JPSCU AR 2018 finan web
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STATEMENT OF CHANGES IN EQUITY<br />
For the year ended 31st December <strong>2018</strong><br />
SUMM<strong>AR</strong>Y - Continued<br />
(Expressed in Jamaican Dollars unless otherwise indicated)<br />
Members'<br />
Non-<br />
Permanent Share Institutional Institutional<br />
Capital Capital Capital Total<br />
$ $ $ $<br />
Balance at 31st December 2017 as restated 74,735,286 145,986,299 676,968,478 934,521,185<br />
Minimum Business Tax - (60,000) - (60,000)<br />
Pension Income - 8,448,000 - 8,448,000<br />
Scholarship Fund - (1,331,573) - (1,331,573)<br />
Care-a-bit Reserve - (30,000) - (30,000)<br />
Software Reserve - (2,699,635) - (2,699,635)<br />
Redemption Reserves - 4,285,500 - 4,285,500<br />
General Reserve - (14,491,398) - (14,491,398)<br />
IFRS 9 Provisons 36,831,122 36,831,122<br />
Donation Reserve - - - -<br />
Appropriations of Net Surplus for 2017<br />
Scholarship Fund - (1,105,927) - (1,105,927)<br />
IFRS 9 Provision - (36,831,122) - (36,831,122)<br />
Redemption Reserve - (5,000,000) - (5,000,000)<br />
Software Reserve - 2,699,635 - 2,699,635<br />
Net Income after Honoraria - 71,619,627 - 71,619,627<br />
Transfer from General Reserve - 14,491,398 - 14,491,398<br />
Write Offs - (9,319,132) - (9,319,132)<br />
Entrance Fees - - - -<br />
Transfer of 20% of Net Income for the year before honoraria<br />
- (14,323,925) 14,323,925 -<br />
Amount Subscribed during year 278,656 - - 278,656<br />
Balance at 31st December <strong>2018</strong> 75,013,942 198,968,869 691,292,403 1,002,106,336<br />
The accompanying notes form an integral part of the <strong>finan</strong>cial statements.<br />
11 Annual Report <strong>2018</strong>
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