Separate Annual Report 2021

35 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED | SEPARATE FINANCIAL STATEMENTS 2022 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Separate Statement of Changes in Equity For the year ended March 31, 2022 (Expressed in Barbados dollars) Share Statutory Other Retained Notes capital reserves reserves earnings At April 1, 2020 12,008,400 141,452,705 7,498,815 8,003,667 Net income 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 1 Net income for the year - - - 10,266,837 Other comprehensive income - - 3,037,714 - Issue of shares 18 634,800 - - - Redemption of shares 18 (91,080) - - - Transfer to statutory reserves 19 - 7,318,766 - (7,318,766) Entrance fees 19 - 26,450 - - Transfer to special reserves 20 - - 815,080 (815,080) Special reserves released to retained earnings 20 - - (921,848) 921,848 Net reserve for interest on non- performing loans 20 - - 30,258 (30,258) Distributions to members 8 - - - (2,646,505) At March 31, 2022 $ 12,900,720 156,740,595 10,001,846 4,751,441 1 The accompanying notes form an integral part of these separate financial statements. 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Separa e Statement of Changes in Equity For the year ended March 31, 2022 (Expressed in Barba os dollars) Share S atutory Other Retained Notes capital eserves eserves earnings At April 1, 2020 12,0 8,400 141,452,705 7,498,815 8,003,667 Net income for the year - - - 8,019,720 Other comprehensive loss - - (575,288) - Issue of shares 18 43 ,560 - - - Redemption of shares 18 (81,960) - - - Transfer to statutory eserves 19 - 7,92 ,734 - (7,92 ,734) Entrance fees 19 - 17,940 - - Transfer to special eserves 20 - - 1,235,578 (1,235,578) Special eserves released to retained earnings 20 - - (784,301) 784,301 Net reserve for interest non- performing loans 20 - - (334,162) 334,162 Distributions to m mbers 8 - - - (3,608,173) At March 31, 2021 $ 12,357,000 149,395,379 7,0 0,642 4,373,365 Net income for the year - - - 10,266,837 Other comprehensive income - - 3,037,714 - Issue of shares 18 634,800 - - - Redemption of shares 18 (91,080) - - - Transfer to statutory eserves 19 - 7,318,766 - (7,318,766) Entrance fees 19 - 26,450 - - Transfer to special eserves 20 - - 815,080 (815,080) Special eserves released to retained earnings 20 - - (921,848) 921,848 Net reserve for interest non- performing loans 20 - - 30,258 (30,258) Distributions to m mbers 8 - - - (2,646,505) At March 31, 2022 $ 12,90 ,720 156,740,595 10,001,846 4,751,441 The accompanying notes form an integral part of these separate fin nci l statements. 7 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNIO LIMITED Separate Statement of Changes in Equity For the year ended March 31, 202 (Expres ed in Barbados dollars) Share Statutory Other Retain d Notes capital reserves reserves earnings At April 1, 2020 12,0 8,40 141,452,705 7,498,815 8,0 3,6 7 1 Net income for the year - - - 8,019,720 Other comprehensiv los - - (575,28 ) - Is ue of shares 18 430,560 - - - Redemption of shares 18 (81,960) - - - Transfer to statutory reserv s 19 - 7,924,734 - (7,924,734) Entrance fe s 19 - 17,940 - - Transfer to special reserv s 20 - - 1,235,578 (1,235,578) Special reserv s rel as d to retained earnings 20 - - (784,301) 784,301 Net reserve for interest on nonperforming loans 20 - - (3 4,162) 3 4,162 Distributions members 8 - - - (3,608,173) At March 31, 2021 $ 12,357,0 149,395,379 7,040,642 4,373,365 1 Net income for the year - - - 10,26 ,837 Other comprehensiv income - - 3,037,714 - Is ue of shares 18 634,80 - - - Redemption of shares 18 (91,080) - - - Transfer to statutory reserv s 19 - 7,318,76 - (7,318,766) Entrance fe s 19 - 26,450 - - Transfer to special reserv s 20 - - 815,080 (815,080) Special reserv s releas d to retained earnings 20 - - (921,848) 921,848 Net reserve for interest on nonperforming loans 20 - - 30,258 (30,258) Distributions members 8 - - - (2,646,505) At March 31, 202 $ 12,90 ,720 156,740,595 10,0 1,846 4,751,4 1 1 The ac ompanying notes form an integral part of these separate financial statements. 7 BAR DOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Separate Statement of Changes in Equity For the year ended March 31, 2022 (Expressed in Barbados llars) Share Statutory Other Retain d Notes capital rese v rese v earnings At April 1, 2020 12,008 400 141,452 705 7,498 815 8,003 667 168,9 Net income for the year - - - 8,019 720 8,0 Other comprehensive loss - - (575,288) - (5 Issue of shares 18 430,56 - - - 4 Redemption of share 18 (81,960) - - - ( Transfer to sta utory rese v 19 - 7,924 73 - (7,924 73 ) Entrance fe s 19 - 17,940 - - Transfer to special reserv 20 - - 1,235 578 (1,235 578) Special reserv s r l as d to retained earn gs 20 - - (784,301) 784,301 Net reserve for inter st on n - performing loans 20 - - (334,162) 334,162 Distribu ions o memb rs 8 - - - (3,608 173) ( ,6 At March 31, 2021 $ 12,357 000 149,395 79 7,040 6 2 4,373 65 173, Net income for the year - - - 10,266 837 10,2 Other comprehensive income - - 3,037 714 - 3,0 Issue of share 18 634,800 - - - 6 Redemption of shares 18 (91,080) - - - ( Transfer to sta utory rese v 19 - 7,318 766 - (7,318 766) Entrance fe s 19 - 26,450 - - Transfer to special reserv s 20 - - 815,080 (815,080) Special reserv s r l as d to retained earn gs 20 - - (921,848) 921,848 Net reserve for inter st on n - performing loans 20 - - 30,258 (30,258) Distribu ions o memb rs 8 - - - (2,646 505) (2,6 At March 31, 2022 $ 12,900 720 156,740 595 10,001 846 4,751 44 184,3 The accompanying notes f rm an integral par of these s parate financial statements. 7 BAR ADOS PUBLIC WORKERS’ CO-OPERATIVE CR DIT UNION LIM TED Separate St men of Changes i Equity For the year ended M ch 31, 2022 (Expressed in Barbados dollar ) Share Sta u ory Other Retained Notes capital reserves reserves earni gs At April 1, 2020 12,008,400 141,452,705 7,498, 15 8,003,667 168,96 Net income for the year - - - 8,019,720 8, 19 Other compreh nsive loss - - (575,288) - (575 Issue of shares 18 430,560 - - - 430 Redemption of shares 18 (81,960) - - - (81 Transfer to statu ory re erves 19 - 7,924,734 - (7,924,734) Entrance fe s 19 - 17,940 - - 17 Transfer to special serves 20 - - 1,235, 78 (1,235, 78) Special reserves rel ased to retained ea ni gs 20 - - (784,301) 784,301 Net reserve for interest on on- performing loa s 20 - - (334,162) 334,162 Distributions to