39 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | CONSOLIDATED ANNUAL REPORT 2022 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Consolidated Statement of Changes in Equity For the year ended March 31, 2022 With comparative figures for the year ended 2021 (Expressed in Barbados dollars) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings At April 1, 2020 $ 12,008,400 142,362,730 8,693,466 4,100,463 Net income for the year - - - 9,526,168 Other comprehensive income - - 508,318 - Issue of shares 20 430,560 - - - Redemption of shares 20 (81,960) - - - Transfer to statutory reserves 21 - 8,161,311 - (8,161,311) Entrance fees 21 - 17,940 - - Transfer to special reserves 22 - - 1,235,578 (1,235,578) Special reserves released to retained earnings 22 - - (784,301) 784,301 Reserve for interest on non-performing loans 22 - - 165,839 (165,839) Distributions to members 10 - - - (3,608,173) Other Movement - - - (490) At March 31, 2021 $ 12,357,000 150,541,981 9,818,900 1,239,541 Net income for the year - - - 11,136,777 Other comprehensive income - - 2,566,079 - Issue of shares 20 634,800 - - - Redemption of shares 20 (91,080) - - - Transfer to statutory reserves 21 - 7,494,981 - (7,494,981) Entrance fees 21 - 26,450 - - Transfer to special reserves 22 - - 815,080 (815,080) Special reserves released to retained earnings 22 - - (921,849) 921,849 Reserve for interest on non-performing loans 22 - - 1,006,958 (1,006,958) Distributions to members 10 - - - (2,646,505) At March 31, 2022 $ 12,900,720 158,063,412 13,285,169 1,334,642 The accompanying notes form an integral part of these consolidated financial statements. N f 7 BAR ADOS PUBLIC WORKERS’ CO-OPERATIVE CR DIT UNION LIMITED Consolidated Sta ment of Changes in Equity For the year ended March 31, 2022 With comparative figures for the year ended 2021 (Expressed in Barbados dollar ) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings At April 1, 2020 $ 12,008,400 142,362,730 8,693,466 4,100,463 167,16 Net income for th year - - - 9,526,168 9,526 Other comp ehensive income - - 508,318 - 508 Issue of shares 20 430,560 - - - 430 Redemption of shares 20 (81,960) - - - (81 Transfer to tatut ry reserves 21 - 8,161,31 - (8,161,31 ) Entrance fees 21 - 17,940 - - 17 Transfer to special reserves 22 - - 1,235,578 (1,235,578) Special reserves r leased to retained e rnings 22 - - (784,301) 784,301 Reserve for int rest on non-perf rming loans 22 - - 165,839 (165,839) Distributions to members 10 - - - (3,608,173) (3,608 Other Mov ment - - - (490) At March 31, 2021 $ 12,357,000 150,541,981 9,818,900 1,239,541 73,95 Net income for th year - - - 11,136,777 11,018 Other comp ehensive income - - 2,566,079 - 2,566 Issue of shares 20 634,800 - - - 634 Redemption of shares 20 (91,080) - - - (91 Transfer to tatut ry reserves 21 - 7,494,981 - (7,494,981) Entrance fees 21 - 26,450 - - 26 Transfer to special reserves 22 - - 815,080 (815,080) Special reserves r leased to retained e rnings 22 - - (921,84 ) 921,84 Reserve for int rest on non-perf rming loans 22 - - 1,006,958 (1,006,958) Distributions to members 10 - - - (2,646,505) (2,646 At March 31, 2022 $ 12,900,7 0 158,063,412 13,285, 69 1,334,642 185,58 The accompanying notes form an integral part of these consolidated fin ncial statements. 