35 SEPARATE FINANCIAL STATEMENTS 2023 Barbados Public Workers’ Co-operative Credit Union Limited Separate Statement of Changes in Equity For the year ended March 31, 2023 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ Retained earnings $ At April 1, 2021 12,357,000 149,395,379 7,040,642 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 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 Net income for the year – – – 9,401,583 Other comprehensive loss – – (2,810,674) – Issue of shares 18 544,080 – – – Redemption of shares 18 (110,640) – – – Transfer to statutory reserves 19 – 6,046,842 – (6,046,842) Entrance fees 19 – 22,670 – – Transfer to special reserves 20 – – 1,093,624 (1,093,624) Special reserves released to retained earnings 20 – – (1,071,296) 1,071,296 Net reserve for interest on non-performing loans 20 – – 415,128 (415,128) Distributions to members 8 – – – (2,752,616) At March 31, 2023 13,334,160 162,810,107 7,628,628 4,916,110 The accompanying notes form an integral part of these separate financial statements. Barbados Public Workers’ Co- perative Credit Union Limited Separate Statement of Changes in Equity For the year ende March 31, 20 3 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ Retained earnings $ At April 1, 20 1 12,357,000 149,395,379 7,040,642 4,373,365 Net income for the y ar – – – 10,266,837 Other comprehensive income – – 3,037,714 – Issue of shares 18 634,800 – – – Redemption f shares 18 (91,080) – – – Transfer to statutory eserv s 19 – 7,318,766 – (7,318,766) Entrance f es 19 – 26,450 – – Transfer to special reserv s 20 – – 815,080 (815,080) Special reserves released to retained earnings 20 – – (921,848) 921,848 Net reserve for interest on non-perfo ming – – – – loans 20 – – 30,258 (30,258) Distributions to members 8 – – – (2,646,50 ) At March 31, 20 2 12,900,720 156,740,595 10,001,846 4,751,441 Net income for the y ar – – – 9,401,583 Other comprehensive loss – – (2,810,674) – Issue of shares 18 544,080 – – – Redemption f shares 18 (110,640) – – – Transfer to statutory eserv s 19 – 6,046,842 – (6,046,842) Entrance f es 19 – 22,670 – – Transfer to special reserv s 20 – – 1,093,624 (1,093,624) Special reserves released to retained earnings 20 – – (1,071,296) 1,071,296 Net reserve for interest on non-perfo ming loans 20 – – 415,128 (415,128) Distributions to members 8 – – – (2,752,61 ) At March 31, 20 3 13,334,160 162,810,107 7,628,628 4,916,110 The accompanying notes form an integral part of these eparate financial statem nts. Barbados Public Workers’ Co-operative Credit Un on Limited Separate Statement of Changes in Equ ty For the year ended March 31, 202 (expressed in Barbados dollars) Notes Share capital $ Statutory reserv $ Other reserv $ Retain d earnings $ At April 1, 2021 12,357,000 149,395,379 7,040,642 4,373,365 173, Net income f r the year – – – 10,266,837 10, Other comprehensiv incom – – 3,037,714 – 3, Issue of share 18 634,800 – – – Redemption of share 18 (91,080) – – – Transfer to sta utory reserv 19 – 7,318,766 – (7,318,766) Entrance fees 19 – 26,450 – – Transfer to special res rv 20 – – 815,0 0 (815,0 0) Special res rv rel ased to retained arnings 20 – – (921,848) 921,848 Net reserve for inte est on non-performing – – – – loans 20 – – 30,258 (30,258) Distributions