63 #LoveOfTheHorse AnnuAl RePORT 2017 – 2018 29 EQUESTRIAN AUSTRALIA LIMITED ABN 19 077 455 755 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 23. MEMBERS GUARANTEE The Company is limited by guarantee. If the company is wound up, the Constitution states that each member is required to contribute a maximum of $1 each towards meeting any outstanding obligations of the company. At 30 June 2018 the number of members was 6 (2017: 6). Cash at bank, on deposit and on hand 1,543,378 838,911 (ii) Reconciliation of cash flow from operations with surplus/ (deficit) for the year Surplus/ (deficit) for the year 176,809 159,083 - Adjustments and non cash items: Depreciation 48,747 59,005 Amortisation 34,322 34,280 Intangible Asset Impairment - - Doubtful debts expense - - Loss on disposal of assets - - Net cash provided before changes in assets and liabilities 259,878 (65,798) Changes in assets and liabilities during the financial year (Increase) / decrease in receivables (306,462) 42,803 (Increase) / decrease in other assets 4,457 (493,658) (Increase) / decrease in inventories on hand 12,525 18,637 (Decrease) / increase in payables (47,231) 302,407 (Decrease) / increase in employee provisions 2,627 15,345 (Decrease) / increase in other liabilities 997,064 (440,023) Cash flows from operating activities 922,857 (620,287) 2018 2017 $ $ 22 CAPITAL AND LEASING COMMITMENTS Non-cancellable operating leases contracted for but not capitalised in the financial statements: - payable not later than 1 year 17,883 15,298 - payable later than 1 year but no later than 5 years 68,552 25,497 86,435 40,795