45 CONSOLIDATED FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Changes in Equity For the year ended March 31, 2025 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ Retained earnings $ At April 1, 2023 13,334,160 164,132,924 11,719,820 (1,115,483 Net income for the year – – – 10,111,027 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 1,050,4 Net income for the year – – – 6,018,4 Other comprehensive income – – (519,247) Issue of shares 20 467,520 – – Redemption of shares 20 (132,720) – – Transfer to statutory reserves 21 – 190,097 – (190,09 Entrance fees 21 – 17,030 – Transfer to special reserves 22 – – 1,022,257 (1,022,25 Special reserves released to retained earnings 22 – – (824,375) 824,3 Reserve for interest on non-performing loans 22 – – 2,902,113 (2,902,11 Distributions to members 10 – – – (2,692,64 At March 31, 2025 13,985,580 168,667,919 14,867,135 1,086,1 The accompanying notes form an integral part of these consolidated financial statements. Barb dos Public Worke s’ Co-operative Credit Union Limited Consolidated S atement of Changes in Equity For the year ended March 31, 2025 (expressed in Barbados dollars) Notes Share capital $ Statutory reserves $ Other reserves $ Retained earnings $ At April 1, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) Net income for the year – – – 10,111,027 Other comprehensive income – – (285,810) – Issue of hares 20 431,580 – – – Redemption of shares 20 (114,960) – – – Transfe to statutory reserves 21 – 4,309,973 – (4,309,973) Entrance fees 21 – 17,895 – – Transfer to special r serves 22 – – 1,040,140 (1,040, 40) Special r serves relea ed to r tained earnings 22 – – (1,157,692) 1,157,692 Reserve fo interest on non-performing loa s 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 Net income for the year – – – 6,018,439 Other comprehensive income – – (519,247) – Issue of hares 20 467,520 – – – Redemption of shares 20 (132,720) – – – Transfe to statutory reserves 21 – 190,097 – (190,097) Entrance fees 21 – 17,030 – – Transfer to special r serves 22 – – 1,022,257 (1,022,257) Special r serves relea ed to r tained earnings 22 – – (824,375) 824,375 Reserve fo interest on non-performing loa s 22 – – 2,902,113 (2,902,113) Distributions to members 10 – – – (2,692,640) At March 31, 2025 13,985,580 168,667,919 14,867,135 1,086, 76 The accompanying notes form an integral part of these consolidated financial statemen s. arb dos Public Workers’ Co-operative Credit Union Limited nsolidated Statem nt of Changes in Equity r the year ended March 31, 2025 pressed in Barbados dollars) Notes Share capital $ Statutory reserv $ Other reserv s $ Retain d earnings $ April 1, 2023 13,334,160 164,132,924 11,719,820 (1,115,483) 188 t income f r the year – – – 10,11 ,027 10 her comprehensive income – – (285,810) – ( ue of share 20 431,580 – – – demption of share 20 (114,960) – – – ( ansfer to sta utory reserv 21 – 4,309,973 – (4,309,973) trance fees 21 – 17,895 – – ansfer to special serv s 22 – – 1,040,140 (1,040,140) ecial reserves relea d to retained earnings 22 – – (1,157,692) 1,157,692 serve for interest on non-perf rming loans 22 – – 969,929 (969,929) stributions o members 10 – – – (2,782,725) (2 March 31, 2024 13,650,780 168,460,792 12,286,387 1,050,469 19 t income f r the year – – – 6,018,439 her comprehensive income – – (519,247) – ue of share 20 467,520 – – – demption of share 20 (132,720) – – – ansfer to sta utory reserv 21 – 190,097 – (190,097) trance fees 21 – 17,030 – – ansfer to special serv s 22 – – 1,022,257 (1,022,257) ecial reserves relea d to retained earnings 22 – – (824,375) 824,375 serve for interest on non-perf rming loans 22 – – 2,902,113 (2,902,113) stributions o members 10 – – – (2,692,640) (2 March 31, 2025 13,985,580 168,667,919 14,867,135 1,086,176 19 e accompanying notes form an integral pa t of these consolidated financi l statements. bados Pu lic Workers’ C -operativ Credit Union Lim ted olidated Statement of Changes in Equity e year end d March 31, 2025 sed in Barbados dollars) Notes Share capital $ t tu ory reserv s $ Other ese ves $ Retained earnings $ T ril 1, 2023 13,334,160 16 ,132,924 11,7 9,820 (1,115,483) 88,071 ome for th year – – – 10,1 1,027 0,1 1 comprehensive incom – – (285,810) – (285 f shares 20 431,580 – – – 431 ption of shar s 20 (114,960) – – – (114 er to statutory r se ves 21 – 4,309,973 – (4,309,973) ce fe s 21 – 17,895 – – 17 er to special re ves 22 – – 1,040,1 (1,0 ,1 0) l reserves released to r tained earnings 22 – – (1,157,692) 