108 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Barbados Public Workers’ Co-operative Credit Union Limited Notes to the Separate Financial Statements March 31, 2026 (expressed in Barbados dollars) 83 24 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 separate 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, due from related companies, other assets, financial instruments, other liabilities and reimbursable shares. The fair value of debt securities is based on quoted prices where 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 Credit Union'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 separate statement of financial position are shown in the table below: 2026 2025 Carrying amount $ Fair value $ Carrying amount $ Fair value $ Assets Cash resources 513,272,883 513,272,883 477,039,035 477,039,035 Financial investments - Amortised cost 107,237,868 107,237,868 65,518,001 65,518,001 - FVTPL 10,059,452 10,059,452 10,059,452 10,059,452 - FVOCI - quoted 1,000,000 1,000,000 980,000 980,000 - FVOCI - unquoted 2,018,248 2,018,248 1,958,342 1,958,342 Loans and advances 1,149,877,076 1,152,141,041 1,127,963,547 1,130,105,774 Due from related companies 21,984,863 21,984,863 22,266,968 22,266,968 Other assets 26,605,123 26,605,123 36,100,528 36,100,528 1,832,055,513 1,834,319,478 1,741,885,873 1,744,028,100 Liabilities Deposits 1,648,897,685 1,708,608,044 1,565,368,739 1,624,410,470 Reimbursable shares 35,237,989 35,237,989 32,619,237 32,619,237 Other liabilities 16,354,330 16,356,470 16,465,262 16,465,262 1,700,490,004 1,760,202,503 1,614,453,238 1,673,494,969
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