39 CONSOLIDATED FINANCIAL STATEMENTS 2023 Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Changes in Equity For the year ended March 31, 2023 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ (Accumulated deficit)/ Retained earnings $ At April 1, 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 13,285,168 1,334,643 Net income for the year – – – 7,645,050 Other comprehensive income – – (2,861,065) – Issue of shares 20 544,080 – – – Redemption of shares 20 (110,640) – – – Transfer to statutory reserves 21 – 6,046,842 – (6,046,842) Entrance fees 21 – 22,670 – – Transfer to special reserves 22 – – 1,093,624 (1,093,624) Special reserves released to retained earnings 22 – – (1,071,296) 1,071,296 Reserve for interest on non-performing loans 22 – – 1,273,389 (1,273,389) Distributions to members 10 – – – (2,752,616) At March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) arbados ublic Wo kers’ Co-oper tive C e it U io L m te Consolidated Statement of Changes i q it For the ear ended a c 31, 02 (expr ssed in Barb os ol ar ) N t Share capital t tutory reserves $ Other reserves $ (A l t eficit)/ R t i ea nings At pril , 2,357,000 0,541,981 9,818,900 1,239, 41 Net inc me for th e r – – – ,136, 77 Other ompre nsiv i m – – ,5 ,0 9 – I ue of ar 20 6 ,8 0 – – – Rede pti of ar 2 ( ,0 0) – – – Tr nsf r to statut ry r s r 2 – ,4 ,9 1 – ( ,4 , 1) Entr c f 2 – ,4 0 – – Transfer to pecial r s r e 2 – – 815,080 (8 , 0) Special reserves released to retai ed e rnin 2 – – (921,849) 9 , 9 Reserve for interest on non-performi l a 2 – – 1,0 6,958 ( ,0 , 8) Distributions t e er 1 – – – (2,646, 05) At arch , 2,900,720 8,063,412 ,285,168 1,334, 43 Net inc me for th e r – – – 7,645, 50 Other ompre nsiv i m – – ( ,8 ,0 5) – I ue of ar 20 5 ,0 0 – – – Rede pti of ar 20 (1 ,6 0) – – – Tr nsf r to statut ry r s r 2 – ,0 ,8 2 – ( ,0 , 2) Entr c f 2 – ,6 0 – – Transfer to pecial r s r e 2 – – 1,093,624 ( ,0 , 4) Special reserves released to retai ed e rnin 2 – – (1,071,296) ,0 , 6 Reserve for interest on non-performi l a 2 – – 1,273,389 ( ,2 , 9) Distributions t e er 1 – – – (2,752, 16) At arch , 3,334,160 4,132,924 1,7 9,820 (1,115, 83) Barbados Public Workers’ Co- perative Credit Union Limited Consolidated Statement of Changes in Equity For the y ar ende March 31, 20 3 (express d in Barb dos dollars) Notes Share capital $ Statu ory res rves $ Other res rves $ (Accumulated deficit)/ Retained earnings $ At pril 1, 20 1 12,357,00 150, 41,981 9,81 ,900 1,239,541 17 Net income for the y ar – – – 11, 36,77 1 Other compreh nsive income – – 2,566,079 – Issue of shares 20 634,800 – – – Redemption f shares 20 (91,08 ) – – – Transfer to statutory eserves 21 – 7,49 , 81 – (7,49 , 81) Entrance f es 21 – 26,450 – – Transfer to special reserves 22 – – 815,08 (815,08 ) Special reserv s releas d to retained arnings 22 – – (921,849) 921,849 Reserv for interest on no -perfo ming loans 22 – – 1,006,958 (1,006,958) Distr butions to me bers 10 – – – (2,64 ,50 ) ( At March 31, 20 2 12,900,720 158,063,412 13,285,168 1,334,6 3 18 Net income for the y ar – – – 7,645,0 Other compreh nsive income – – (2,861,065) – ( Issue of shares 20 544,08 – – – Redemption f shares 20 (110,640) – – – Transfer to statutory eserves 21 – 6,046,842 – (6,046,842) Entrance f es 21 – 22,670 – – Transfer to special reserves 22 – – 1,093,624 (1,093,624) Special reserv s releas d to retained arnings 22 – – (1,071,296) 1,071,296 Reserv for interest on no -perfo ming loans 22 – – 1,273,389 (1,273,389) Distr butions to me bers 10 – – – (2,752,61 ) ( At March 31, 20 