42 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Consolidated Statement of Cash Flows For the year ended March 31, 2026 (expressed in Barbados dollars) 10 Notes 2026 $ 2025 $ Cash flows from operating activities Net income before taxation 10,245,111 6,179,159 Adjustments for: Depreciation 14 5,235,138 5,953,416 Expected credit losses 6 857,988 821,718 Gain on disposal of property and equipment 4 (894,914) (282,736) Interest income 3 (99,615,087) (99,961,026) Interest expense 3 23,240,154 22,851,933 Dividend income 4 (149,742) (49,090) Pension expense 15 563,369 483,073 Tax on assets 8 986,897 1,014,502 (59,531,086) (62,989,051) Changes in operating assets and liabilities (Increase)/decrease in loans and advances (24,099,820) 18,405,219 Decrease/(increase) in other assets 8,343,823 (22,373,189) Increase in deposits 74,563,230 36,224,913 Increase in reimbursable shares 2,618,752 5,257,543 Increase in other liabilities 1,460,673 4,121,196 Net cash from/(used in) operations 3,355,572 (21,353,369) Interest received 98,107,476 97,384,494 Interest paid (23,790,003) (23,144,815) Pension contributions paid 15 (952,447) (910,296) Levies paid (986,099) (1,043,877) Income taxes paid (247,220) (23,636) Net cash from operating activities 75,487,279 50,908,501 Cash flows from investing activities Purchase of investments (41,457,505) (9,123,423) Redemption of term deposits – 1,858,127 Purchase of property and equipment 14 (10,543,694) (7,331,612) Proceeds from sale of property and equipment 3,795,217 568,837 Dividends received 4 149,742 49,090 Net cash used in investing activities (48,056,240) (13,978,981) Carried forward 27,431,039 36,929,520
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