Issue link: http://itf.uberflip.com/i/1012097
28 30. PROVISIONS Balance at 1 January 2017 and at 31 December 2017 Non-current Current The dilapida ons provision relates to the Roehampton property. 31. DEFERRED INCOME Current Receipts in advance Olympic deferred income Grand Slam Development Fund Non-current Olympic deferred income Olympic income for Rio de Janeiro 2016 totalled $24,340,000 with direct event related expenses of $1,214,000 (net $23,126,000) for the four-year Olympiad from 2016 to 2019 inclusive. $5,773,000 was recognised as income in 2017 and the remainder has been deferred and will be released evenly to the consolidated income and expenditure account in 2018 and 2019. 32. FINANCIAL INSTRUMENTS a) Fair values of financial instruments Investments in debt and equity securi es The fair value of available-for-sale financial assets is determined by reference to their quoted bid price at the balance sheet date. Trade and other receivables The fair value of trade and other receivables is es mated as the present value of future cash flows, discounted at the market rate of interest at the balance sheet date if the effect is material. Trade and other payables The fair value of trade and other payables is es mated as the present value of future cash flows, discounted at the market rate of interest at the balance sheet date if the effect is material. Cash and cash equivalents The fair value of cash and cash equivalents is es mated as its carrying amount where the cash is repayable on demand. Where it is not repayable on demand then the fair value is es mated at the present value of future cash flows, discounted at the market rate of interest at the balance sheet date. Deriva ve financial instruments The fair value of forward exchange contracts is based on their listed market price, if available. If a listed market price is not available, then fair value is es mated by discoun ng the difference between the contractual forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate (based on government bonds). 2017 $000 19,142 5,773 1,169 26,084 5,773 Delapida ons Provision $000 519 519 - 519 2016 $000 13,785 5,808 843 20,436 11,616 NOTES (forming part of the financial statements)