78 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2025 (expressed in Barbados dollars) 40 12 Financial Investments 2025 $ 2024 $ Debt securities: Amortised cost Sovereign bonds 40,462,038 38,206,850 Interest receivable 300,540 156,491 Gross debt securities 40,762,578 38,363,341 Less: expected credit loss allowance (174,116) (132,203) Total debt securities 40,588,462 38,231,138 Equities securities: FVOCI Corporate equity - quoted 1,363,235 1,203,436 Corporate equity - unquoted 2,765,780 2,912,553 Total equity securities 4,129,015 4,115,989 FVTPL Preferred shares 10,000,000 10,000,000 Interest receivable 59,452 59,452 Total equity securities 10,059,452 10,059,452 Total financial investments 52,776,929 52,406,579 The movement in expected credit loss allowance on debt investments at amortised cost is as follows: 2025 $ 2024 $ Balance at beginning of year 132,203 3,147 Expected credit loss on investments 41,913 129,056 Balance at end of year 174,116 132,203 The expected credit loss allowance at March 31, 2025 relating to debt securities classified as stage 1 was $174,116 (2024 - $132,203).
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