73 SEPARATE FINANCIAL STATEMENTS 2024 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2024 (expressed in Barbados dollars) 39 12 Property and equipment …continued As at March 31, 2024, land and buildings includes right-of-use assets of $1,270,972 (2023: $2,122,217) related to the Credit Union’s leased branches and office premises. Set out below, are the carrying amounts of the Credit Union’s right-of-use assets and lease liabilities and the movements during the year: 2024 Right of use property $ Lease liability $ Balance at April 1, 2023 2,122,217 2,280,339 Depreciation expense (851,245) – Interest expense – 91,885 Lease payments (principal and interest) – (1,023,065) As at March 31, 2024 1,270,972 1,349,159 Additions to the right-of-use asset during the year were $nil (2023: $186,231). 2023 Right of use property $ Lease liability $ Balance at April 1, 2022 2,794,199 2,968,737 Depreciation expense (858,213) – Interest expense – 137,446 Additions 186,231 – Lease payments (principal and interest) – (825,844) As at March 31, 2023 2,122,217 2,280,339
RkJQdWJsaXNoZXIy MTA2MDM=