o members 8 – – – (2,646,505) (2, At March 31, 2022 12,900,720 156,740,595 10,001,846 4,751,441 184, Net income f r the year – – – 9,401,583 9, Other comprehensiv loss – – (2,810,674) – (2, Issue of share 18 544,080 – – – Redemption of share 18 (110,640) – – – ( Transfer to sta utory reserv 19 – 6,046,842 – (6,046,842) Entrance fees 19 – 22,670 – – Transfer to special res rv 20 – – 1,093,624 (1,093,624) Special res rv rel ased to retained arnings 20 – – (1,071,296) 1,071,296 Net reserve for inte est on non-performing loans 20 – – 415,128 (415,128) Distributions o members 8 – – – (2,752,616) (2, At March 31, 2023 13,334,160 162,8 0,107 7,628,628 4,916,110 188, The accompanying notes f rm an integral part of these separate fin nc al st temen s. Barbados Public Workers’ Co- perative Credit Union L mited Separate Statement of Changes in Equity For the y ar end d March 31, 20 (express d in Barbados doll rs) Notes Share capital $ Statutory reserv s $ Other reserv s $ Retained arnings $ T At pril 1, 2021 12,357,000 149,3 5,37 7,040,642 4,373,365 173,166 Net incom for the yea – – – 10,266,837 10,266 Other comprehensive income – – 3,0 7,714 – 3,0 7 Issue of shar s 18 634,800 – – – 634 Redemption f shares 18 (91,080) – – – (91 Transfer to statutory re erv s 19 – 7,318,766 – (7,318,766) Entrance fees 19 – 26,450 – – 26 Transfer to special eserv s 20 – – 815,080 (815,080) Special reserv s rel as d to taine earnings 20 – – (921,848) 921,848 Net r serv for interest o non-perf rmi g – – – – loans 20 – – 30,258 (30,258) Distr butions to members 8 – – – (2,646,505) (2,646 At March 31, 2022 12,900,720 156,740,595 10,0 1,846 4,751,441 184,394 Net incom for the yea – – – 9,401,583 9,401 Other comprehensive loss – – (2,810,674) – (2,810 Issue of shar s 18 544,080 – – – 544 Redemption f shares 18 (110,640) – – – (110 Transfer to statutory re erv s 19 – 6,046,842 – (6,046,842) Entrance fees 19 – 22,670 – – 22 Transfer to special eserv s 20 – – 1,093,624 (1,093,624) Special reserv s rel as d to taine earnings 20 – – (1,071,296) 1,071,296 Net r serv for interest o non-perf rmi g loans 20 – – 415, 28 (415, 28) Distr butions to members 8 – – – (2,752,616) (2,752 At March 31, 2023 13,3 4,160 162,810, 7 7,628,628 4,916, 10 88,6 9 The accompanyi g notes form an integ al part of these separate financial statem nts. rb dos Pu lic Worke s’ Co-op ative Credit Union Limited arate Statement of Changes in Equity the year ended March 31, 2023 ressed in Barbados oll rs) 7 Notes Share capital $ tatutory reserv $ Other eserv $ Retained arnings $ Total $ pril 1, 2021 12,357,000 149 395,37 7 040,642 4 373,365 1 1 6,38 ncome f r the year – – – 10,266,837 10 266,837 r compr hensive in ome – – 3,037,714 – 3,037,714 e of shares 18 634, 00 – – – 634,800 emption of shares 18 (91,080) – – – (91,080) sfer to statutory res rves 19 – 7,318,766 – (7,318,766) – ance fees 19 – 26,450 – – 26,450 sfer to speci l reserves 20 – – 815,080 (815,080) – ial reserves rele sed to r tained rn gs 20 – – (921,848) 921,848 – eserve fo in erest on non-perfo ming – – – – – s 20 – – 30,258 (30,258) – ibution to members 8 – – – (2,646,505) (2 646,505) March 31, 2022 12,900,72 156 74 ,595 1 001,846 4 751, 41 184 394,602 ncome f r the year – – – 9,401,583 9 401,583 r compr hensive loss – – (2,810,674) – (2,810,674) e of shares 18 544,080 – – – 544,080 emption of shares 18 (110,640) – – – (110,640) sfer to statutory res rves 19 – 6,046,842 – (6,046,842) – ance fees 19 – 22,670 – – 22,670 sfer to speci l reserves 20 – – 1,093,624 (1 093,624) – ial reserves rele sed to r tained rn gs 20 – – (1,071,296) 071,296 – eserve fo in erest on non-perfo ming s 20 – – 415,128 (415,128) – ibution to members 8 – – – (2,752,616) ( 752,616) March 31, 2023 13,334,160 162 81 , 07 7 628,628 4 916,110 188 689,005 accompanying notes form an integral part of these separate financial statements. ados Public Workers’ Co- perativ C edit Union Lim ed e Statem nt of Changes in Equity yea ended M ch 31, 2023 ed in Barbados llars) 7 Notes Share capit l $ Statu o y rese ves O her r R tain d earning Total 1, 2021 12,357 000 149, 95 379 7,040 642 4,373 365 173,166 86 me for the year – 10,266 837 10, 7 mprehensive incom – 3,037 714 – 3,037 714 shares 18 634,800 – 634,800 ion of shares 18 (91,0 0) – (91,080) to statutory reserves 19 – 7,318 766 – (7,318 766) – fees 19 – 26,450 – 26,450 to special rese ves 20 – 815,080 ( ) – ese ves released to retained earnings 20 – (921,848) – ve fo int r st on non-performi g – 20 – 30,258 ( ) – ons to memb rs 8 – (2,646 505) (2,6 ) h 31, 2022 12,900 720 156,74 59 10,001 846 4,75 4 1 184,394 602 me for the year – 9,401 583 9, mprehensive loss – (2,810 674) – (2,810 674) shares 18 544,0 0 – 544,080 ion of shares 18 (110,640) – (110,640) to statutory reserves 19 – 6,04 8 2 – (6,04 8 2) – fees 19 – 22,670 – 22,670 to special rese ves 20 – 1,093 624 (1, ) – ese ves released to retained earnings 20 – (1,07 296) 1,0 – ve fo int r st on non-performi g 20 – 415,128 ( ) – ons to memb rs 8 – (2,75 616) (2,7 ) h 31, 2023 13,334 160 2,810 07 ,628 628 4,916 110 88,689 005 mpanying notes f rm a i tegral part of hese sep rate financi l st tement . dos Public Workers’ Co-operative Cr dit Union Lim ed St ement of Changes i Equity ar ende March 31, 2023 n Barb do dollars) 7 Notes Share capital $ Statutory reserves $ Other re erv $ R tained earning $ Total $ 2021 12,357,000 149,395,379 7,040,642 4,373,365 17 ,166,386 for h y ar – – – 10,266,837 10,266,837 ehensive i come – – 3,0 7,714 – 3,0 7,714 re 18 634,800 – – – 634,800 n of shares 18 (91,080) – – – (91,080) tatut ry eserves 19 – 7,318,766 – (7,318,766) – es 19 – 26,450 – – 26,450 pecial res rve 20 – – 815,080 (815, 0) – erv s relea d to retain d arnings 20 – – (921,848) 921, 48 – for int r st on non-perfo ming – – – – – 20 – – 30,258 (30,258) – ns to me ber 8 – – – (2,64 ,505) (2,64 ,505) 31, 2022 12,900,720 156,740,5 5 10, 01,846 4,75 ,441 18 ,394,602 for h y ar – – – 9,401,583 9,401,583 ehensive loss – – (2,810,674) – (2,810,674) re 18 544,080 – – – 544,080 n of shares 18 (1 0,640) – – – (110,640) tatut ry eserves 19 – 6,046,842 – (6,046,842) – es 19 – 22,670 – – 22,670 pecial res rve 20 – – 1,093,624 (1,093,624) – erv s relea d to retain d arnings 20 – – (1,071,296) 1,071,296 – for int r st on non-perfo ming 20 – – 415,128 (4 5,128) – ns to me ber 8 – – – (2,752,616) (2,752,616) 31, 2023 13,3 4,160 162,8 0,107 7,62 ,628 4,91 ,110 188, 89, 05 panyi g notes form an i tegral part of these eparate inancial statem nts.
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