CAPITA FINANCIAL SERVICES INC. (ST. LUCIA BRANCH) Notes to the Financial Statements March 31, 2024 (expressed in Eastern Caribbean dollars) 34 18 Expected credit loss (recovery)/expense 2024 $ 2023 $ Loans and advances (note 5) 250,888 (13,544) Term deposits (note 4) – 942 250,888 (12,602) 19 Other Operating Expenses 2024 $ (Restated) 2023 $ Advertising 33,207 34,898 Bank charges 3,991 4,000 Direct cost of services 33,294 568,265 Insurance 12,286 17,885 Janitorial services 10,800 10,800 Annual licenses 80,000 80,000 Audit fees 124,298 112,560 Legal and professional fees 25,615 41,577 Meetings and conference 11,741 5,097 Sundry expenses 22,225 19,249 Office stationery and supplies 51,445 14,757 Publicity and promotion 338 1,244 Repairs and maintenance 30,472 39,720 Other occupancy costs 185,753 12,851 Security services 37,986 36,602 Staff and members’ training 1,665 11,319 Utilities 72,100 64,489 737,216 1,075,313 The March 31, 2023 audit fees were adjusted to include amounts under accrued for the 2023 fiscal year. The adjustment amounts totaled $94,560, the pre-adjusted amount was reflected at $18,000, thus the total at March 31, 2023 increased from $18,000 to $112,560. Consequently, the total other operating expenses increased from $970,753 to $1,075,313 as at March 31,2023.
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