17
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
CONSOLIDATED ANNUAL REPORT 2016
5
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
Consolidated Statement of Financial Position
As at March 31, 2016
With comparative figures as at March 31, 2015
(Expressed in Barbados dollars)
Notes
2016
2015
Assets
Cash resources
10
$
128,343,666
108,772,406
Financial investments
Held to maturity
11
29,074,183
25,838,462
Available-for-sale
11
2,405,377
2,033,220
Loans and receivables
11
3,550,855
3,112,780
Loans and advances
12
1,001,429,988
906,059,531
Property and equipment
13
31,712,173
30,060,208
Pension plan asset
14
437,778
687,429
Corporation tax recoverable
331,608
363,105
Intangible asset
16
2,910,000
2,910,000
Other assets
15
15,902,337
10,840,468
Total Assets
$ 1,216,097,965
1,090,677,609
Liabilities and Equity
Liabilities
Deposits
17
$ 1,037,172,174
915,311,940
Loans payable
18
41,011,330
52,034,942
Reimbursable shares
7,165,090
6,700,221
Corporation tax payable
81,385
-
Asset tax payable
7
602,938
1,074,967
Deferred taxation
8
52,180
84,041
Other liabilities
19
12,716,477
10,023,497
Total liabilities
1,098,801,574
985,229,608
Equity
Share capital
20
9,407,400
8,763,840
Statutory reserves
21
97,657,847
89,803,786
Other reserves
22
4,412,282
2,772,755
Retained earnings
5,818,862
4,107,620
Total equity
117,296,391
105,448,001
Total Liabilities and Equity
$ 1,216,097,965
1,090,677,609
The accompanying notes form an integral part of these consolidated financial statements.
Approved by the Board of Directors on June 8, 2016 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, 2016
With comparative figures as at March 31, 2015
(Expressed in Barbados dollars)
Notes
2016
2015
Assets
Cash resources
10
$
128,343,666
108,772,406
Financial investments
Held to maturity
11
29,074,183
25,838,462
Available-for-sale
11
2,405,377
2,033,220
Loans and receivables
11
3,550,855
3,112,780
Loans and advances
12
1,001,429,988
906,059,531
Property and equipment
13
31,712,173
30,060,208
Pension plan asset
14
437,778
687,429
Corporation tax recoverable
331,608
363,105
Intangible asset
16
2,910,000
2,910,000
Other assets
15
15,902,337
10,840,468
Total Assets
$ 1,216,097,965
1,090,677,609
Liabilities and Equity
Liabilities
Deposits
17
$ 1,037,172,174
915,311,940
Loans payable
18
41,011,330
52,034,942
Reimbursable shares
7,165,090
6,700,221
Corporation tax payable
81,385
-
Asset tax payable
7
602,938
1,074,967
Deferred taxation
8
52,180
84,041
Other liabilities
19
12,716,477
10,023,497
Total liabilities
1,098,801,574
985,229,608
Equity
Share capital
20
9,407,400
8,763,840
Statutory reserves
21
97,657,847
89,803,786
Other reserves
22
4,412,282
2,772,755
Retained earnings
5,818,862
4,107,620
Total equity
117,296,391
105,448,001
Total Liabilities and Equity
$ 1,216,097,965
1,090,677,609
The accompanying notes form an integral part of these consolidated financial statements.
Approved by the Board of Directors on June 8, 2016 and signed on its behalf by:
...............................................................
.....................................................
Glendon Belle
Anthony Christie
President
Treasurer
