CAPITA FINANCIAL SERVICES INC. (ST. LUCIA BRANCH) Notes to the Financial Statements March 31, 2024 (expressed in Eastern Caribbean dollars) 22 4 Cash Resources Cash resources consist of the following: 2024 $ 2023 $ Bank balances 4,095,895 1,538,416 Short term deposits – 535,760 Cash and cash equivalents 4,095,895 2,074,176 Other term deposits 1,419,356 3,126,610 5,515,251 5,200,786 Less: Expected credit loss allowance (3,284) (3,284) Total cash resources 5,511,967 5,197,502 At March 31, 2024, cash resources carry interest at rates varying between 0.0% and 4.5% per annum (2023 - 0.0% to 4.5%). The movement in expected credit loss allowance on deposits is as follows: 2024 $ 2023 $ Balance at beginning of year 3,284 2,342 Expected credit loss- charge – 942 Balance at end of year 3,284 3,284 The expected credit loss allowance of $3,284 (2023 - $3,284) at March 31, 2024 relate to term deposits classified as stage 1.
RkJQdWJsaXNoZXIy MTA2MDM=