61 #LoveOfTheHorse AnnuAl RePORT 2017 – 2018 27 EQUESTRIAN AUSTRALIA LIMITED ABN 19 077 455 755 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 (a) Terms and conditions and assets pledging as security relating to the above financial instruments The company has a bank loan secured by a first registered mortgage over a certain freehold land and buildings of the company and by a first registered equitable mortgage over all the company's assets and undertakings. The loan was fully paid off in the financial year ending 30 June 2018. Autopay facilities An autopay facility is maintained for Electronic Funds transfer purposes. 16 BORROWINGS Current Secured Bank loan - 209,299 Bank and financing arrangements The company has access to the following: Term loan facility (facility limit) - 295,999 Credit card facility 15,000 40,000 15,000 335,999 Facilities not utilised at balance date: Term loan facility (redraw available) - 295,999 Credit card facility 4,032 40,000 4,032 335,999 17 PROVISIONS 2018 2017 Current $ $ Employee benefits (a) 52,959 82,495 Non Current Employee benefits (a) 14,998 14,998 (a) Aggregate employee benefits liability 67,957 97,493 (b) Reconciliations Employee Benefits Total Opening balance as at 1 July 2017 97,493 97,493 Additional provisions raised during year 56,550 56,550 Amounts Used (86,086) (86,086) Balance at 30 June 2018 67,957 67,957