BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 128 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Notes to the Consolidated Financial Statements For the year ended March 31, 2022 (Expressed in Barbados dollars) 98 26. Fair Value, continued Level 2: other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly or indirectly. The fair value of financial instruments that are not traded in an active market (for example, over-thecounter derivatives) is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in Level 2. 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. 2022 Total Level 1 Level 2 Level 3 Balance Investment securities Equity securities - FVOCI - quoted $ 391,395 890,000 1,281,395 - FVOCI - unquoted - - 2,577,438 2,577,438 $ 391,395 890,000 2,577,438 3,858,833 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 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.
RkJQdWJsaXNoZXIy MTA2MDM=