members 8 - - - (3,608,173) (3,608 At March 31, 202 $ 12,357,000 149,395,379 7,040,642 4,373, 65 173,166 Net income for the year - - - 10,266,837 10,266 Other compreh nsive i come - - 3,037, 14 - 3,037 Issue of shares 18 634,800 - - - 634 Redemption of shares 18 (91,080) - - - (91 Transfer to statu ory re erves 19 - 7,318,766 - (7,318,766) Entrance fe s 19 - 26,450 - - 26 Transfer to special serves 20 - - 815,0 0 (815,0 0) Special reserves rel ased to retained ea ni gs 20 - - (921,848) 921,848 Net reserve for interest on on- performing loa s 20 - - 30,258 (30,258) Distributions to members 8 - - - (2,646,505) (2,646 At March 31, 202 $ 12,900,720 156,740,595 10, 01,846 4,751,441 84,394 The accompanying otes form an integ al part of these separate fin ncial sta emen s. 7 ARBADOS PU LIC WORKERS’ CO-OPERATIVE CREDIT UNION L MITED parate St m nt of Changes in Equity r the year ended M ch 31, 2022 xpressed in Barba os dollars) Share Statutory Other R tained Notes capit l reserv reserv earnings Tota April 1, 2020 12,008,4 0 141,452,705 7,498,815 8,003,667 1 8,9 3,58 t income for the y ar - - - 8,019,720 8, 19,720 her compre nsive loss - - (575,288) - (575,288 ue of shares 18 430,56 - - - 430,56 demption of shar s 18 (81,960) - - - (81,960 ansfer to st tutory reserves 19 - 7,924,73 - (7,924,73 ) tra ce fees 19 - 17,940 - - 17,940 ansfer to special eserv 20 - - 1,235,578 (1,235,578) ecial reserv s r l sed o retained ea nings 20 - - (784,301) 784,301 t rese ve for interest on no - performing loa s 20 - - (334,162) 334,162 stributions to mem rs 8 - - - (3,608,173) (3,608,173 March 31, 2021 $ 12,357,000 149,395,379 7,040,6 2 4,373,365 173,166 38 t income for the y ar - - - 10,266,837 10,266,837 her compre nsive income - - 3,037,714 - 3,037,714 ue of shares 18 634,800 - - - 634,800 demption of shar s 18 (91,080) - - - (91,080 ansfer to st tutory re erves 19 - 7,318,766 - (7,318,766) tra ce fees 19 - 26,450 - - 26,450 ansfer to special eserv 20 - - 815,0 0 (815,0 0) ecial reserv s r l sed o retained ea nings 20 - - (921,848) 921,848 t rese ve for interest on no - performing loa s 20 - - 30,258 (30,258) stributions to mem rs 8 - - - (2,646,505) (2,646,505 March 31, 2022 $ 12,900,72 156,740,595 10,001,846 4,751,44 84,39 602 e accompanying notes form an integral part of these sepa ate financial st tements. 7 BADOS PUBLIC WORKERS’ O-OPERATIVE CREDIT UNION LIMITED te Statem nt of Changes in Equity year ended March 31, 2022 ssed in Barba os ollars) Share Statutory Other Retain d Notes capital rese ves r e v s arning Total il 1, 2020 12,008 4 0 141,452 705 7,498 815 8,003 667 1 8,9 3 587 om for the year - - - 8,019 720 8,019 720 comprehensive loss - - (575,288) - (575,288) f shares 18 430,56 - - - 430,56 ption of shares 18 (81,960) - - - (81,960) er to statutory rese ves 19 - 7,924 73 - (7,924 73 ) - ce fees 19 - 17,940 - - 17,940 er to speci l res ves 20 - - 1,235 578 (1,235 578) - l res ves released ain d earnings 20 - - (784,301) 784,301 - e ve fo interest on n - rming loans 20 - - (334,162) 334,162 - u ions to memb rs 8 - - - (3,608 173) (3,608 173) ch 31, 2021 $ 12,357 000 149,395 79 7,040 6 2 4,373 65 173,166 38 om for the year - - - 10,266 837 10,266 