92 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) 60 21 Other Reserves …continued (ii) Special funds …continued 2025 Balance at beginning $ Amounts appropriated $ Amounts utilised $ Balance at end $ Social Outreach Fund 201,236 290,012 113,950 377,298 Education Fund 165,520 214,913 265,425 115,008 Development Fund 242,667 107,332 85,000 264,999 Health and Disaster Relief Fund 250,000 – – 250,000 BCCUL Training/Education Fund 50,000 50,000 – 100,000 BPWCCUL Foundation – 300,000 300,000 – Small and Micro Business Fund 150,000 – – 150,000 National Development Fund – 60,000 60,000 – Credit Union Liability Insurance Fund 260,000 – – 260,000 1,319,423 1,022,257 824,375 1,517,305 (iii) Donated equity This amount totalling $26,909 (2025 - $26,909) represents the value of donations bestowed upon the Group on incorporation. (iv) Defined benefit plan This amount totalling ($2,832,285) (2025 - $(960,923)) represents the net amount of actuarial gains and losses and other items recognised directly in other comprehensive income on the Group’s defined benefit plan. (v) Reserve for interest on non-performing loans This amount totalling $13,607,282 (2025 - $12,408,084) is created to set aside interest accrued on nonperforming loans where certain conditions are met in accordance with IFRS 9. The guidelines of Section 202 (2) of the Co-operative Societies Act Cap. 378A, however do not allow for the accrual of such interest. The interest is therefore set aside in a reserve and is not available for distribution to members.
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