124 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Consolidated Financial Statements March 31, 2026 (expressed in Barbados dollars) 92 25 Fair Value Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and is best evidenced by a quoted market price, if one exists. Financial assets and liabilities are carried at amounts, which approximate to their fair value at the consolidated statement of financial position date. Fair value estimates are made at a specific point in time, based on market conditions and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. For financial assets and financial liabilities that are liquid or have short term maturity, it is assumed that the carrying amounts approximate their fair value. These include cash resources, other assets, reimbursable shares and other liabilities. The fair value of debt securities is based on quoted prices that are available, or otherwise based on an appropriate yield curve with the same remaining term to maturity. The fair value of loans and advances largely approximates carrying value as the Group's portfolio comprises mainly variable rate loans. The fair value of deposits takes account of certain fixed rate deposits which have been discounted at current interest rates. The fair values of financial assets and liabilities, together with the carrying amounts shown in the consolidated statement of financial position are shown in the table below: 2026 2025 Carrying amount $ Fair value $ Carrying amount $ Fair value $ Assets Cash resources 484,520,692 484,520,692 460,866,012 460,866,012 Financial investments 82,149,269 82,149,269 40,588,462 40,588,462 10,059,452 10,059,452 10,059,452 10,059,452 4,366,868 4,366,868 4,129,015 4,129,015 1,402,792,682 1,402,137,159 1,378,436,569 1,380,578,796 - Amortised cost - FVTPL - FVOCI Loans and advances Other assets 37,388,608 37,388,608 45,541,619 45,541,619 2,021,277,571 2,020,622,048 1,939,621,129 1,941,763,356 Liabilities Deposits 1,824,599,517 1,893,324,183 1,750,586,136 1,802,702,549 Reimbursable shares 35,237,989 35,237,989 32,619,237 32,619,237 Other liabilities 23,014,164 23,120,458 24,219,364 24,219,364 1,882,851,670 1,951,682,630 1,807,424,737 1,859,541,150
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