Separate Annual Report 2021

31 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2021 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Separate Statement of Changes in Equity For the year ended March 31, 2021 With comparative figures for 2020 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserves reserves earnings At April 1, 2019 11,400,600 134,058,639 4,573,128 4,092,910 Profit for the year - - - 17,091,949 Other comprehensive income - - 682,929 - Issue of shares 18 732,120 - - - Redemption of shares 18 (124,320) - - - Transfer to statutory reserves 19 - 7,363,561 - (7,363,561) Entrance fees 19 - 30,505 - - Transfer to special reserves 20 - - 1,127,129 (1,127,129) Special reserves released to retained earnings 20 - - (860,300) 860,300 Net reserve for interest on non- performing loans 20 - - 1,975,929 (1,975,929) Distributions to members 8 - - - (3,574,873) At March 31, 2020 $ 12,008,400 141,452,705 7,498,815 8,003,667 Profit for the year - - - 8,019,720 Other comprehensive loss - - (575,288) - Issue of shares 18 430,560 - - - Redemption of shares 18 (81,960) - - - Transfer to statutory reserves 19 - 7,924,734 - (7,924,734) Entrance fees 19 - 17,940 - - Transfer to special reserves 20 - - 1,235,578 (1,235,578) Special reserves released to retained earnings 20 - - (784,301) 784,301 Net reserve for interest on non- performing loans 20 - - (334,162) 334,162 Distributions to members 8 - - - (3,608,173) At March 31, 2021 $ 12,357,000 149,395,379 7,040,642 4,373,365 The accompanying notes form an integral part of these separate financial statements. 8 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Separate Statement of Changes in Equity For the year ended March 31, 2021 With comparative figures for 2020 (Expressed in Barbados dollars) Share Statutory Other Retain d Notes capital reserves reserves earnings At April 1, 20 9 11,400,600 134,058,639 4,573,128 4,092,910 1 Profit for the year - - - 17,091,949 Other comprehensiv income - - 682,929 - Issue of shares 18 732,120 - - - Redemption of shares 18 (124,3 0) - - - Transfer to statutory reserves 19 - 7,363,5 1 - (7,363,5 1) Entrance fees 19 - 30,505 - - Transfer to special reserves 20 - - 1,127,1 9 (1,127,1 9) Special reserves eleased to retain d earnings 20 - - (860,30 ) 860,300 Net reserve for inte es on n - performing loans 20 - - 1,975,929 (1,975,929) Distributions t memb rs 8 - - - (3,574,873) At March 31, 2020 $ 12,008,4 0 141,452,705 7,498,815 8,003,667 1 Profit for the year - - - 8,019,720 Other comprehensiv loss - - (575,288) - Issue of shares 18 430,56 - - - Redemption of shares 18 (81,960) - - - Transfer to statutory reserves 19 - 7,924,73 - (7,924,73 ) Entrance fees 19 - 17,940 - - Transfer to special reserves 20 - - 1,235,578 (1,235,578) Special reserves eleased to retain d earnings 20 - - (784,301) 784,301 Net reserve for inte es on n - performing loans 20 - - (334,162) 334,162 Distributions t memb rs 8 - - - (3,608,173) At March 31, 2021 $ 12,357,000 149,395,379 7,040,642 4,373,365 1 The accompanying notes form an integral part of these separate financial statements. 8 BARBADOS PUBLIC WORKERS’ CO- PERATIVE CREDIT UNION LIM TED Separate Statement of Changes in Equity For the year ended March 31, 2021 With comparative figures for 2020 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserv s reserv s earnings At April 1, 2019 11,400,600 134,058,639 4,573,128 4,092,910 154, Profit for the year - - - 17,091,949 17,0 Other comprehensiv ncome - - 682,929 - 6 Issue of shares 18 732,120 - - - 7 Redemption of shares 18 (124,320) - - - (1 Transfer to s atutory reserves 19 - 7,363,561 - (7,363,561) Entrance fees 19 - 30,505 - - Transfer to special res rv s 20 - - 1,127,129 (1,127,129) Special res rv s r leas d to retained earnings 20 - - (860,300) 860,300 Net r serve for interest on non- performing loans 20 - - 1,975,929 (1,975,929) Distribut ons to me bers 8 - - - (3,574,873) (3,5 At March 31, 2020 $ 12,008,400 141,452,705 7,498,815 8,003,667 168,9 Profit for the year - - - 8,019,720 8,0 Other comprehensiv loss - - (575,288) - (5 Issue of shares 18 430,560 - - - 4 Redemption of shares 18 (81,960) - - - Transfer to s atutory reserves 19 - 7,924,734 - (7,924,734) Entrance fees 19 - 17,940 - - Transfer to special res rv s 20 - - 1,235,578 (1,235,578) Special res rv s r leas d to retained earnings 20 - - (784,301) 784,301 Net r serve for interest on non- performing loans 20 - - (334,162) 334,162 Distribut ons to me bers 8 - - - (3,608,173) (3,6 At March 31, 2021 $ 12,357,000 149,395,379 7,040,642 4,373,365 173,1 The accompanying notes form an integral part of these eparate financial st temen s. 8 BARBADOS PUBLIC WORKE S’ CO-OPERATIV CREDIT UNION LIMITED Separate St t ment of Changes in Equity For the year end d March 31, 20 1 With comparative figur s fo 20 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital res rv s res rves earnings At April 1, 2019 11,400,60 134,058,639 4,573,128 4,092,910 154,12 Profit or the year - - - 17,09 ,94 17,091 Other compreh nsive income - - 682,92 - 682 Issue of share 18 732,120 - - - 732 Red mption of share 18 (124,320) - - - (124 Transfer to statuto y eserves 19 - 7,36 ,561 - (7,36 ,561) Entrance f es 19 - 30,50 - - 30 Transfer to special res rves 20 - - 1,127, 29 (1, 27,129) Special r s rves released to retained earnings 20 - - (860,300) 860,300 Net res rve for int est n o - perfo ming loans 20 - - 1,975,92 (1,975,92 ) Distributions to members 8 - - - (3,574,873) (3,574 At March 31, 20 0 $ 12,008,4 14 ,452,70 7,498,815 8,003,667 1 8,963 Profit or the year - - - 8,019,720 8,019 Other compreh nsive lo s - - (57 ,288) - (57 Issue of share 18 430,560 - - - 430 Red mption of share 18 (81,960) - - - (81 Transfer to statuto y eserves 19 - 7,924, 34 - (7,924,734) Entrance f es 19 - 17,940 - - 17 Transfer to special res rves 20 - - 1,235, 78 (1,235, 78) Special r s rves released to retained earnings 20 - - (784,301) 784,301 Net res rve for int est n o - perfo ming loans 20 - - (334,162) 334,162 Distributions to members 8 - - - (3,608,173) (3,608 At March 31, 20 1 $ 12,357,00 149,395,37 7,04 ,642 4,37 ,365 173,166 The accompanying notes form an i tegral part of thes separate financi l statements. 8 ARBADOS PU LIC WORKERS’ CO-OPERATIV CREDIT UNION LIMITED parate Statement of Changes i Equity r the year end d March 31, 2021 th comparative figures o 2020 xpressed in Barbados dollar ) Share Statutory Other R tain d Notes capital rese ves r se ves earnings Tota April 1, 2019 11,400,6 0 134,058,639 4,573 128 4,092,910 154,125,277 ofit f r the yea - - - 17,091,949 17,0 1,949 her comprehensive income - - 682,929 - 682,929 ue of shares 18 732,120 - - - 732,120 demption of shares 18 (124,3 0) - - - (124,3 0 ansfer to statuto y rese ves 19 - 7,363 5 1 - (7,363,5 1) trance fees 19 - 30,505 - - 30,505 ansfer to pecial reserves 20 - - 1,127 9 (1, 7,1 9) ecial rese ves r le ed o retained earnings 20 - - (860,300) 86 ,300 t reserve for int est n n- performing loans 20 - - 1,975 2 (1, 75,92 ) stributions to members 8 - - - (3,574,8 3) (3,574,8 3 March 31, 2020 $ 12,008,4 141,452,705 7,498 815 8,003 667 1 8,9 3,587 ofit f r the yea - - - 8,019 72 8,019,72 her comprehensive l ss - - (575,288) - (575,288 ue of shares 18 430,560 - - - 430,560 demption of shares 18 (81,960) - - - (81,960 ansfer to statuto y rese ves 19 - 7,924 734 - (7,924,734) trance fees 19 - 17,940 - - 17,940 ansfer to pecial reserves 20 - - 1,235 578 (1,235,578) ecial rese ves r le ed o retained earnings 20 - - (784,301) 784,301 t reserve for int est n n- performing loans 20 - - (334,162) 334,162 stributions to members 8 - - - (3,608,173) (3,608,173 March 31, 2021 $ 12,357,000 149,395,379 7,040 6 2 4,373 365 173, 66,386 e accompanying notes form a integral part of these separate financial statements. 