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UN ON LIMITED Consolidated Statemen of Changes in Equity For the year ended March 31, 2022 With comparative figures for th year end d 2021 (Expres ed in Barbados dollars) Share Statutory Other Retained Notes Capital Reserves Reserves Earnings T At April 1, 2020 $ 12,0 8,400 142,362,730 8,693,466 4,100,463 167,165 Net income for the year - - - 9,526,168 9,526 Other comprehensiv incom - - 508,318 - 508 Is ue of hares 20 430,560 - - - 430 Redemption of shares 20 (81,960) - - - (81 Transfer to statutory reserves 21 - 8,161,31 - (8,161,311) Entrance fees 21 - 17,940 - - 17 Transfer to special reserves 2 - - 1,235,578 (1,235,578) Special reserves released to retained rnings 2 - - (784,301) 784,301 Reserve for interest on non-performing l ans 2 - - 165,839 (165,839) Distributions to members 10 - - - (3,608,173) (3,608 Other Movement - - - (490) ( At March 31, 2021 $ 12,357,00 150,541,981 9,818,900 1,239,541 173,957 Net income for the year - - - 1 ,136,7 11,018 Other comprehensiv incom - - 2,566,079 - 2,566 Is ue of hares 20 634,80 - - - 634 Redemption of shares 20 (91,080) - - - (91 Transfer to statutory reserves 21 - 7,494,981 - (7,494,981) Entrance fees 21 - 26,450 - - 26 Transfer to special reserves 2 - - 815,080 (815,080) Special reserves released to retained rnings 2 - - (921,849) 921,849 Reserve for interest on non-performing l ans 2 - - 1,0 6,958 (1,0 6,958) Distributions to members 10 - - - (2,646,505) (2,646 At March 31, 2022 $ 12,900,720 158,063,412 13,285,169 1,3 4,642 185,583 The accompanying notes form an integral part of these consolidated financial statemen s. 7 BARBADOS PUBLIC WORKERS’ CO- PERATIVE CREDIT UNION LIMITED onsolidated Sta em nt of Changes in Equity or the y ar ended March 31, 2022 With comparative figures for the y ar ended 2021 Expressed in Barbados dollars) Share Sta u ory Other Retained Notes Capital Res rv s Res rv s Earni gs Tot t pril 1, 20 $ 12,008,400 142,362,730 8,693,466 4,100,463 1 7,165,0 et income for the y ar - - - 9,526,168 9,526,1 Other comprehensive income - - 508,318 - 508,31 ssue of shares 20 430,560 - - - 430,56 ed mption of shares 20 (81,960) - - - (81,96 ransfer to statutory reserv s 21 - 8,161,3 1 - (8,16 ,311) ntrance f es 21 - 17,940 - - 17,94 ransfer to special reserv s 22 - - 1,235, 78 (1,235, 78) pecial reserv s released to r tained arnings 22 - - (784,301) 784,301 eserve for inter st on non-performing loans 22 - - 165,839 (165,839) istr butions to members 10 - - - (3,608,173) ( ,608,17 Other Movem nt - - - (490) (49 t March 31, 20 1 $ 12,357,000 150,541,981 9,81 ,900 1,239,541 173,957,4 et income for the y ar - - - 11, 36,777 11,0 8,71 Other comprehensive income - - 2,566,079 - 2,566,07 ssue of shares 20 634,800 - - - 634,80 ed mption of shares 20 (91,080) - - - (91,08 ransfer to statutory reserv s 21 - 7,494, 81 - (7,49 , 81) ntrance f es 21 - 26,450 - - 26,45 ransfer to special reserv s 22 - - 815,080 (815,080) pecial reserv s released to r tained arnings 22 - - (921,849) 921,849 eserve for inter st on non-performing loans 22 - - 1,006,958 (1,006,958) istr butions to members 10 - - - (2,64 ,505) (2,64 ,50 t March 31, 20 2 $ 12,900,720 158,063,4 2 3,285,169 1,334,6 2 185,583,9 he accompanyi g otes form an integral part of these consolidated financial statem nt . 7 ARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED ns lidated Statement of Changes in Equity the year nded March 31, 202 h comparative f gures for the year nded 2021 press d in Barbados dolla s) Share Sta u ory Other Retain d Notes Capit l Reserves R erves Earni gs Total April 1, 2020 $ 12,008,400 142,36 ,730 8,693,466 ,100,463 167,165,059 income for the year - - - 9,526,168 9,526,168 er compre ensive income - - 508,31 - 508,31 ue of shares 20 430,56 - - - 430,56 demption of shares 20 (81,960) - - - (81,960 nsfer to sta u ory reserves 21 - 8,161,31 - (8,161,31 ) - ra ce f es 21 - 17,940 - - 17,940 nsfer to special reserves 22 - - 1,235, 78 (1,235, 78) - ecial reserves el as d to retain d earnings 22 - - (784,301) 784,301 - serve for inte es on o -performing loans 22 - - 165,839 (165,839) - tributions