62 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 30 4 Other income 2025 $ 2024 $ Fee income 2,524,680 3,335,687 Legal income 1,283,674 846,474 Rental income 111,513 166,508 Bad debt recoveries 1,762,789 1,178,472 Dividend income 49,090 149,685 Gain/(loss) on disposal of property and equipment 85,534 (13,498) 5,817,280 5,663,328 5 Expected credit losses Notes 2025 $ 2024 $ Loans and advances 11 1,093,872 2,587,768 Undrawn loan commitments 22 5,958 (49,504) Accounts Receivable 15 485,761 – Financial investments 10 41,913 129,056 Term deposits 9 8,312 8,409 1,635,816 2,675,729 6 Staff costs Note 2025 $ 2024 $ Salaries 23,362,367 19,629,792 National Insurance Scheme contributions 1,955,882 1,801,029 Pension plan - defined benefit plan 13 483,073 395,770 Other costs 1,458,652 2,023,165 27,259,974 23,849,756
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