131 CONSOLIDATED FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 93 26 Fair Value …continued The fair values of financial assets and liabilities, together with the carrying amounts shown in the consolidated statement of financial position are shown in the table below: 2025 2024 Carrying amount $ Fair value $ Carrying amount $ Fair value $ Assets Cash resources 460,866,012 460,866,012 424,387,613 424,387,613 Financial investments - Amortised cost 40,588,462 40,588,462 38,231,138 38,231,138 - FVOCI 4,129,015 4,129,015 4,115,989 4,115,989 - FVPL 10,059,452 10,059,452 10,059,452 10,059,452 Loans and advances 1,378,436,569 1,380,578,796 1,394,550,074 1,396,572,744 Other assets 45,541,619 45,541,619 23,610,049 23,610,049 1,939,621,129 1,941,763,356 1,894,954,315 1,896,976,985 Liabilities Deposits 1,750,586,136 1,802,702,549 1,714,654,105 1,773,037,343 Loan payable – – 1,181,900 1,181,900 Reimbursable shares 32,619,237 32,619,237 27,361,694 27,361,694 Other liabilities 24,219,364 24,219,364 21,779,470 21,779,470 1,807,424,737 1,859,541,150 1,764,977,169 1,823,360,407 Determination of fair value and fair value hierarchy The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities. The fair value of financial instruments traded in active markets is based on quoted market prices at the consolidated statement of financial position date. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry Group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The quoted market price used for financial assets held by the Group is the current bid price, these instruments are included in Level 1.
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