3 13,3 4,160 164,132,9 4 11,7 9,820 (1,1 5,483) 18 Barbados Public Workers’ Co-operativ Credit Union Limited Consolidated Statement of Changes i Equity For the yea ended March 31, 2023 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ (Accumulated deficit)/ Retained earnings $ To At April 1, 2021 12,357,000 15 ,54 ,981 9,818,900 1,239,541 173,957,4 Net income for the y ar – – – 11,136,777 11,136,7 Other comprehensive i come – – 2,566,079 – 2,566,0 Issue of hares 20 634,800 – – – 634,8 Redemption of shares 20 (91,080) – – – (91,0 Transfer to statutory rese ves 21 – 7,494,981 – (7,494,981) Entrance fees 21 – 26,450 – – 26,4 Transfer to pecial re erves 22 – – 815,080 (815,080) Special reserves r leased to r tained earn gs 22 – – (921,84 ) 921,84 Reserve for inter st on non-performing loans 22 – – 1,006,958 (1,006,958) Distributions to members 10 – – – (2,646,505) (2,646,5 At March 31, 2022 12,900,720 158,063,412 13,285,168 1,334,64 185,583,9 Net income for the y ar – – – 7,645,050 7,645,0 Other comprehensive i come – – (2,861,065) – (2,861,0 Issue of hares 20 544,080 – – – 544,0 Redemption of shares 20 (110,640) – – – (110,6 Transfer to statutory rese ves 21 – 6,046,842 – (6,046,842) Entrance fees 21 – 22,670 – – 22,6 Transfer to pecial re erves 22 – – 1,093,624 (1,093,624) Special reserves r leased to r tained earn gs 22 – – (1,071,296) 1,071,296 Reserve for inter st on non-performing loans 22 – – 1,273,389 (1,273,389) Distributions to members 10 – – – (2,752,616) (2,752,6 At March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) 188,07 ,4 arbados Public Workers’ Co-operative C edit Union Lim ted ns lidated Statem nt of Changes in Equity r the y ar ended M rch 31, 2023 pressed in Barbados dollars) 7 Notes Share capit l $ Statutory reserv s $ Other r erv s $ (Accum lated deficit)/ R tained earnings $ Total $ pril 1, 2021 12,357,000 150,541,981 9, 8,900 1,239,541 173,957,422 income for the y ar – – – 11,136,777 11,136,777 er comprehensive incom – – 2,566,079 – 2,566,079 e of share 20 634,800 – – – 634,800 emption of shares 20 (91,080) – – – (91,080) nsfer to statutory eserves 21 – 7,494, 81 – (7,494, 81) – ra ce fe s 21 – 26,450 – – 26,450 nsfer to special r serves 22 – – 815,080 ( 15,080) – cial reserves released to ret ined earnings 22 – – (921,849) 921,849 – erve for int r st on no -performi g loans 22 – – 1,006,958 (1,006,958) – tribut ons o members 10 – – – (2,646,505) (2,646,505) March 31, 2022 12,900,720 158,063,4 2 13,285,168 1,334,6 3 185,583,943 income for the y ar – – – 7,645,0 0 7,645,0 0 er comprehensive incom – – (2,861,065) – (2,861,065) e of share 20 544,080 – – – 544,080 emption of shares 20 (110,640) – – – (110,640) nsfer to statutory eserves 21 – 6,046,842 – (6,046,842) – ra ce fe s 21 – 22,670 – – 22,670 nsfer to special r serves 22 – – 1,093,624 (1,093,624) – cial reserves released to ret ined earnings 22 – – (1,071,296) 1,071,296 – erve for int r st on no -performi g loans 22 – – 1,273,389 (1,273,389) – tribut ons o members 10 – – – (2,752,616) (2,752,616) March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) 88,071,421 ados Public Workers’ Co-op ative Credit Un on L mited idated St tement of Changes in Equity year nded March 31, 202 ed in Barbado dollars) 7 Notes Share capit l $ tatutory reserves $ Other reserves $ (Accumulated deficit)/ Retain d arnings $ Total $ l 1, 2021 12,357,000 50, 41,98 9,8 8,900 1,239,541 173,957, 22 me for the yea – – – 11,136,777 1,136, 7 mprehensive in om – – 2,566,079 – 2,566,079 shares 20 634,800 – – – 634,800 tion of shar s 20 (91, 