Page 37 - Kildare CU 2022 AR

NOTES TO
THE FINANCIAL STATEMENTS & SCHEDULES
25 c.
25 d. 25 e.
26. 27.
Liquidity Risk Disclosures
All of the financial liabilities of the Credit Union are repayable on demand except for some members’ shares attached to loans.
Fair value of financial instruments
Kildare Credit Union Limited does not hold any financial instruments at fair value.
Capital
Kildare Credit Union maintains sufficient reserves to buffer against any losses on its members’ loans and also its investments. The current Regulatory Reserve is in excess of the minimum requirement set down by the Central Bank of Ireland (10%), and stands at 12.72% of the total assets of the Credit Union at the Balance Sheet date.
Ethical standards
As a small entity, under the provisions of the ISA (Ireland) Ethical Standards we engage our auditor to provide assistance with financial statements preparation.
Approval of financial statements
The financial statements were approved, and authorised for issue by the Board of Directors on 25 October 2022.
SCHEDULES
The following schedules do not form part of the statutory audited financial statements.
Schedule 1 - Interest On Loans
Loan Interest Income Received Loan Interest Income Receivable
Total Per Income And Expenditure Account
Schedule 2 - Other Interest Income And Similar Income For Year
2022 2021
€€
1,292,865 31,183
1,296,075 31,540
1,327,615
2021
1,324,048
Investment Income Received
Investment Income to be received within 12 months
Total Per Income And Expenditure Account Schedule 3 - Other Income For Year
€€
231,246 250,991 189,796 205,255
421,042 456,246
2022 2021
€€
2022
ECCU Claims Experience Refund
Commission 3,991
Entrance Fees Other - Suspense
Total Per Income And Expenditure Account
8,759
2,664 519 535 153 150
15,285 12,108
10,622
For the year ended 30 September 2022
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