NOTICE NO. 2 BARBADOS
In the Matter of the Estate of
DONVILLE LEMUEL JOHNSON
also known as DONVILLE JOHNSON
Deceased
NOTICE is hereby given in accordance with Section 31 of the Trustee Act, Chapter 250 of the Laws of Barbados to all persons having any claim upon or affecting the Estate of DONVILLE LEMUEL JOHNSON also known as DONVILLE JOHNSON, deceased, late of 55 Violet Circle, Oxnards in the parish of Saint James who died Barbados on the 29th day of December 2019 to send particulars of their claims duly attested to the undersigned qualified Executor, CLEMENT ST. CLAIR HOWELL of the said Estate in care of Carrington & Sealy, Attorneys- at-Law of Belmont House, Belmont Road, Bridgetown on or before the 1st day of December 2023 after which date the Executor will convey and distribute the assets of the Estate having regard only to valid claims then notified.
AND all persons indebted to the said Estate are requested to settle their indebtedness without further delay.
Dated this 30th day of September 2023.
CARRINGTON & SEALY
Attorneys-at-Law for
CLEMENT ST. CLAIR HOWELL
Executor.
@APITA
FINANCIAL
Today. Tomorrow. Together.
SUMMARY CONSOLIDATED FINANCIAL STATEMENTS 2023
DIRECTORS: Derrick Cummins – Chairman, Craig Hinds – Vice Chairman
Hasani Evelyn – Secretary, Trevor Colucci – Director,Julian Hunte – Director, Glyne Harrison – Director
Lydia McCollin – Director, Cornelius Bartlett – Director, Romaine Lovell – Director
@AsubsidiaryofBarbados PublicWorkers’Co-operativeCredit Union Limited
BARBADOS: 2nd Floor, Patrick E. McDonald Building, Collymore Rock, St. Michael.
ST.LUCIA: William Peter Boulevard, Castries.
CAPITA FINANCIAL SERVICES INC.
Summary Consolidated Statement of Financial Position
As at March 31, 2023
(expressed in Barbados dollars)
Assets
Cash resources
Investment securities:
FVOCI
Amortised cost
Loans and advances
Corporation tax recoverable
Due from related company
Property and equipment
Other assets
Total Assets
Llabllltles and Equity
Llabllltles
Customer deposits
Other liabilities
Due to related companies
Loans payable
Corporation tax payable
Deferred loan commitment fees
Tax on asset payable
Deferred taxation
Total Llabllltles
Equity
5harecapital
Other reserves
Retained earnings
Total Equity
Total Llabllltles and Equity
Approved by the Boa..i of Dlrecton on July 26, 2023.
2023 2022
s s
23,420,135 19,399,-404
1,148,211 1,198,833
4,286,528 4,444,666
278,949,402 283,842,782
326,810 326,810
1,027,662 1,256,014
9,394,388 10,797,760
8,111,331 6,308,431
326,664,467 327,574,700
278,958,480 278,667,976
8,921,385 8,502,467
320,555 879,897
8,794,596 9,979,674
93,384 74,063
201,890 470,030
366,667 561,612
75,331 92,941
297,732,288 299,228,660
10,297,059 10,297,059
8,292,313 7,377,063
10,342,807 10,671,918
28,932,179 28,346,CMO
326,664,467 327,574,700
Derric~ Cummins – Chairman Craig Hinds – Director
CAPITA FINANCIAL SERVICES INC.
Summary Consolidated Statement of Changes In Equity
For the year ended March 31, 2023
(expressed in Barbados dollars)
Shan Other
capita~ reserves
$
Balance at April I, 2021 10,297,059 6,695,758
Profitfortheyear
Dividend declared
Transfer to statutory reserve 176,215
Transfertogeneralreserve 976.700
Unrealised fair value gain on FVOCI
equity investment (471,610)
Balance at March 31, 2022 10,297,059 7,377,063
Balance at April I, 2022
10,297,059 7,377,063
Profit for the year
Dividend declared
Transfer to statutory reserve 107,080
Transfertogeneralreserve 858,261
Unrealised fair value gain on FVOCI
equity investment (50,091)
Balance at March 31, 2023 10,297,059 8,292,313
CAPITA FINANCIAL SERVICES INC.
