71 SEPARATE FINANCIAL STATEMENTS 2025 Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2025 (expressed in Barbados dollars) 39 12 Property and equipment …continued As at March 31, 2025, land and buildings includes right-of-use assets of $593,028 (2024: $1,270,972) related to the Credit Union’s leased branches and office premises. Set out below, are the carrying amounts of the Credit Union’s right-of-use assets and lease liabilities and the movements during the year: 2025 Right of use property $ Lease liability $ Balance at April 1, 2024 1,270,972 1,349,159 Depreciation expense (677,944) – Interest expense – 53,104 Lease payments (principal and interest) – (815,708) As at March 31, 2025 593,028 586,555 2024 Right of use property $ Lease liability $ Balance at April 1, 2023 2,122,217 2,280,339 Depreciation expense (851,245) – Interest expense – 91,885 Additions – (1,023,065) As at March 31, 2024 1,270,972 1,349,159
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