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2017 ITF Annual Report and Financial Statements

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30 32. FINANCIAL INSTRUMENTS (CONTINUED) c) Liquidity Risk Financial risk management Liquidity risk is the risk that the group will not be able to meet its financial obliga ons as they fall due. The group has substan al cash balances and does not require any external funding of its opera ons. Processes are in place to issue invoices on a mely basis, monitor cash collec on closely and chase overdue balances promptly, in order to minimise liquidity risk. This is par cularly the case in respect of sponsorship income collec on, where the amounts involved can be significant. Liquidity risk: The following are the contractual maturi es of financial liabili es, including es mated interest payments and excluding the effect of ne ng agreements: Non-deriva ve financial liabili es Trade and other payables* Deriva ve financial liabili es Forward exchange contracts used for hedging: Ou low Inflow * Excludes deriva ves (shown separately above) d) Cash flow hedges Cash flow hedges The following table indicates the periods in which the cash flows associated with cash flow hedging instruments are expected to occur: Assets Liabili es Carrying amount $000 (2,479) (22,900) 24,099 (1,280) 2017 Contractual cash flows $000 (2,479) (22,900) 24,099 (1,280) 1 year or less $000 (2,479) (22,900) 24,099 (1,280) Carrying amount $000 (1,778) (22,623) 20,887 (3,514) 2016 Contractual cash flows $000 (1,778) (22,623) 20,887 (3,514) 1 year or less $000 (1,778) (22,623) 20,887 (3,514) Carrying amount $000 1,199 - 1,199 2017 Contractual cash flows $000 1,199 - 1,199 1 year or less $000 1,199 - 1,199 Carrying amount $000 - (1,722) (1,722) 2016 Contractual cash flows $000 - (1,722) (1,722) 1 year or less $000 - (1,722) (1,722) NOTES (forming part of the financial statements)

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