90 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) 52 16 Other Assets Other assets are comprised of the following: Notes 2025 $ 2024 $ Accounts receivable (i) 30,579,315 23,570,263 Prepaid investment (ii) 15,000,000 – Prepaid employee benefit 19 1,770,586 2,337,666 Prepaid expenses 4,828,532 4,324,538 Other assets re Goodwill Group 28 39,786 39,786 52,218,219 30,272,253 (i) Accounts receivable are recorded at their invoiced amounts and are non-interest bearing. Expected credit loss allowance totalling $485,561 (2024 – $ Nil) is included within accounts receivable. (ii) Prepaid investment relates to amounts paid on March 31, 2025 which has an effective date of April 1, 2025. 17 Deposits i) This amount comprises: 2025 $ 2024 $ Saving deposits 866,692,959 869,674,596 Deposits payable on fixed date 828,620,808 789,142,794 Registered retirement savings plan deposits (a) 50,810,622 51,082,085 1,746,124,389 1,709,899,475 Interest payable 4,461,747 4,754,630 1,750,586,136 1,714,654,105 (a) The Group operates two registered retirement savings plans for the benefit of its members. The legacy plan guarantees a minimum return on plan deposits of 5.0% while the new plan guarantees 1.0% above the minimum deposit rate. At March 31, 2025, the minimum deposit rate was 0.5% (2024 - 0.5%).
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