47 CONSOLIDATED FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Changes in Equity For the year ended March 31, 2024 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ Retained earnings $ At April 1, 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 – – – (2,752,617 At March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483 Net income for the year – – – 10,111,0 Other comprehensive income – – (285,810) – Issue of shares 20 431,580 – – – Redemption of shares 20 (114,960) – – – Transfer to statutory reserves 21 – 4,309,973 – (4,309,973 Entrance fees 21 – 17,895 – – Transfer to special reserves 22 – – 1,040,140 (1,040,140 Special reserves released to retained earnings 22 – – (1,157,692) 1,157,692 Reserve for interest on non-performing loans 22 – – 969,929 (969,929 Distributions to members 10 – – – (2,782,725 At March 31, 2024 13,650,780 168,460,792 12,286,387 1,050,469 The accompanying notes form an integral part of these consolidated financial statements. do u li k s op a i Cr n m onso idated t teme C a E Fo t e yea e de h (ex r s d ar d r S s es r ve R a n g A r 12,9 0 158,063 13,2 5 1,3 4 t 7,645 Ot ompre i e – (2,861 – u f 544 ede f 110 – T ns er o ta r s 6,046 – (6,046 22 T an f es 1,093 4 (1,093 S ec a re erves e ed o ret in n ngs – (1 071 1,071 Res r e fo int st on no p rfor n 1,273 9 (1,273 D s on t – (2,752 7 A arc 13,334 164,132 11,719 0 (1 115 t 0 111 02 Ot ompre i e – 285 – u f 431 ede f 114 – T ns er o ta r s 4,309 – (4,309 17 T an f es 1,040 0 (1,040 S ec a re erves e ed o ret in n ngs – (1 157 1,157 Res r e fo int st on no p rfor n 969 9 969 D s on t – (2,782 5 A arc 13,650 168,460 12,286 1,050 The ompany n no es form an integ a par o th se con oli ate i an Barbados Public Worke s’ Co-operative Credit Union Limited Consolidated Statement of Changes in Equity For the year ended March 31, 2024 (expressed in Barbados dollars) Notes Share capital $ Statutory reserv $ Other reserv $ Retain d earnings $ At April 1, 2022 12,900,72 158,063,412 13,285,16 1,334,64 Net income f r the year – – – 7,645,050 Other comprehensiv income – – (2,861,065) – Issue of share 20 544,080 – – – Redemption of share 20 (110,640) – – – Transfer to statutory reserv s 21 – 6,046,842 – (6,046,842) Entrance fees 21 – 22,670 – – Transfer to special r serv 22 – – 1,093,624 (1,093,624) Special reserv s released to retained earnings 22 – – (1,071,296) 1,071,296 Reserv fo inte est on non-performing loa s 22 – – 1,273,389 (1,273,389) Distributions o members 10 – – – (2,752,617) At March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) Net income f r the year – – – 10,11 , 27 Other comprehensiv income – – (285,810) – Issue of share 20 431,580 – – – Redemption of share 20 (114,960) – – – Transfer to statutory reserv s 21 – 4,309,973 – (4,309,973) Entrance fees 21 – 17,895 – – Transfer to special r serv 22 – – 1,040,140 (1,040, 40) Special reserv s released to retained earnings 22 – – (1,157,692) 1,157,692 Reserv fo inte est on non-performing loa s 22 – – 969,929 (969,929) Distributions o members 10 – – – (2,782,725) At March 31, 2024 13,650,780 168,460,792 12,286,387 1,050,469 The accompanying notes form an integral pa t of these consolidated financ al statements. arbados Public Workers’ Co-operative Credit Union Limited nsolidated