Wondering if eligable for UK citizenship

Hello I was wondering if some one can answer this question for me. I am born and raised from Canada and both of my parents are from Barbados both born as British citizens because Barbados was a British colony at the time. I know that they lose all British status once Barbados became independent but I was told that I may still be eligible if a grandparent or great grandparent were from the UK. My question is does it matter on whether its on my fathers side or mothers side and how far down the family tree does the link end.

Thanks

check out the info for Anscestry Visa to the UK. You're not immediately eligible for citizenship tho I don't think.

http://www.workpermit.com/uk/ancestry.htm