ITF

NOTES (CONT.) (FORMING PART OF THE FINANCIAL STATEMENTS) 18. Pensions 19. Auditor's remuneration Amounts receivable by auditor and their associates in respect of: 2019 2018 $000 $000 Audit of these financial statements 70 65 Other services relating to taxation 11 11 81 76 20. Investment income / (loss) 2019 2018 $000 $000 Income from investments 99 298 Realised gain on disposal of investments 416 1,330 Unrealised gain / (loss) on investments 7,529 (3,427) 8,044 (1,799) 21. Finance income Recognised in profit or loss 2019 2018 $000 $000 Finance income Bank interest received 150 - Financial income on Olympic deposits 232 239 382 239 22. Taxation Recognised in the income statement 2019 2018 $000 $000 Current tax expense Current year 724 109 724 109 ITF Licensing (UK) Ltd has established a pension provision within the UK for its employees. Since 1997, contributions paid by the ITF towards the pension fund of an individual have been held in a fund specific to each individual, under a group personal pension scheme. Employees are not required to make any contributions to this fund, which provides benefits related to the value of the fund accumulated for each employee at the time of retirement. In 2019 there were no contributions outstanding at the balance sheet date (2018: nil). a) The ITF Trust is domiciled in the Bahamas and is therefore not subject to income tax. Two subsidiaries are subject to income tax: ITF Licensing (UK) Ltd and Hopman Cup Pty Ltd. 23

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