837 comprehensive incom - - 3,037 714 - 3,037 714 f shares 18 634,800 - - - 634,800 ption of shares 18 (91,080) - - - (91,080) er to statutory rese ves 19 - 7,318 766 - (7,318 766) - ce fees 19 - 26,450 - - 26,450 er to speci l res ves 20 - - 815,080 ( 15,080) - l res ves released ain d earnings 20 - - (921,848) 921,848 - e ve fo interest on n - rming loans 20 - - 30,258 (30,258) - u ions to memb rs 8 - - - (2,646 505) (2, 46 05) ch 31, 2022 $ 12,900 72 156,740 59 10,001 846 4,751 44 184,39 602 companying notes for a inte ral part of th se sepa ate financi l st tements. 7 DOS PUBLIC WORKERS’ O-OPERATIVE CREDIT UNION LIM ED tatement of Changes in Equity r nded March 31, 2022 in Ba bados d lla s) Share Statutory O her Retain d Notes capi l reserves re e ves earnings Tot l 2020 12,008 4 0 1 1,452,705 7,498,815 8,003,667 168,9 3 587 for he year - - - 8,019 720 8,019 720 pr hensive loss - - (575,288) - (575,288) are 18 430,56 - - - 430,56 n of shares 18 (81,960) - - - (81,960) statutory reserves 19 - 7,924,73 - (7,924,734) - ees 19 - 17,940 - - 17,940 speci l res rves 20 - - 1,235,578 (1,23 ,578) - ves re eas d d earnings 20 - - (784,301) 784,301 - e for in er st on n n- ng loans 20 - - (334,162) 334,162 - s to members 8 - - - (3,608 173) (3,608 173) 31, 2021 $ 12,357 000 149,395, 79 7,040,6 2 4,373, 65 173,166 38 for he year - - - 10,266 837 10,266 837 pr hensive income - - 3,037 714 - 3,037,714 are 18 634,800 - - - 634,800 n of shares 18 (91,0 0) - - - (91,080) statutory reserves 19 - 7,318,766 - (7,318,766) - ees 19 - 26,450 - - 26,450 speci l res rves 20 - - 815,080 ( 15,080) - ves re eas d d earnings 20 - - (921,848) 921,848 - e for in er st on n n- ng loans 20 - - 30,258 (30,258) - s to members 8 - - - (2,646 505) (2,646 05) 31, 202 $ 12,900 72 156,740,595 10,001,846 4,751,44 184,394 602 panying notes form an inte ral p rt of these s parate financi l s m nts. 7 OS PUBLIC WORKE S’ CO-OPERATIV CR DI UNION LIMITED emen of Ch nges in Equ ty ended March 31, 2022 n Barbados ollars) Share St tutory O her R tained Notes capital res rves r rve earnings Total 020 12,008,400 14 ,452,705 7,498,81 8,003,667 1 8 9 3,587 or the year - - - 8,019,720 8,019,720 ehensiv lo s - - (57 ,288) - (57 ,288) es 18 430,560 - - - 430,560 of shares 18 (8 ,960) - - - (81,960) atuto y reserves 19 - 7,924,734 - (7,924,734) - s 19 - 17,940 - - 17,940 peci l rese ves 20 - - 1,235,578 (1,235, 78) - ves released earnings 20 - - (784,301) 784,301 - or int st n on- loans 20 - - (334,162) 334,162 - to members 8 - - - (3,608,173) (3,608,173) 2021 $ 12,357,00 149,395,379 7,04 ,642 ,37 ,365 17 ,16 , 86 or the year - - - 10,266,837 10,266,837 ehensiv i come - - 3,037,714 - 3,037,714 es 18 634,800 - - - 634,800 of shares 18 (9 ,080) - - - (91,080) atuto y reserves 19 - 7,318,766 - (7,318,766) - s 19 - 26,450 - - 26,450 peci l rese ves 20 - - 815,08 (815,0 ) - ves released earnings 20 - - (921,84 ) 921,84 - or int st n on- loans 20 - - 30,258 (30,258) - to members 8 - - - (2,64 ,50 ) (2,64 ,50 ) 2022 $ 12,900,720 156,740,59 10,001,846 4,751,441 18 ,39 ,602 anying notes form an i tegral pa t o thes separa financial stat men s.

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