42 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Cash Flows …continued For the year ended March 31, 2023 (expressed in Barbados dollars) 10 Notes 2023 $ 2022 $ Brought forward (13,004,971) 30,317,182 Cash flows from financing activities Repayment of loans payable (44,813) (40,179) Principal portion of lease liability (1,593,943) (1,855,357) Entrance fees received 21 22,670 26,450 Issue of shares 20 544,080 634,800 Redemption of shares 20 (110,640) (91,080) Distributions to members 10 (2,752,617) (2,646,505) Net cash used in financing activities (3,935,263) (3,971,871) Net (decrease)/increase in cash and cash equivalents (16,940,234) 26,345,311 Cash and cash equivalents, beginning of year 388,880,049 362,534,738 Cash and cash equivalents, end of year 11 371,939,815 388,880,049 The accompanying notes form an integral part of these consolidated financial statements.
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