BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2015
43
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
32
14. Investment in Subsidiary
2015
2014
BPW Financial Holdings Inc. – 100%
$ 8,500,000
8,500,000
On July 9, 2013, the Board of Directors approved a resolution for the issuance of an additional
$2,000,000 in share capital.
On March 25, 2014, the Board of Directors approved a further resolution for the issuance of an additional
$4,500,000 in share capital.
15. Other Assets
Other assets are comprised of the following:
2015
2014
Accounts receivable
$
3,640,559
3,035,974
Prepaid employee benefit (Note 18)
2,354,990
2,581,584
Prepaid expenses
1,914,643
1,736,880
Interest receivable on cash resources
54,985
33,674
Dividend receivable
55,000
55,000
Other Assets re Goodwill Credit Union (Note 27)
186,505
-
$ 8,206,682
7,443,112