80) – – – (91,080) to statutory reserves 21 – 7,494,981 – (7,494,981) – e fees 21 – 26,450 – – 26,450 to special res rves 22 – – 815,080 (815,080) – res rves le sed to r tained earnings 22 – – (921,849) 921,849 – for inter s on n n-perfo ming loans 22 – – 1,006,958 (1, 06,958) – tions t members 10 – – – (2,646,505) (2,646,505) ch 31, 2022 12,900,72 58, 63,412 13,285, 68 1,334, 43 185,583,94 me for the yea – – – 7,645,050 7,645,050 mprehensive in om – – (2,861,065) – (2,861,065) shares 20 544, 80 – – – 544,080 tion of shar s 20 (110,64 ) – – – (110,64 ) to statutory reserves 21 – 6,046,842 – (6,046,842) – e fees 21 – 22,670 – – 22,670 to special res rves 22 – – 1,093,624 (1,093,624) – res rves le sed to r tained earnings 22 – – (1,071,296) 1,071,296 – for inter s on n n-perfo ming loans 22 – – 1,273,389 (1,273,389) – tions t members 10 – – – (2,752,616) (2,752,616) ch 31, 2023 13,334,160 64, 32,924 11,719,820 (1, 15,483) 188,071,42 dos Public Workers’ Co- perative Credit Union Limited ated Statement of Changes i Equ ty ar nded March 31, 2023 in Barbados dollars) 7 Notes Share capital $ Statutory reserv s $ Other res rves $ (Accum lated deficit)/ Retained ea nings $ Total $ 20 1 12,357,000 15 , 41,98 9,818,900 1,239,541 73,957,422 for the year – – – 11, 36,777 11, 36,777 pre nsiv in ome – – 2,566,079 – 2,566,079 res 20 634,800 – – – 634,800 n of shar s 20 (91, 8 ) – – – (91,080) statutory re erv s 21 – 7,494, 81 – (7,494, 81) – es 21 – 26,450 – – 26,450 special reserv s 22 – – 815,080 (815,080) – erv s relea d to tained earnings 22 – – (921,849) 921,849 – int rest on non-performing loans 22 – – 1,006,958 (1,006,958) – ns to me bers 10 – – – (2,646,505) (2,646,505) 31, 20 2 12,900,7 0 158,063,412 13,285, 68 1, 34,6 3 185,583,943 for the year – – – 7,645,0 0 7,645,0 0 pre nsiv in ome – – (2,861,065) – (2,861,065) res 20 544, 8 – – – 544,080 n of shar s 20 (110,640) – – – (110,640) statutory re erv s 21 – 6,046,842 – (6,046,842) – es 21 – 22,670 – – 22,670 special reserv s 22 – – 1,093,624 (1,093,624) – erv s relea d to tained earnings 22 – – (1,071,296) 1,071,296 – int rest on non-performing loans 22 – – 1,273,389 (1,273, 89) – ns to me bers 10 – – – (2,752,616) (2,752,616) 31, 20 13,3 4, 60 164,132,9 4 11,7 9,820 (1, 5,483) 18 ,071,42 s Public Workers’ Co-operative Cred t Union Limi ed d S atement of Changes in Equi y ended March 31, 2023 Barb dos olla s) 7 Notes Share capital $ St tutory reserves $ Other eserves $ (Accum lated deficit)/ Retained earnings $ Total $ 2 12,357,000 1 0 541,981 9 818,900 1 23 ,541 173 957,422 r the y ar – – – 11, 36,777 11 136,777 hensive income – – 2,566,079 – 2,566,079 20 634,800 – – – 634,800 shares 20 (91,080) – – – (91,080) tuto y reserv 21 – 7,49 , 81 – (7,49 , 81) – 21 – 26,450 – – 26,450 eci l r serves 22 – – 815,0 0 (815,080) – s rel a d to r tain d a nings 22 – – (921,849) 921,849 – erest n on-p rform g loa s 22 – – 1,006,958 (1 006,958) – o me bers 10 – – – (2,64 ,505) (2 646,505) 2022 12,900,72 158 063,412 1 285,168 1 334,6 3 185 583,943 r the y ar – – – 7,645,0 0 7 645,0 0 hensive income – – (2,861,065) – (2,861,065) 20 544,080 – – – 544,080 shares 20 (110,640) – – – (110,640) tuto y reserv 21 – 6,046,842 – (6,046,842) – 21 – 22,670 – – 22,670 eci l r serves 22 – – 1,093,624 (1 093,624) – s rel a d to r tain d a nings 22 – – (1,071,296) 071,296 – erest n on-p rform g loa s 22 – – 1,273,389 (1 273,389) – o me bers 10 – – – (2,752,616) ( 752,616) 2023 13,3 4,160 16 32,9 11 7 9,820 (1 115,483) 88 071,421
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