Retained
eamlnii; Total
$
10,563,529 27,556,H6
1,261,304 1,261,304
(176,215)
(976.700)
(471,610)
10,671,918 28,346,040
10,671,918 28,346,040
911,230 911,230
(275,000) (275,000)
(107,080)
(858,261)
(50,091)
10,342,807 28,932,179
Summary Consolidated Statement of Profit or Loss and Other Comprehensive Income
For the year ended March 31, 2023
(expressed in Barbados dollars)
2023 2022
$ s
Interest income 18,184,539 17,585,747
Interest expense (7,187,388) (l,145,569)
Net Interest Income 10,997,151 10,440,178
Other income 8,196,101 5,090,491
Net Interest and other Income 19,193,252 15,530,669
Operating expenses
Salariesandotherstaffcosts 4,120,350 3,887,736
Occupancy costs 189,425 83,709
Debt impairment recovery
Expected credit losses 2,057,819 884,273
Receivables written off 58,190 211,077
Other operating expenses 8,528,044 5,804,521
Depreciation 2,337,341 2,312,079
Total operating expenses 17,291,169 13,183,395
Profit before levies and taxation 1,902,083 2,347,274
Tax on assets (879,925) (993,068)
Profit before taxation 1,022,158 1,354,206
Taxation (110,928) (92,902)
Profit for the year 911,230 1,261,304
CAPITA FINANCIAL SERVICES INC.
Summary Consolidated Statement of Profit or Loss and Other Comprehensive Income (cont.)
For the year ended March 31, 2023
(expressed in Barbados dollars)
Other comprehensive Income
ltemsthatwillneverbereclassifiedsubsequentlytaprofitorloss:
Unrealised fair value loss gain on FVOCI
equityinvestmentsecurities,net
Total comprehensive Income for the year
CAPITA FINANCIAL SERVICES INC.
Summary Consolidated Statement of Cash Flows
For the year ended March 31, 2023
(expressed in Barbados dollars)
Cash flows from operating activities
Income before taxation
Adjustments for:
Depreciation
Interest income
Gain on disposal of property and equipment
Interest expense
Expected credit losses
Receivables written off’
Changes In operating assets and liabllltles:
(lncrease)/decrease in mandatory reserve deposits with Central Bank
Decrease/(increase)inloansandadvances
Increase in other assets
Increase in customer deposits
Increase in other liabilities
Increase in net due from/to related company
Decrease in deferred loan commitment fees
(Drcrease)/increaseintaxonassetpayable
Net cash used In operations
Interest received
Interest paid
Taxes paid
Net cash from operating activities
Cash flows from Investing activities
Matured/(purchase)ofinvestmentsecurities
Purchaseofpropertyandequipment
Proceedsfromsaleofassets
Net cash used In Investing activities
Cash flows from financing activities
Dividend paid
Payment of lease liability
Repayment of loans payable
Net cash used In financing activities
Increase In cash and cash equivalents
Cash and cash equivalents – beginning of year
Cash and cash equivalents – end of year
2023
$
(50,091)
861,139
2023 s
1,022,158
2,337,341
(18,184,539)
(63,361)
7,187,388
2,057,819
58,190
(5,585,004)
(1,411,779)
4,1193,380
(2,035,009)
2,591,544
418,918
(330,990)
(268,140)
(194,945)
(1,922,025)
17,141,667
(9,271,498)
(117,401)
5,830,743
153,987
(1,214,684)
157,854
(902,843)
(275,000)
(857,911)
(1,185,078)
(2,317,989)
2,609,911
11,074,182
13,684,093
2022
s
(471,610)
789,694
2022 s
1,354,206
2,312,079
(17,585,747)
(60,338)
7,145,569
884,273
211,077
(5,738,881)
22,941
(9,318,391)
(2,029,707)
9,712,129
326,240
(25,120)
5,073
240,000
(6,805,716)
17,822,209
(5,916,548)
(95,091)
5,004,854
(277,521)
(2,100,511)
694,407
(1,683,625)
(922,929)
(1,166,286)
(2,089,215)
1,232,014
9,842,168
11,074,182
I.~= :!u:a;7o~:;1:!~~~:~r:a::~:”!’~ ::::e°Jr:::i:~dited consolidated financial statements of
CapltaFlnanclalServlceslnc.fortheyearendedMarch31,2023andhavebeenpreparedlnaccordancewlthcrlterladeveloped
by management.
pwc
lndepsndant auditor’s report on Iha summary consolidated flnanclal statements
To the Shareholder of Capita Financial Services Inc.
Our opinion
In our opinion, the accompanying summary consolidated financial statements of Capita Financial Services Inc.
(the Company) are consistent, in all material respects, with the audited consolidated financial statements, on the basis
described in note 1.
