BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2016
56
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2016
(Expressed in Barbados dollars)
40
22. Related Party Disclosures,
continued
Transactions with key management personnel,
continued
The following table provides the total amount of balances held with related parties for the relevant
financial year.
2016
2015
Key management personnel:
Loans and advances
$
2,044,956
2,140,745
Deposits
1,569,400
862,959
The secured loans and advances are secured over property of the respective borrowers. Other balances
are not secured and no guarantees have been obtained.
No impairment losses have been recorded against balances outstanding during the period with key
management personnel, and no specific allowance has been made for impairment losses on balances
with key management personnel and their related concerns at the period end.
Due from related companies
2016
2015
Due from BPW Financial Holdings Inc.
$ 17,200,255
17,339,733
Due from Capita Financial Services Inc.
66,138
85,541
Due from Capita Insurance Brokers Inc.
41,221
-
$ 17,307,614
17,425,274
Amounts due from related companies are unsecured, non-interest bearing and have no fixed terms of
repayment.
Other transactions
Cash resources include deposits held with Capita Financial Services Inc. amounting to $16,245,300
(2015 - $19,523,136) which resulted in interest income of $544,754 (2015 - $625,760).