t members 10 - - - (3,608,173) (3,608,173 er Movement - - - (490) (490 March 31, 2021 $ 12,357,000 15 ,541,98 ,818,900 1,239,541 173,957,422 income for the year - - - 11, 36,777 11,018,7 4 er compre ensive income - - 2,566,079 - 2,566,079 ue of shares 20 634,800 - - - 634,800 demption of shares 20 (91,080) - - - (91,080 nsfer to sta u ory reserves 21 - 7,494,981 - (7,494,981) - ra ce f es 21 - 26,450 - - 26,450 nsfer to special reserves 22 - - 815,080 (815,080) - ecial reserves el as d to retain d earnings 22 - - (921,849) 921,849 - serve for inte es on o -performing loans 22 - - 1,006,958 (1,006,958) - tributions t memb rs 10 - - - (2,646,505) (2,646,505 March 31, 202 $ 12,900,720 158,063,412 13,285,169 1,334,642 185, 83,94 e accompanying notes form an integral part of hese consolidat d fi anci l st ements. 7 DOS PUBLIC WORKE S’ CO-OPERATIV CR DIT UN ON L MITED ated Statement of Changes in Equity ear end d March 31, 2022 mparative figu es o the year end d 2021 ed in Barbados dollars) Share Statutory Other Retain d Notes Capital Reserves R s rv Earnings Total 1, 2020 $ 12,008,40 1 2,362,7 0 8,693,466 4,100, 63 1 7,165,059 me f r the year - - - 9,526,168 9,52 ,16 mprehensive inc m - - 508,318 - 508,318 hare 20 430,560 - - - 430,560 ion of share 20 (81,960) - - - (81,960) to sta uto y reserves 21 - 8,161,3 1 - (8,161,3 1) - fees 21 - 17,940 - - 17,940 to sp cial e erv s 22 - - 1,235,578 (1,235,578) - serv s rel as d to ret ined ear ings 22 - - (784,301) 784, 1 - fo int est n on-performing loa s 22 - - 165,839 (165, 39) - ons o members 10 - - - (3,608,173) (3,608,17 ) ovement - - - (490) ( 9 h 31, 2021 $ 12,357,000 15 ,541,981 9,818, 00 1,239,541 173,95 ,422 me f r the year - - - 11,136,777 1 ,018, 14 mprehensive inc m - - 2,566,079 - 2,566,079 hare 20 634,800 - - - 634,800 ion of share 20 (91,080) - - - (91,080) to sta uto y reserves 21 - 7,494,981 - (7,494,981) - fees 21 - 26,450 - - 26,450 to sp cial e erv s 22 - - 815,0 0 (815, 0) - serv s rel as d to ret ined ear ings 22 - - (921,849) 921, 49 - fo int est n on-performing loa s 22 - - 1,006,958 (1,006,958) - ons o members 10 - - - (2,646,505) (2,646, 0 ) h 31, 2022 $ 12,900,72 158, 63,412 13,285, 69 1,334,642 185,583,943 mpanying notes f rm an integral pa t of these c nsolidated financial statement . 7 OS PUBLIC WORKERS’ CO-OPERATIV CREDIT UNION LIM TED d Statement of Cha g s in Equity ended March 31, 2022 a ive figures for the yea nded 2021 n Barbados doll rs) Share Statutory Other Retained Notes Capit l Reserv s Reserv s Earnings Total 020 $ 12,008,400 142 362,730 8 693,466 4 100,463 67,1 5,0 9 or the yea - - - 9,526,1 8 9 526,1 8 ensive ncom - - 508,318 - 508,318 res 20 430,560 - - - 430,560 f shares 20 (81,960) - - - (81,960) t tutory eserv s 21 - 8,161,3 1 - (8,161,3 1) - es 21 - 17,940 - - 17,940 pecial reserves 22 - - 1,235,578 (1 235,578) - rv s el as d to tain arnings 22 - - (784,301) 784,301 - int rest no -performing loa s 22 - - 165,839 (165,839) - to members 10 - - - (3,608,173) ( 608,173) m nt - - - (490) (490) 1, 2021 $ 12,357,000 1 0 541,98 9 818,900 1 239,541 173,957,422 or the yea - - - 11,136,777 11 0 8,714 ensive ncom - - 2,566,079 - 2,566,079 res 20 634,800 - - - 634,800 f shares 20 (91,080) - - - (91,080) t tutory eserv s 21 - 7,494, 81 - (7,494, 81) - es 21 - 26,450 - - 26,450 pecial reserves 22 - - 815,080 (815,080) - rv s el as d to tain arnings 22 - - (921,849) 921,849 - int rest no -performing loa s 22 - - 1,006,958 (1 006,958) - to members 10 - - - (2,646,505) (2,646,505) 1, 202 $ 12,900,720 158 063,412 13,285,169 , 34,6 2 185 583,943 anying notes form a i tegral part of hese consolidated financial statem nts.
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