39 SEPARATE FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Separate 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 13,334,160 162,810,107 7,628,628 4,916,110 Net income for the year – – – 8,820,458 Other comprehensive loss – – (207,635) – Issue of shares 18 431,580 – – – Redemption of shares 18 (114,960) – – Transfer to statutory reserves 19 – 4,097,877 – (4,097,877) Entrance fees 19 – 17,895 – – Transfer to special reserves 20 – – 1,040,140 (1,040,140) Special reserves released to retained earnings 20 – – (1,157,692) 1,157,692 Net reserve for interest on non-performing loans 20 – – 969,400 (969,400) Distributions to members 8 – – – (2,782,725) At March 31, 2024 13,650,780 166,925,879 8,272,841 6,004,118 Net income for the year – – – 5,177,556 Other comprehensive loss – – (593,642) – Issue of shares 18 467,520 – – – Redemption of shares 18 (132,720) – – – Transfer to statutory reserves 19 – 34,364 – (34,364) Entrance fees 19 – 17,030 – – Transfer to special reserves 20 – – 1,022,257 (1,022,257) Special reserves released to retained earnings 20 – – (824,375) 824,375 Net reserve for interest on non-performing loans 20 – – 1,445,710 (1,445,710) Distributions to members 8 – – – (2,696,190) At March 31, 2025 13,985,580 166,977,273 9,322,791 6,807,528 The accompanying notes form an integral part of these separate financial statements. Barbados Public Workers’ Co-operative Credit Union Limited Separ te 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 13,334,160 162,810,107 7,628,628 4,916,110 Net income for the year – – – 8,820,458 Other compreh nsive loss – – (207,635) – Issue of shares 18 431,580 – – – Red mption of shares 18 (114,960) – – Transfer to statutory eserves 19 – 4,097,877 – (4,097,877) Entrance f es 19 – 17,895 – – Transfer to special res rves 20 – – 1,040,140 (1,040,140) Special res rves released to retained earni gs 20 – – (1,157,692) 1,157,692 Net reserve for interest on non-performing loans 20 – – 969,400 (96 ,400) Distributions to members 8 – – – (2,782,725) At March 31, 20 4 13,650,780 166,925,879 8,27 ,841 6,004,118 Net income for the year – – – 5,177,556 Other compreh nsive loss – – (593,642) – Issue of shares 18 467,520 – – – Red mption of shares 18 (132,720) – – – Transfer to statutory res rves 19 – 34,364 – (34,364) Entrance f es 19 – 17,030 – – Transfer to special res rves 20 – – 1,022, 57 (1,022,257) Special res rves released to retained earni gs 20 – – (824,375) 824,375 Net reserve for interest on non-performing loans 20 – – 1,445,710 (1,445,710) Distributions to members 8 – – – (2,696,190) At March 31, 2025 13,985,580 166,977,273 9,322,791 6,807,528 The accompanying notes form an integral part of these separate fina cial statements. e 7 Barbados Public Workers’ Co-operativ Cr dit Union Limited Separate Stat men 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 13,334,160 162,810,107 7,628,628 4,916,110 188,6 Net income for th year – – – 8,820,45 8,8 Other comprehensive lo s – – (207,635) – (2 Issue of shares 18 431,580 – – – 4 Redemption of shares 18 (114,960) – – (1 Transfer to statutory rese ves 19 – 4,097,877 – (4,097,877) Entrance fees 19 – 17,895 – – Transfer to special re erves 20 – – 1,040,14 (1,040,14 ) Special reserves released to retained earn gs 20 – – (1,157,692) 1,157,692 Net reserve for interest on non-perf rming loans 20 – – 969,400 (969,400) Distributions to members 8 – – – (2,782,725) (2,7 At March 31, 2024 13,650,780 166,925,87 8,272,841 6,004,118 194,8 Net income for th year – – – 5,177,556 5 Other comprehensive lo s – – (593,642) – (5 Issue of shares 18 467,520 – – – Redemption of shares 18 (132,720) – – – (1 Transfer to statutory rese ves 19 – 34,364 – (34,364) Entrance fees 19 – 17,030 – – Transfer to special re erves 20 – – 1,022,257 (1,022,257) Special reserves released to r tained earn gs 20 – – (824,375) 824,375 Net reserve for interest on non-perf rming loans 20 – – 1,445,710 (1,445,710) Distributions to members 8 – – – (2,696,190) (2,6 At March 31, 2025 13,985,580 166,977,273 9,322,791 6,807,52 197 The accompanying notes form an integral part of these separate financial statements. Barbados Public Workers’ Co-operative Credit Union Lim ted Separate Statem nt of Changes in Equity For the y a ended March 31, 2025 (expressed in Barb dos doll s) Notes Share capital $ Statutory reserv s $ Other reserves $ Retained earnings $ To At pril 1, 2023 13,3 4,160 62,810, 07 ,628,628 4,916, 10 88,6 9, Net income for the y ar – – – 8,820,458 ,820, Other comprehensive loss – – (207,635) – (207, Issue of shares 18 431,580 – – – 431, Redemption of shares 18 (114,960) – – (114, Transfer to statutory reserves 19 – 4,097,8 7 – (4,097,8 7) Entrance fe s 19 – 17,895 – – 17, Transfer to special reserv s 20 – – 1,040,140 ( ,040,140) Special reserv s releas d to ret ined arnings 20 – – (1,157,692) 1,157,692 Net r serv for inter st on non-p rforming loans 20 – – 969,400 (969,400) Distr butions o members 8 – – – (2,782,7 5) (2,782, At March 31, 2024 13,650,780 166,925,879 ,272,841 6,004,118 94,853, Net income for the y ar – – – 5,177,556 ,177 Other comprehensive loss – – (593,642) – (593 Issue of share 18 467,520 – – – 467 Redemption of shares 18 (132,7 0) – – – (132 Transfer to statutory reserves 19 – 34, 64 – (34, 64) Entrance fe s 19 – 17,030 – – 17 Transfer to special reserv s 20 – – 1,022,257 (1,022, 57) Special reserv s releas d to ret ined arnings 20 – – (824,375) 824,375 Net r serv for inter st on non-p rforming loans 20 – – 1,445,710 ( ,445,710) Distr butions o members 8 – – – (2,696,190) (2,696 At March 31, 2025 13,985,580 166,977,273 9,322,791 6,807,528 197,093 The accompanyi g otes form a integral p rt of these separate financi l statem nts. rb dos Public Worke s’ Co-operative Credit Unio L mited arate St tement of Changes i Equity the year end d March 31, 2025 essed in Barbados dollars) 7 Notes Share capital $ Statutory reserv $ Other reserve $ Retain d arnings $ Total $ pril 1, 2023 13,334,160 162,8 0, 07 7,628,628 4,916,110 88,689,0 5 ncom for the yea – – – 8,820,45 8,820,45 r compr hensive loss – – (207,635) – (207,635) of shar s 18 431,580 – – – 431,580 mption of shares 18 (1 4,960) – – (114,960) sfer to sta utory reserve 19 – 4,097,877 – (4,097,877) – nce fees 19 – 17,895 – – 17,895 sfer to special res v 20 – – 1,040,140 (1,040,140) – al reserve el ased to retained earnings 20 – – (1,157,692) 1,157,692 – es rv for inte est o non-performing 20 – – 969,400 (969,400) – ibutions t mem ers 8 – – – (2,782,725) (2,78 ,725) March 31, 2024 13,650,780 166,925, 79 8,272,841 6,00 ,118 94,853,618 ncom for the yea – – – 5,177,556 5,177,556 r compr hensive loss – – (593,642) – (593,642) of shar s 18 467,520 – – – 467,520 mption of shares 18 ( 32,720) – – – (132,720) sfer to sta utory reserve 19 – 34,364 – (34,364) – nce fees 19 – 17,030 – – 17,030 sfer to special res v 20 – – 1,022,257 (1,022,257) – al reserve el ased to retained earnings 20 – – (824,375) 824,375 – es rv for inte est o non-performing – 20 – – 1,445,710 ( 4 ) – ibutions t mem ers 8 – – – (2,696,190) (2,696,190) March 31, 2025 13,985,580 166,977,273 9,3 2, 91 6,807,528 197,093, 72 ccompanying notes f rm a integr l pa t of these separate financial stateme ts. ados Public W rkers’ Co- perative Credit Un on Lim ted e Statement of Changes in Equity year nded March 31, 2025 d in Barbados dollars) 7 Notes Share capit l $ Statutory rese ves $ Other reserv s $ Retained earnings $ Total $ 1, 2023 13,334,160 162,810,107 7, 8, 4,916,1 0 188,689,005 me for the year – – – 8,820,458 8,820,458 mprehensive loss – – (207,635) – (207,635) hare 18 431,580 – – – 431,580 ion of shares 18 (114,960) – – (114,960) to statu ory rese ves 19 – 4,097,87 – (4,097,877) – fe s 19 – 17,895 – – 17,895 to special rese ves 20 – – 1,040,1 ( ,040,140) – ese ves r leased to retain d earnings 20 – – (1,157,692) 1,157,692 – ve for interest on non-p forming 20 – – 969,400 (969,400) – on to membe 8 – – – (2,78 , 25) (2,782,725) h 31, 2024 13,650,78 166,925,879 ,272,841 6,004,118 194,853,618 me for the year – – – 5,177,556 ,177,556 mprehensive loss – – (593,642) – (593,642) hare 18 467,520 – – – 467,520 ion of shares 18 (132,720) – – – (132,720) to statu ory rese ves 19 – 34,36 – (34,36 ) – fe s 19 – 17,030 – – 17,030 to special rese ves 20 – – 1,022,257 (1,02 , 57) – ese ves r leased to retain d earnings 20 – – (824,375) 82 – ve for interest on non-p forming – 20 – – 1,445,710 (1,445,710) – on to membe 8 – – – (2,696,190) (2,696,190) h 31, 2025 13,985,5 0 166,977,2 3 9,322, 91 6,807,5 8 197,093,1 2 mpanying notes form an integral p rt of hese separate financial statements. os Public Workers’ C -operative Cr di Union Lim ted tatemen of Chang s in Equ ty ar nded Marc 31, 2025 n Barbado dollar ) 7 Notes Share capital $ Statutory reserv s $ O her re e v s $ R tained earnings $ Total $ 2023 13,3 4, 60 162,810 7 7,628 628 4,916 10 188, 9 005 for he year – – – 8,820,458 8,820 458 ehensive loss – – (207,635) – (207,635) e 18 431,580 – – – 431,580 f shares 18 (1 4,960) – – (114,960) atu ry reserves 19 – 4,097,877 – (4,097,8 7) – s 19 – 17,895 – – 17,895 p cial re erves 20 – – 1,040,140 (1, 40 140) – ves r leased to et in d ar ings 20 – – (1,157,692) 1,157 692 – or int r st on no -perf rming 20 – – 969,400 ( 69,400) – s to members 8 – – – (2,782,7 5) (2,78 7 5) 1, 2024 13,650,780 1 6,925 879 8,272 841 6,004 18 194,853 618 for he year – – – 5,177,5 6 5,177 5 6 ehensive loss – – (593,642) – (593,642) e 18 467,520 – – – 467,520 f shares 18 (132,7 0) – – – (132,7 0) atu ry reserves 19 – 34,364 – (34, 64) – s 19 – 17,030 – – 17,030 p cial re erves 20 – – 1,022,257 (1,02 , 57) – ves r leased to et in d ear ings 20 – – (824,375) 824,375 – or int r st on no -p f rming – 20 – – 1,445,7 0 (1,445,7 0) – s to members 8 – – – (2,696,190) (2, 96 190) 1, 2025 13,985,580 166,977 2 3 9,322 7 1 6,807 528 197,093 1 2 anying notes form an integral part of these separa e in ncial statements. Barbados Public Workers’ Co-operative Credit Union Limited Separate 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 13,334,160 162,810,107 7,628,628 4,916,110 Net income for the year – – – 8,820,458 Other comprehensive loss – – (207,635) – Issue of shares 18 431,580 – – – Redemption of shares 18 (114,960) – – Transfer to statutory reserves 19 – 4,097,877 – (4,097,877) Entrance fees 19 – 17,895 – – Transfer to special reserves 20 – – 1,040,140 (1,040,140) Special reserves released to retained earnings 20 – – (1,157,692) 1,157,692 Net reserve for interest on non-performing loans 20 – – 969,400 (969,400) Distributions to members 8 – – – (2,782,725) At March 31, 2024 13,650,780 166,925,879 8,272,841 6,004,118 Net income for the year – – – 5,177,556 Other comprehensive loss – – (593,642) – Issue of shares 18 467,520 – – – Redemption of shares 18 (132,720) – – – Transfer to statutory reserves 19 – 34,364 – (34,364) Entrance fees 19 – 17,030 – – Transfer to special reserves 20 – – 1,022,257 (1,022,257) Special reserves released to retained earnings 20 – – (824,375) 824,375 Net reserve for interest on non-performing loans 20 – – 1,445,710 (1,445,710) Distributions to members 8 – – – (2,696,190) At March 31, 2025 13,985,580 166,977,273 9,322,791 6,807,528 The accompanying notes form an integral part of these separate financial statements.
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