The summary consolldated flnanclal statamants
The Company’s summary consolidated financial statements derived from the audited consolidated financial
statements for the year ended March 31, 2023 comprise:
- the summary consolidated statement of financial position as at March 31, 2023;
- the summary consolidated statement of profit or loss and other comprehensive income for the year then ended;
- the summary consolidated statement of changes in equity for the year then ended;
- the summary consolidated statement of cash flows for the year then ended; and
- the related notes to the summary consolidated financial statements.
The summary consolidated financial statements do not contain all the disclosures required by International Financial
Reporting Standards. Reading the consolidated summary financial statements and the auditor’s report thereon,
therefore, is not a substitute for reading the audited consolidated financial statements and the auditor’s report
thereon.
The audited consolidated financial statamants and our report thereon
We expressed an unmodified audit opinion on the audited consolidated financial statements in our report dated
July 29, 2023. That report also includes an Other Matter paragraph regarding the purpose and use of our audit report.
Management’s responslblllty for the summary consolidated flnanclal statements
Management is responsible for the preparation of the summary consolidated financial statements on the basis
described in note 1.
Auditor’s responsibility
Dur responsibility is to express an opinion on whether the summary consolidated financial statements are consistent,
in all material respecls, with the audited consolidated financial statements based on our procedures, which were
conducted in accordance with International Standard on Auditing 810 (Revised), ‘Engagements to Report on
Summary Financial Statements’.
Other Matter
Our report, dated July 29, 2023 on the financial statements of Capita Financial Services Inc. for the year ended
March 31, 2023 was made solely to the Company’s shareholder, as a body corporate, in accordance with Section 147
of the Companies Act of Barbados. That report stated that our audit work has been undertaken so that we might state
to the Company’s shareholder those matters we are required to state to them in an auditor’s report and for no other
purpose. To the fullest extent pennitted by law and subject to any enactment or rule of law to the contrary, we do not
accept or assume responsibility to anyone other than the Company and the Company’s shareholder as a body
corporate, for our audit work, for our report dated July 29, 2023, or for the opinion we have fonned.
Bridgetown, Barbados
July 29, 2023
PriccwatcrhouscCoopers SRL, Thc Financial Services Ccntrc,Bishop’s Court Hill,P.O. Box 111, St. Michacl,BB14004,Barbados, West Indies.
T: (246) 626 6700, F: (246) 436 1275, www.pwc.com/bb
NOTICE NO. 3
IN THE SUPREME COURT OF JUDICATURE
High Court Probate Division
In the Estate of
MICHAEL LeROY INNISS
also known as MICHAEL INNISS
Deceased
PUBLIC NOTICE is hereby given that an Application is being made for the following Grant of Letters of Administration de bonis non:-
LETTERS OF ADMINISTRATION DE BONIS
NON to the Estate of MICHAEL LeROY INNISS also known as MICHAEL INNISS late of 7135 Collins Avenue, Miami, Florida in the United States of America who died in Miami, Florida in the United States of America on the 8th day of March 2019 by DIANNE ELIZABETH INNISS the sister of the deceased.
An application shall be submitted to the Supreme Court fourteen (14) days from the date of Notice in the Official Gazette and from the date of the second Notice of Advertisement.
Dated the 2nd day of October 2023. HAZELYN E. DEVONISH
Attorney-at-Law for the Applicant.
| Contents |
NOTICE NO. 2
SAGICOR LIFE INC.
Acting Appointment: Mr. Alliston Seale to act in the post of Director of Public Prosecutions 1
Appointment of Members to serve on the Board of Directors of the Barbados International Business Promotion
Corporation ( Invest Barbados)……………………………… 2
Lost Policy Notices for Krista Bowen, Shari Bowen,
Marcelle Greene, dec’d. and Lisa Phillips, dec’d. ………………..1, 4 Reappointment to the Board of the Urban Development
Commission…………………………………………………………… 3
Retirements from the Public Service………………………………….. 4
COLIN BOWEN of No. 23 Gibbs Glade, St. Peter having made sworn deposition that Policy No. M4046402 issued by Manufacturer’s Life Insurance Company and assumed by Sagicor Life Inc., on the life of KRISTA BOWEN has been lost and having made application to the Directors to grant a duplicate of the same, notice is hereby given that unless objection is raised within one month of the date hereof, the duplicate policy asked for will be issued.
Dated the 9th day of August, 2023.
By Order, ANDREW C. GREAVES
Corporate Secretary.
