16 55,724,434 22,500,000 ,049,140 (64,101,073) Total Asset $ 1,472,712,312 4,129,255 307,091,586 (77,141,722) BADOS PUBLIC WORKERS’ C -OPERATIVE CREDI UNIO LIMITED the C ns lida d Financ al Stat me ts year ended March 31, 2021 sed in Ba bado dollars) 104 of Consolidated Statement of Financial Position os Public Workers’ Co-operativ Credit Union Limited and its Subsidiarie 2020 BPWCCUL BPWFHI CAPIT FSI Eliminatio s Tot es and Equ ty: es s 17 $ 1,2 9,59 ,696 - 263,6 3,928 (15,543,339) 1,527,678,28 yable 18 - - 12,282,195 (10,940,609) 1,341,58 rsa le share 13,229,3 4 - - - 13,229,3 tion tax pay ble - - 131,881 - 131,88 x payabl 8 - - 314,378 - 314,37 d tax liability 9 - - 66,052 - 66,05 abilities 19 10,92 ,705 18,125,8 0 5,791,311 (17,973,960) 16,864,86 abilities $ 1,303,748,725 18,125,8 0 282,209,745 (44,457,908) 1,55 ,626,37 pital 20 $ 12,008,4 11,500,00 10,297,05 (21,797,05 ) 12,008,4 y reserv 21 141,452,70 - - 910,025 142,362,7 es v 22 7,498,815 - 5,366,854 (4,172,203) 8,693,4 d earnings 8,003,667 (5,496,555) 9,217,9 8 (7,624,577) 4,100,46 quity 168,963,587 6,003,445 24,881,841 (32,68 ,814) 67,165,05 abilities and Equ ty $ 1,472,712,3 2 24,129,255 307,091,586 (77,141,722) ,726,791,43 BADOS PUBLIC WORKERS’ C -OPERATIVE CREDI UNIO LIMITED the C ns lida d Financ al Stat me ts year ended March 31, 2021 sed in Ba bado dollars) 103 of Consolidated Statement of Financial Position os Public Workers’ Co-operativ Credit Union Limited and its Sub idiaries 2020 BPWC UL BP FHI CAPIT FSI Eliminatio s Tot sou ces 1 $ 294,902,05 746,7 1 25,5 5,432 (13,043,339) 08,16 ,9 al investments: ed cost 12 18,236,072 - 3,785,761 2,690 2 ,024,52 12 2,965,242 - 406,414 - 3,371,65 nd advances 13 1,046,080,071 - 265,770,793 - 1,31 ,850,86 y and equipm nt 14 53,7 2,132 8 2,4 4 7,197,258 - 61,851,87 pla as et 15 1,032,311 - - - 1,032,31 tion tax recoverable - - 326,788 - 326,78 ssets 16 55,724,434 22,500,000 4,049,140 (64,101,073) 18,172,50 s ets $ 1,472,712,3 2 24,129,255 307,091,586 (7 ,141,722) ,726,791,43 S PUBLIC WORKERS’ CO-OPERATIVE C EDIT UNION LIMITED nsolida ed Financial St temen s ded March 31, 2021 arbados dollars) 104 olidated Statement of Financial P sition Worke s’ Co-operative redit Union Limited and its Subsid aries 2020 BPWCCUL BPWFHI CAPITA S Eliminations Total Equ y: 17 $ 1,279,597,696 - 263,623,928 (15 54 339) 1,527,678,285 18 - 12,282,195 (10 940 609) 1,341,586 hares 13,229,324 - 13,229,324 payable - 131,881 - 131,881 le 8 - 314,378 - 314,378 ility 9 - 66,052 - 66,052 19 10,921,705 8,125,8 0 5,791,3 1 (17 973 960) 16,864,866 $ 1,303,748,725 18,125,8 0 28 ,209,745 (44 457 908) 1 559,626,372 20 $ 12,0 8,400 11,5 ,0 1 ,297, 59 ( 1 79 0 ) 2,008,400 es 21 141,452,705 - 910,025 142,362,730 22 7,498,815 - 5,366,854 (4,172 203) 8,693,466 gs 8,003,667 (5,49 55 ) ,217,928 (7,624 57 ) 4,100, 63 168,963,587 ,003,445 24,881,8 1 (32 6 3 814) 167,165,059 nd Equi y $ 1,472,712,312 24,129,255 307,091,586 (77 14 722) 6, 91,431 S PUBLIC WORKERS’ CO-OPERATIVE C EDIT UNION LIMITED nsolida ed Financial St temen s ded March 31, 2021 arbados dolla s) 103 olidated Sta ement of Financial P sition Worke s’ C -operative redit Union Limited a d its Subsid aries 2020 BPWCCUL BPWFHI CAPITA S Eliminations Total 11 $ 294,902,050 746,771 25,555,432 (13 0 3,3 9) 308,160,914 ments: 12 18,236,072 - 3,785,761 2,690 22,0 4,523 12 2,965, 4 - 406,414 - 3,371,656 nces 13 1,046,080,071 - 265,770,793 - 1,311,850,864 uipment 14 53,772,132 882,484 7,197,258 - 61,851,874 set 15 1,032,31 - 1,032,31 recoverable - 326,788 - 326,788 16 55,724,434 22,500,000 4,049,14 (6 101 073) 18,172,501 $ 1,472,712,31 24,129,255 307,091,586 (77 14 722) 6, 91,431 PUBLIC WORKERS’ CO- P ATIVE CREDIT UNION LIM TED lidated Financial St m nts March 31, 2021 ados dollars) 104 ated Statement of Financial Position orke s’ Co-operative Credit Union Limited and its Subs diaries 2020 BPWCCUL BPWFHI CAPITA FSI Eliminations Tot l uity: 17 $ 1,279,5 7,696 - 263, 23,928 (15,543,3 9) 1,527,6 8,2 18 - - 12,28 ,195 ( 0,940,609) 1,341,586 es 13,229,324 - - - 13,229,324 yable - - 13 ,881 - 131,881 8 - - 314,378 - 314,378 y 9 - - 66,052 - 66,052 19 10,921,705 18, 25,8 0 5,791,3 1 (17,9 3, 60) 16,864,86 $ 1,303,748,725 8, 25,810 2 ,209,745 (4 , 57,908) 1, 59,626,372 20 $ 12,008,400 11,500, 0 1 ,297, 59 (21,79 ,059) 12,008,4 0 21 141, 52,705 - - 910,025 42,362,730 22 7,498,815 - 5,366,854 (4,172,203) 8,693,466 8,003,667 (5,496,555) 9,217, 28 (7,624,5 7) 4,100,463 168,963,587 6,003,445 2 ,881, 41 (32,683, 4) 167, 65,0 9 nd Equi y $ 1,472, 12,312 24,1 9, 55 307, 91,586 (77,14 ,722) ,726,791,431 PUBLIC WORKERS’ CO- P ATIVE CREDIT UNION LIM TED lidated Financi l St m nts March 31, 2021 ados doll s) 103 ated Statem nt f Financial Pos ion rke s’ Co-operative Credit Unio Limited a d its Subs diar es 20 BPWCCUL BPWFHI CAPITA FSI Eliminations Tot l 11 $ 294,902,050 7 6,771 25,5 , 32 (1 ,043,339) 08,160,914 ts: 12 18,236,072 - 3,785,761 2,690 2,0 4,523 12 2,965, 42 - 406,41 - 3,371,65 es 13 1,046,080,071 - 265,770, 93 - 1,3 1,850,864 me 14 53,772,132 88 ,484 7,197,258 - 61,851,874 15 1,032,311 - - - 1,032, 11 overable - - 326,788 - 326,788 16 55,724,434 22, 00,0 0 4,0 9,140 (6 ,10 ,073) 18, 72,5 1 $ 1,472, 12,3 2 24,1 9, 55 307,091,586 (77,14 ,722) 1,726,791,431

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