ITF

NOTES (CONT.) (FORMING PART OF THE FINANCIAL STATEMENTS) 18. Pensions 19. Auditors' remuneration Amounts receivable by auditor and their associates in respect of: 2020 2019 $000 $000 Audit of these financial statements 20 20 Audit of subsidiary financial statements 51 50 Other services relating to taxation 43 11 114 81 20. Investment income 2020 2019 $000 $000 Income from investments 6 99 Realised gain on disposal of investments 1,953 416 Unrealised gain on investments 2,320 7,529 4,279 8,044 21. Finance income Recognised in profit or loss 2020 2019 $000 $000 Finance income Bank interest received 22 150 Financial income on Olympic deposits 23 232 45 382 22. Taxation Recognised in the income statement 2020 2019 $000 $000 Current tax (credit) / charge Current year (626) 724 (626) 724 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 2020 there were $122,000 of contributions outstanding at the balance sheet date (2019: 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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