Notes To The Financial Statements (Continued) 30 June 2015 2015 $ 2014 $ 7. INTEREST BEARING BORROWINGS Secured loans at amortised cost Central Africa Building Society (CABS) loan 379 643 393 249 Amount due for settlement within 12 months 21 017 19 559 Amount due for settlement after 12 months 358 626 373 690 379 643 393 249 The principal features of the organisation's borrowings are as follows: (a) A mortgage loan of US$420 000. The loan was taken out on 01 August 2011 and is repayable in equal monthly instalments over 10 years. The loan carries an effective interest rate at 16.0 % per annum. The mortgage bond of US$420 000 was registered over the property at which the organisation operates, 16 Oxford Road, Avondale, Harare as security for the loan. Title deeds for Amalungelo Building, 94 Fort Street, Bulawayo valued at $105 000.00 were ceded as part collateral for the mortgage. 8. TRADE AND OTHER PAYABLES 8.1 TRADE AND OTHER PAYABLES Legal Publications Unit Creditors Employee-related liabilities Leave Pay Provision DANIDA/JSC Project (Unutilised Funds) Audit Fees ZimLii Special Projects Account (Unutilised Funds) Utilities Rentals Trustees’ Allowances Other 54 60 412 116 897 43 865 98 369 130 900 82 884 20 560 8 600 14 840 13 710 2 536 13 015 5 612 13 792 9 115 440 091 Legal Resources Foundation Annual Report 2015 195 016