ITF

7 The directors of ITF Limited in their capacity as Advisory Commi ee to the ITF Trust present their directors' report and financial statements for the year ended 31 December 2017. PRINCIPAL ACTIVITIES The principal ac vi es of the group are the development and administra on of the game of tennis worldwide. The surplus for the year a er tax was $5.3m (2016: surplus $1.5m). Please refer to the report of the Chairman of the Finance Commi ee on page 3 for a more detailed financial review of the year. POLICY AND PRACTICE ON PAYMENT OF CREDITORS The ITF con nues to operate a 30 day payment policy in respect of trade creditors. At the year end there were 13 days (2016: 8 days) purchases in trade payables. DIRECTORS The directors who held office throughout the year were as follows: Katrina Adams Mar n Corrie Ismail El Shafei Sergio Elias Bernard Giudicelli Jack Graham David Haggerty ATHLETE REPRESENTATIVES TO THE BOARD Mary Pierce Mark Woodforde EMPLOYEES The group is commi ed to employment prac ces, policies and procedures which follow best prac ce, based on equal opportuni es for all employees irrespec ve of gender, race, na onal origin, religion, colour, disability, sexual orienta on, age or marital status. Employees are kept closely involved in major changes affec ng them through such measures as team mee ngs, briefings and internal communica ons. There are well established procedures to ensure that the views of employees are taken into account in reaching decisions. POLITICAL AND CHARITABLE CONTRIBUTIONS During the year neither the Trust nor any of its subsidiaries made any poli cal dona ons or incurred any poli cal expenditure during the year (2016: nil). DISCLOSURE OF INFORMATION TO AUDITOR The directors who held office at the date of approval of this directors' report confirm that, so far as they are each aware, there is no relevant audit informa on of which the group's auditor is unaware; and each director has taken all the steps that they ought to have taken as a director to make themselves aware of any relevant audit informa on and to establish that the group's auditor is aware of that informa on. DIRECTORS' REPORT Anil Khanna Thomas Kønigsfeldt Celia Patrick Aleksei Selivanenko René Stammbach Stefan Tzvetkov Bulat Utemuratov STATEMENT OF DIRECTORS' RESPONSIBILITIES The directors of the ITF Trust ('the directors') have accepted responsibility for the prepara on of these non-statutory accounts for the year ended 31 December 2017 which are intended by them to give a true and fair view of the state of affairs of the group and of the surplus or deficit for that period. They have decided to prepare the non-statutory accounts in accordance with Interna onal Financial Repor ng Standards as adopted by the European Union (IFRSs as adopted by the EU). In preparing these non-statutory accounts, the directors have: • selected suitable accoun ng policies and applied them consistently; • made judgements and es mates that are reasonable and prudent; • stated whether they have been prepared in accordance with IFRSs as adopted by the EU; • assessed the group's ability to con nue as a going concern, disclosing, as applicable, ma ers related to going concern; and • used the going concern basis of accoun ng unless they either intend to liquidate the group or to cease opera ons, or have no realis c alterna ve but to do so. The directors are responsible for such internal control as they determine is necessary to enable the prepara on of non-statutory accounts that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the group and to prevent and detect fraud and other irregulari es. BY ORDER OF THE BOARD René Stammbach Chairman of the Finance Commi ee David Haggerty President Bank Lane, Roehampton, London SW15 5XZ 26 March 2018

• Cover