40 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Separate Statement of Cash Flows For the year ended March 31, 2025 (expressed in Barbados dollars) 8 Notes 2025 $ 2024 $ Cash flows from operating activities Net income for the year 5,177,556 8,820,458 Adjustments for: Depreciation 12 3,719,722 3,698,210 Expected credit losses 5 1,635,816 2,675,729 (Gain)/loss on disposal of property and equipment 4 (85,534) 13,498 Interest income 3 (86,572,875) (87,099,001) Interest expense 3 17,897,996 19,644,110 Pension expense/(income) 13 483,073 395,770 Dividend income 4 (49,090) (149,685) (57,793,336) (52,000,911) Changes in operating assets and liabilities Decrease in loans and advances 3,505,685 13,254,668 Increase in other assets (21,728,414) (2,349,191) Increase in deposits 41,131,712 23,777,772 Increase in reimbursable shares 5,257,543 4,635,858 Decrease in due from related companies 811,294 1,512,917 Increase in other liabilities 2,880,626 3,850,650 Net cash used in operations (25,934,890) (7,318,237) Interest received 85,200,949 85,849,479 Interest paid (18,458,034) (19,523,622) Pension contributions paid 13 (910,296) (852,613) Net cash generated from operating activities 39,897,729 58,155,007 Cash flows from investing activities Purchase of investments (10,511,700) (47,934,899) Investments redeemed 1,858,127 3,410,071 Purchase of property and equipment 12 (4,776,006) (2,310,948) Proceeds from sale of property and equipment 85,534 91,000 Dividends received 4 49,090 149,685 Net cash used in investing activities (13,294,955) (46,595,091) Carried forward 26,602,774 11,559,916
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