S atem nt of Changes in Equity r the year ended March 31, 2024 pressed in Barbados doll rs) Notes Share capital $ Statutory reserv s $ Other reserv s $ Retained earnings $ April 1, 2022 12,900,72 158,063,412 13,285,16 1,334,64 185 t income for the year – – – 7,645,050 7 her comprehensive income – – (2,861,065) – (2 ue of share 20 544,080 – – – demption of shares 20 (110,640) – – – ( nsfer to statutory reserves 21 – 6,046,842 – (6,046,842) rance fees 21 – 22,670 – – nsfe to special serv s 22 – – 1,093,624 (1,093,624) ecial reserv s relea ed to retained earnings 22 – – (1,071,296) 1,071,296 serve fo interest on non-perf rming loans 22 – – 1,273,389 (1,273,389) tributions to members 10 – – – (2,752,617) (2 March 31, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) 188 t income for the year – – – 10,111, 27 0 her comprehensive income – – (285,810) – ( ue of share 20 431,580 – – – demption of shares 20 (114,960) – – – ( nsfer to statutory reserves 21 – 4,309,973 – (4,309,973) rance fees 21 – 17,895 – – nsfe to special serv s 22 – – 1,040,140 (1,040, 40) ecial reserv s relea ed to retained earnings 22 – – (1,157,692) 1,157,692 serve fo interest on non-perf rming loans 22 – – 969,929 (969,929) tributions to members 10 – – – (2,782,725) ( March 31, 2024 13,650,780 168,460,792 12,286,387 1,050,469 195 e accompanying notes form an integral part of these con olidated financi l statemen s. bados Public Workers’ C -operative Credi Union Lim ted lidated Statement of Changes in Equity e year nded March 31, 2024 sed in Barba o dollars) Notes Share capit l $ Statu ory rese ves $ Other res rves $ Retained arnings $ T il 1, 2022 12,900 72 158,063 412 13,285 168 1,334 643 185,5 3, ome for the year – – – 7,645 050 7,64 , omprehensiv income – – (2,861 0 5) – (2,861, shares 20 544,080 – – – 544, ption of shares 20 (11 ,64 ) – – – (110, r to statutory reserve 21 – 6,04 8 2 – (6,04 8 2) e fees 21 – 22,670 – – 22, r to special re e ves 22 – – 1,093 624 (1,093 624) reserves released to e ain d earnings 22 – – (1,07 296) 1,07 296 e for interest on no -performing l ans 22 – – 1,273 389 (1,273 389) utions t members 10 – – – (2,75 617) (2,75 , rch 31, 2023 13,334 160 64, 32 924 1,7 9 820 (1,115 483) 188,071, ome for the year – – – 10,1 1 027 10, 1, omprehensiv income – – (285,810) – (285, shares 20 431,580 – – – 431, ption of shares 20 (114,960) – – – (114, r to statutory reserve 21 – 4,309 973 – (4,309 973) e fees 21 – 17,895 – – 17, r to special re e ves 22 – – 1,040 1 (1,040 1 ) reserves released to e ain d earnings 22 – – (1,157 692) 1,157 692 e for interest on no -performing l ans 22 – – 969, 2 (969, 2 ) utions t members 10 – – – (2,78 25) (2,78 , rch 31, 2024 13,650 78 1 8,4 0 792 12,286 3 7 1,050 469 19 ,4 8, ompanying notes form an integral part of these consolidated financi l st ments. os Public Worke s’ Co-operative Credit Union Lim ted ed Statement of Changes in Equity r ended March 31, 2024 Barbado dollars) 7 Notes Share capital $ tatutory reserv $ O her res rv $ Retained a nings $ Total $ 022 12,900,720 158,063,4 2 13,285,168 1, 34,64 185,583,943 or the y ar – – – 7,645,050 7,645,050 ehensive income – – (2,861,065) – (2,861,065) es 20 544,080 – – – 544,080 of shar s 20 (110,640) – – – (110,640) a utory reserves 21 – 6,046,842 – (6,046,842) – s 21 – 22,670 – – 22,670 pecial rese v 22 – – 1,093,624 (1,093,624) – v released to etained earnings 22 – – (1,071,296) 1,071,296 – nterest on non-performing l a s 22 – – 1,273,389 (1,273, 89) – o members 10 – – – (2,752,617) (2,752,617) 1, 2023 13,334,160 164,132,924 11,719,820 (1, 15,483) 188,071,421 or the y ar – – – 10,11 ,027 10,11 ,027 ehensive income – – (285,810) – (285,810) es 20 431,580 – – – 431,580 of shar s 20 (114,960) – – – (114,960) a utory reserves 21 – 4,309,973 – (4,309,973) – s 21 – 17,895 – – 17,895 pecial rese v 22 – – 1,040,140 (1,04 ,140) – v released to etained earnings 22 – – (1,157,692) 1, 57,692 – nterest on non-performing l a s 22 – – 969,929 (96 , 29) – o members 10 – – – (2,782,725) (2,782,725) 1, 2024 13,650,780 168,460,792 12,286,387 1,050,469 195,448,428 nying notes f rm an integral part of these consolidated financial st eme . Public Worker ’ C -operativ Credit Unio Limite atemen of Cha g s in Equity ded March 31, 2024 a o dollars) 7 Notes Share capital $ St tutory reserv s $ Other eserv $ Retain d ea nings $ Total $ 12,900,72 158,063,412 3,285,168 1, 34,643 185,58 ,943 year – – – 7,645,050 7,645,050 ive income – – (2,861,065) – (2,861,065) 20 544,08 – – – 544,080 are 20 (110,64 ) – – – (110,640) y r serve 21 – 6,046,842 – (6,046,842) – 21 – 22,670 – – 22,670 rese v 22 – – 1,093,624 (1,093,624) – l ased to reta ned earnings 22 – – (1,071,296) 1,071,296 – t on n n-performi g loa s 22 – – 1,273,389 (1,273, 89) – em ers 10 – – – (2,752,617) (2,752,617) 3 13,334,160 4, 32,924 11,719,820 (1, 15,483) 1 8,071,42 year – – – 10,11 ,027 10, 1 ,027 ive income – – (285,810) – (285,810) 20 431,58 – – – 431,580 are 20 (114,96 ) – – – (114,960) y r serve 21 – 4,309,973 – (4,309,973) – 21 – 17,895 – – 17,895 rese v 22 – – 1,040,140 (1,0 ,140) – l ased to reta ned earnings 22 – – (1,157,692) 1, 57,692 – t on n n-performi g loa s 22 – – 969,929 ( 6 , 2 ) – em ers 10 – – – (2,782,725) (2, 82,7 5) 4 13,650,780 168,46 ,792 1 ,286,3 7 1,050,469 195, 48,428 g notes form a integral part of these consolida ed financ al statements. lic Workers’ Co- perative C edit Union Limited m nt of Chang s in Equity March 31, 2024 s ollars) 7 Notes Share capit l $ Statuto y reserv s $ Other reserv $ R tain d earning $ Total $ 12,900,720 158,063,412 13,28 ,168 1,334,6 3 85,583,94 ar – – – 7,645,0 0 7,645,0 0 ncome – – (2,861,065) – (2,861,065) 20 544,080 – – – 544,080 20 (110,640) – – – (110,640) eserves 21 – 6,046,842 – (6,046,842) – 21 – 22,670 – – 22,670 erv 22 – – 1,093,624 (1,093,624) – sed to retain d a n ngs 22 – – (1,071,296) 1,071,296 – n n n-p rforming l ans 22 – – 1,273,389 (1,273,389) – bers 10 – – – (2,752,617) (2,752,617) 13,3 4,160 164,132,92 11,7 9,820 (1,1 5,483) 188,071,42 ar – – – 10,111,027 10,11 ,027 ncome – – (285,810) – (285,810) 20 431,580 – – – 431,580 20 (114,960) – – – (114,960) eserves 21 – 4,309,973 – (4,309,973) – 21 – 17,895 – – 17,895 erv 22 – – 1,040,140 (1,040,140) – sed to retain d a n ngs 22 – – (1,157,692) 1,157,692 – n n n-p rforming l ans 22 – – 969,929 (969,929) – bers 10 – – – (2,782,7 5) (2,782,7 5) 13,650,780 168,460,792 12,28 ,387 1,050,469 195,448,428 tes form an integral p rt of these co solidated financial tatem nts.
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