BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2015
18
5
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Consolidated Statement of Financial Position
As at March 31, 2015
With comparative figures as at March 31, 2014
(Expressed in Barbados dollars)
Notes
2015
2014
Assets
Cash resources
10
$
108,772,406
122,627,943
Financial investments
Held to maturity
11
25,838,462
20,395,633
Available-for-sale
11
2,033,220
2,107,517
Loans and receivables
11
3,112,780
3,181,576
Loans and advances
12
906,059,531
825,149,124
Property and equipment
13
30,060,208
30,009,202
Pension plan asset
14
687,429
5,716
Corporation tax recoverable
363,105
366,281
Intangible asset
16
2,910,000
2,910,000
Other assets
15
10,840,468
10,296,216
Total Assets
$ 1,090,677,609
1,017,049,208
Liabilities and Equity
Liabilities
Deposits
17
$
915,311,940
839,051,895
Loans payable
18
52,034,942
63,966,144
Reimbursable shares
6,700,221
5,351,432
Asset tax payable
7
1,074,967
-
Corporation tax payable
-
41,021
Deferred taxation
8
84,041
81,785
Other liabilities
19
10,023,497
11,954,059
Total liabilities
985,229,608
920,446,336
Equity
Share capital
20
8,763,840
8,240,280
Statutory reserves
21
89,803,786
81,891,199
Other reserves
22
2,772,755
1,907,154
Retained earnings
4,107,620
4,564,239
Total equity
105,448,001
96,602,872
Total Liabilities and Equity
$ 1,090,677,609
1,017,049,208
The accompanying notes form an integral part of these consolidated financial statements.
Approved by the Board of Directors on May 28, 2015 and signed on its behalf by:
...............................................................
.....................................................
Glendon Belle
Anthony Christie
President
Treasurer
5
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Consolidated Statement of Financial Position
As at March 31, 2015
With comparative figures as at March 31, 2014
(Expressed in Barbados dollars)
Notes
2015
2014
Asset
Cash resources
10
$
108,772,406
122,627,943
Financial investments
Held to maturity
25 8 8 462
20 395 633
Av ilable-for-sale
2 033 22
2 07 17
Loans and receivables
1
3 112 780
3 81 576
Loans and advances
2
906 59 531
825 14 124
roperty and equipment
3
30,060 208
30,009 202
Pension plan ass t
14
687 429
5 716
Corporation tax recoverable
363 1 5
366 281
In angible a set
6
2 91 000
2 910 000
Other assets
15
10,840,468
10,296,216
Total Assets
$ 1,090,677,609
1,017,049,208
i bilities and Equity
Liabilities
Depo its
7
$
915 311 0
839 051 895
Loans payable
18
52 034 942
63 966 144
Reimbursable shares
6 700 221
5,351,432
Asset t x pay ble
7
1,074,967
-
Corporation tax payable
-
4 021
Def red taxation
8
84 041
81 785
Other liabilities
19
10,023,497
11,954,059
Total liabilities
985,229,608
920,446,336
Equity
hare capital
0
8 76 840
8 240 280
Statutory res rves
1
89 803 86
8 891 99
Other r s rves
22
2 772 755
1 907 154
Retained earnings
4,107,620
4,564,239
Total equity
105,448,001
96,602,872
Total Liabilities and Equity
$ 1,090,677,609
1,017,049,208
The accompanying notes form an integral part of these consolidated financial statements.
Approved by the Board of Directors on May 28, 2015 and signed on its behalf by:
...............................................................
.....................................................
Gl n o Belle
Anthony Christie
President
Treasurer
