ITF Trust Annual Report and Financial Statements 2021 33
2021
$000
2020
$000
Current
Receipts in advance 14,959 17,113
Olympic deferred income 7,756 -
Grand Slam Development Fund 2,252 1,542
24,967 18,655
Non Current
Olympic deferred income 7,757 -
Dilapida ons
provision
$000
Balance at 1 January 2021 and at 31 December 2021 519
Non-current 519
Current -
519
33. Deriva ve financial instruments – liability
The dilapida ons provision relates to the ITF's Roehampton property. The liability is expected to be incurred in 2023 at the
end of the opera ng lease.
35. Deferred income
The Grand Slam Development Fund was renamed the Grand Slam Player Development Programme in January 2022.
36. Financial instruments
(a) Fair values of financial instruments
Investments in debt and equity securi es
The fair value of financial assets at fair value through profit or loss 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.
34. Provisions
2021
$000
2020
$000
Current foreign currency forwards – held for hedging 163 -