1,157,692 e for inter st on non-performing l ans 22 – – 969,92 (969,92 ) ut on to mem rs 10 – – – (2,78 ,725) ( , 8 rch 31, 2024 13,650,780 168,4 ,792 12,286,3 7 1,050,469 1 5, 4 ome for th year – – – 6,018,439 6,01 comprehensive incom – – (519,247) – (51 f shares 20 467,520 – – – 46 ption of shar s 20 (132,720) – – – (13 er to statutory r se ves 21 – 190,0 7 – (190,0 7) ce fe s 21 – 17,030 – – 1 er to special re ves 22 – – 1,022,257 (1,022,257) l reserves released to r tained earnings 22 – – (824,375) 824,375 e for inter st on non-performing l ans 22 – – 2,90 ,113 (2,902,113) ut on to mem rs 10 – – – (2,692,640) ( , 9 rch 31, 2025 13,985,580 168,6 7,9 9 14,867,135 1,086,176 198,60 companying notes form a integral par of these c nsolidated financia stateme t . dos Public Workers’ Co-operative Cred t Union L mited ted Statement of Changes in Equity ar ended March 31, 2025 n Barbados ollars) Notes Share capital $ Statutory reserves $ Othe r erves $ R tained earnings $ Total $ 2023 13,334,160 164,132,92 1,719,820 (1,115,4 3) 188,07 ,421 for the year – – – 10,111,027 10,111,027 r hensive income – – (285,810) – (285,810) re 20 431,58 – – – 431,580 of shares 20 (114,96 ) – – – (114,960) statutory reserv s 21 – 4,309,973 – (4,309,973) – es 21 – 17,895 – – 17,895 speci l reserves 22 – – 1,040,1 0 (1,040,140) – rv s leas d to retained earnings 22 – – (1,157,692) 1,157,692 – interest on non-performing loans 22 – – 969,92 (969,92 ) – s to members 10 – – – (2,782,725) ( ,782,725) 31, 2024 13,650,780 168,460,792 12,286,387 1,050,469 195,448,42 for the year – – – 6,018,439 6,018,43 r hensive income – – (519,247) – (519,247 re 20 467,520 – – – 467,52 of shares 20 (132,720) – – – (132,720 statutory reserv s 21 – 190,0 7 – (190,0 7) es 21 – 17,030 – – 17,03 speci l reserves 22 – – 1,022,257 (1 022,257) rv s leas d to retained earnings 22 – – (824,375) 8 5 interest on non-performing loans 22 – – 2,902,113 (2 902,1 3) s to members 10 – – – (2,692,640) (2,692,640 31, 2025 13,985,580 168,667,919 14,867,135 1,08 ,176 198,606,8 anying notes form an integr l part f th se consolidated ina cial statements. Public Workers’ Co- perative C edit Union Limited Statement of Changes in Equity nd d M ch 31, 2025 rbados dollars) 7 Notes Share capit l $ Statu o y rese ves $ Other rese v s Retained earning $ Total $ 3 13,334 160 164, 32,924 11,7 9 820 (1,115,483) 188,071 42 he y ar – 10,1 1 027 1 ,1 ,027 nsive incom – (285,810) – (285,810) 20 431,580 – 431,580 hares 20 (114,960) – (114,960) tory eserves 21 – 4,309 973 – (4,309 973) – 21 – 17,895 – 17,895 al r erv s 22 – 1,040 1 ( ,040,1 ) – eleased to re ain d arnings 22 – (1,157 692) 1,157 692 – r s on n -performi g loans 22 – 969, 2 (969, 2 ) – members 10 – (2,78 25) (2,78 , 25) 024 13,650 78 168,4 0,792 12,28 3 7 1,050,469 1 5,448, 2 he y ar – 6,018 439 6, 18,439 nsive incom – (519,247) – (519,247) 20 467,520 – 467,520 hares 20 (132,720) – (132,720) tory eserves 21 – 190,0 7 – (190,0 7) – 21 – 17,030 – 17,030 al r erv s 22 – 1,022 257 (1,022 257) – eleased to re ain d arnings 22 – (824,375) 824,375 – r s on n -performi g loans 22 – 2,90 113 (2 90 113) – members 10 – (2,69 40) (2, 9 , 40) 025 13,985 5 0 168,6 7 919 14,867,135 ,086,17 198,606 810 ng notes form an integral part of these c nsolidated financi l tatem nt . ublic Workers’ Co- p ative r dit Un on L m ted m nt f Changes in Equity ed M rch 31, 2025 dos dollar ) 7 Notes Share capit l $ Statutory reserv s $ Other reserv s $ Retained a nings $ Total $ 13,3 4,160 164, 2,924 11,719,8 0 (1, 5,483) 88,071,421 year – – – 10,111,027 1 , 11,027 e ncom – – (285, 10) – (285, 10) 20 431,580 – – – 431,580 es 20 (114,960) – – – (114,960) y res rves 21 – 4,309,973 – (4,309,973) – 21 – 17,895 – – 17,895 es rves 22 – – 1,040,140 ( , 40,140) – ased to retained arnings 22 – – (1,157,692) 1,157,692 – on no -perf ming loans 22 – – 969,929 ( 69,929) – mbers 10 – – – (2,782,7 5) (2,782,7 5) 13,650,780 168,460,792 12, 6,387 1,050,4 9 9 ,448,428 year – – – 6,018,439 6,018,439 e ncom – – (519,247) – (519,247) 20 467,5 – – – 467,520 es 20 (132,7 0) – – – (132,720) y res rves 21 – 190,097 – (190,097) – 21 – 17,030 – – 17,030 es rves 22 – – 1,022,257 (1,02 , 57) – ased to retained arnings 22 – – (824,375) 824,375 – on no -perf ming loans 22 – – 2,902,113 (2,902,113) – mbers 10 – – – (2,692,640) (2,692,640) 13,985,580 16 ,667,9 9 14,867, 35 ,086,1 6 98,606, 10 n tes form an integral pa t o th e cons lidated financial statemen .
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