NOTICE NO. 3
SAGICOR LIFE INC.
| Government Notices |
NOTICE NO. 1
Acting Appointment
COLIN BOWEN of No. 23 Gibbs Glade, St. Peter having made sworn deposition that Policy No. S00120055 issued by Sagicor Life Inc., on the life of SHARI BOWEN has been lost and having made application to the Directors to grant a duplicate of the same, notice is hereby given that unless objection is raised within one month of the date hereof, the duplicate policy asked for will be issued.
Mr. Alliston Seale, Deputy Director of Public Prosecutions, has been appointed to act in the post of Director of Public Prosecutions, Department of the Public Prosecutions, with effect from 2023-08-30 to 2023-09-15.
(M.P. 3/117/06C Vol. 7)
Dated the 9th day of August, 2023.
By Order, ANDREW C. GREAVES
Corporate Secretary.
GOVERNMENT NOTICE
Appointment of Members to Serve on the Board of Directors of the Barbados International Business Promotion Corporation (Invest Barbados)
Pursuant to the provisions of Section 5 of the Barbados International Business Promotion Corporation Act, 2005-25 and Section 4(a) of the Barbados International Business Promotion Corporation (Amendment) Act, 2008-14, the following persons have been appointed as Members of the Board for a period of three (3) years from August 5, 2023 to August 4, 2026.
Dr. Jeremy Nurse – Chairman
Mr. Andrew Ferreira – Deputy Chairman
Ms. Julia Hope – Director
Mr. Stephen Greaves – Director
Ms. Nikita Gibson – Director
Mr. Calvin Alkins – Director
Ms. Connie Smith – Director
Permanent Secretary – Director Prime Minister’s Office
or nominee
Permanent Secretary – Director Ministry of International
Business and Industry or nominee
Representative of the – Director Barbados International
Business Association
GOVERNMENT NOTICE
Reappointment to the Board of the Urban Development Commission
Pursuant to the provisions of Section 3 of the Urban Development Commission Act, Cap. 241 and the Schedule to the Act, the following persons have been reappointed as Members to serve on the Board of the Urban Development Commission with effect from July 20, 2023 to January 19, 2024.
Mr. Roger Gill – Chairman
Mr. Wayne Kirton – Deputy Chairman
Mr. Stevon Roberts – Member
Mr. Marcus Stephens – Member
Ms. Beverley Norville – Member
Mr. Colin Mayers – Member
Ms. Faye Finisterre – Member
Mr. Mohammed Patel – Member
Director of Planning – Ex Officio Member and Development
Permanent Secretary, – Ex Officio Member Prime Minister’s Office
or his/her nominee
Permanent Secretary – Ex Officio Member Ministry of Housing, Lands
and Maintenance or his/her nominee
GOVERNMENT NOTICE
Retirements from the Public Service
The following persons will retire/ have retired from the Public Service with effect from the dates indicated:-
Name/Post Ministry/Department Effective Date
Ms. Hyacinth O. Ramsey Health and Wellness 2023-09-14
Health Sister
Ms. Laureen D. Cummins Health and Wellness 2023-10-01
Laundry Worker
Mr. Anthony E. Parris Health and Wellness 2023-08-30
Watchman
(M.P. PZ 637, PU 192, 1753/P)
NOTICE NO. 4
SAGICOR LIFE INC.
ORLANDO GREENE of 6631 Waterton Drive, Riverview, Florida 33578, U.S.A. being the Administrator of the Estate of MARCELLE GREENE (Deceased) and having made sworn deposition that Policy No. S00069992 issued by Sagicor Life Inc., on the life of MARCELLE GREENE (Deceased) has been lost and having made application to the Directors to grant a duplicate of the same, notice is hereby given that unless objection is raised within one month of the date hereof, the duplicate policy asked for will be issued.
Dated the 11th day of August, 2023.
By Order, ANDREW C. GREAVES
Corporate Secretary.
NOTICE NO. 5
SAGICOR LIFE INC.
REENA PHILLIPS of #16 – 6th Avenue, North Wildey Terrace, St. Michael being the Administratrix of the Estate of LISA PHILLIPS (Deceased) and having made sworn deposition that Policy No. 0052415 issued by Life of Barbados Insurance Company and assumed by Sagicor Life Inc., on the life of LISA PHILLIPS (Deceased) has been lost and having made application to the Directors to grant a duplicate of the same, notice is hereby given that unless objection is raised within one month of the date hereof, the duplicate policy asked for will be issued.
Dated the 10th day of August, 2023.
By Order, ANDREW C. GREAVES
Corporate Secretary.