8 BADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNIO LIMITED e tatem nt of Ch nges in Equi y year ended Ma ch 31, 2021 mparative figures f r 2020 sed in Barbados doll rs) Share Statutory O her R tain d Notes capital reserves earning Total l 1, 20 9 11,400,6 0 134 058 39 573 128 092 910 154,125,277 r the year - 17,091,949 17,091,949 omprehensive incom - 682,929 - 682,929 share 18 732,120 - 732,120 ption of shares 18 (124,3 0) - (124,3 0) r to statutory reserves 19 - 7,363,5 1 - (7,363,5 1) - e fees 19 - 30,505 - 30,505 r to special reserve 20 - 1,127, 9 ( ) - reserves le s d ain d earn gs 20 - (860,300) - erve for inte s on non- ming loans 20 - 1,975, 29 ( ) - tion mem ers 8 - (3,574,873) ( ,574,873) ch 31, 2020 $ 12,008,400 141 452 7 5 7 98 81 8 003 667 1 8,963,587 r the year - 8,019,720 8,019,720 omprehensive l ss - (575,288) - (575,288) share 18 430,56 - 430,56 ption of shares 18 (81,960) - (81,960) r to statutory reserves 19 - 7,924,734 - (7,924,734) - e fees 19 - 17,940 - 17,940 r to special reserve 20 - 1,235,578 ( ) - reserves le s d ain d earn gs 20 - (784,301) - erve for inte s on non- ming loans 20 - (334,162) - tion mem ers 8 - (3,608,173) ( ,608,173) ch 31, 2021 $ 12,357,000 149 95 79 7 040 642 4 373 65 17 ,16 , 8 ompanying not s form a integral par of these se rate financi l statements. 8 OS PUBLIC WORKERS’ CO-OPE ATIVE CREDI UNION LIMITED atement of Ch nges in Equi y ended Ma c 31, 2021 ative figures for 2020 n Barbados dolla s) Share St tutory O her Retain d Notes capital reserves re e v arning Total 0 9 11,400,6 134,058 39 4,573 12 4,092 910 154 125,277 year - 17,091,949 17,091,949 ehensiv income - 682,929 - 682,929 res 18 732,120 - 732,120 of shares 18 (124,3 0) - (124,320) tatutory rese ve 19 - 7,363,5 1 - (7,363,5 1) - es 19 - 30,505 - 30,505 pecial re e ves 20 - 1,127,1 9 ( , 7 9) - ves eleas d earn gs 20 - (860,300) 0, - for in er st on n n- loans 20 - 1,975,929 (1, 5 9) - to members 8 - (3,574,8 3) ( ,5 4,8 3) , 2020 $ 12,008,4 0 141,45 7 5 , 98 81 ,003 667 1 8,9 3,587 year - 8,019,720 8,019,72 ehensiv loss - (575,288) - (575,288) res 18 430,56 - 430,56 of shares 18 (81,960) - (81,960) tatutory rese ve 19 - 7,924,734 - (7,924,734) - s 19 - 17,940 - 17,940 pecial re e ves 20 - 1,235,578 (1, 8) - ves eleas d earn gs 20 - (784,301) 4, - for in er st on n n- loans 20 - (334,162) 4, - to members 8 - (3,608,173) ( ,608,173) , 2021 $ 12,357,000 149, 95 379 7,0 0 642 4,373 365 173, 66, 8 anying not s form an inte ral par f these s parat financial statements. 8 OS PU LIC WORKERS’ C -OPERATIVE CREDI UNION LIM ED ement of Changes in Equity nded Ma ch 31, 2021 ive figures for 2020 Barbado dollars) Share Sta u ory O her Retained Notes capital reserves res rves earni gs Total 19 11,400,600 134,058,639 4,573,128 4,092,91 15 125 277 ear - - - 17,091,949 1 ,09 ,94 nsive i come - - 682,929 - 682,929 s 18 732,120 - - - 732,120 shares 18 (124,320) - - - (124,320) u ory reserves 19 - 7,36 ,561 - (7,36 ,561) - 19 - 30,505 - - 30,50 ecial e erv s 20 - - 1, 27,129 (1, 27,129) - s r lea ed a nings 20 - - (860,300) 860,300 - r int r st on on- oans 20 - - 1,975,929 (1,975,92 ) - o members 8 - - - (3,574,873) ( ,574,87 ) 2020 $ 12,008,40 141,452,705 7,498, 15 8,003,667 16 ,963,587 ear - - - 8,019,72 ,01 ,72 nsive loss - - (57 ,288) - (57 ,288) s 18 430,560 - - - 430,560 shares 18 (81,960) - - - (81,960) u ory reserves 19 - 7,924,734 - (7,924,734) - 19 - 17,940 - - 17,940 ecial e erv s 20 - - 1,235, 78 (1,23 , 78) - s r lea ed a nings 20 - - (784,301) 784,301 - r int r st on on- oans 20 - - (334,162) 334,162 - o members 8 - - - (3,608,173) ( ,608,17 ) 2021 $ 12,357,000 149,395,379 7,040,642 4,373, 65 17 ,166,386 nying notes form n integral part of hese separat financial st tem nts.