17
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
Consolidated Statement of Financial Position
As of March 31, 2013, with comparative figures as of March 31, 2012
(Expressed in Barbados dollars)
Notes
2013
2012
Assets
Cash resources
9
$ 117,433,453
102,900,958
Financial investments
Held to maturity
10
16,377,955
11,317,370
Available-for-sale
10
2,044,394
2,338,066
Loans and receivables
10
3,272,398
4,214,891
Loans and advances
11
774,614,499
749,729,372
Property and equipment
12
27,263,027
26,552,722
Pension plan asset
13
545,809
383,041
Corporation tax recoverable
380,367
380,367
Intangible asset
16
2,910,000
2,910,000
Other assets
15
6,666,965
5,459,158
Total assets
951,508,867
906,185,945
Liabilities and Equity
Liabilities
Deposits
17
772,320,340
735,909,041
Loans payable
18
74,476,147
80,100,530
Reimbursable shares
5,726,048
4,532,147
Corporation tax payable
172,113
52,098
Deferred taxation
7
29,326
9,059
Other liabilities
19
11,407,220
9,855,048
Total liabilities
864,131,194
830,457,923
Equity
Share capital
20
7,760,400
7,393,680
Statutory reserves
21
71,540,222
62,953,919
Other reserves
22
1,213,011
1,254,701
Retained earnings
6,864,040
4,125,722
Total equity
87,377,673
75,728,022
Total liabilities and equity
$ 951,508,867
906,185,945
The accompanying notes form an integral part of these consolidated financial statements.
Approved by the Board of Directors on May 29, 2013 and signed on its behalf by:
Glendon Belle
...............................................................
Paula Byer
.............................................................
President
Treasurer
