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BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
28. COMPARATIVES
Certain prior year comparatives have been reclassified to conform to the current year’s presentation as follows:
• The 2012 amount presented as ‘Other Assets’ within Note 25 - Financial Risk Management and Note 26 – Fair Value has
been updated to exclude prepaid expenses of $1,557,535.
• An amount of $35,762 was reclassified to ‘Staff Costs’ from ‘Operating Expenses’ to correct the presentation.
• Within Note 6 – Operating Expenses various amounts within certain 2012 line items have been reclassified to various other
2012 line items to provide more information.
• The 2012 amount of $591,613 was reclassified from ‘Statutory Reserves’ to ‘Retained Earnings’ to reflect the reduction
in this amount. This specific reserve represents the difference between the loan loss reserve requirement in accordance
with statutory requirements compared to the loan loss provision calculated in accordance with IFRS. There was no overall
change in total equity. This amount was released by Capita Financial Services Inc. subsequent to the issuance of the
consolidated financial statements for the year ended March 31, 2012.
Notes to the Consolidated Financial Statements
For the year ended March 31, 2013, with comparative figures for 2012
(Expressed in Barbados dollars)
