ITF

ITF Trust Annual Report and Financial Statements 2021 26 15. Foreign exchange loss/gain Foreign exchange losses/gains represent the fall/rise in the value of foreign currency reserves held by the ITF as either working capital to fund its opera ons or for investment purposes, or foreign exchange losses/gains realised on transac ons completed during the year. Further details on the ITF's capital management policy are disclosed in note 36(f). 16. Staff numbers and costs The monthly average number of persons employed by the group (including directors) during the year, analysed by category, was as follows: Staff numbers in the year include an average of 10 ITF Development Officers (2020: 10) who work overseas with developing tennis na ons to ensure the ITF Development Programme is successfully implemented. The aggregate payroll costs of these persons were as follows: In addi on, staff costs of $223,000 were capitalised in the year in rela on to so ware development (2020: $221,000). The total staff costs of $11,625,000 (2020: $10,269,000), have been charged to the six departments as follows: 2021 $000 2020 $000 Wages and salaries 9,156 9,025 Social security costs 1,013 996 Contribu ons to defined contribu on plans 584 557 Grant income – Coronavirus Job Reten on Scheme - (530) 10,753 10,048 2021 $000 2020 $000 Professional Tennis 3,036 2,530 Tennis Development 1,969 1,670 Commercial 828 908 Presiden al and Communica ons 2,479 2,187 Integrity, Science and Technical 1,188 1,036 Finance and Administra on 2,125 1,938 11,625 10,269 The difference of $872,000 (2020: $221,000) between aggregate payroll costs and total staff costs relates to recruitment, temporary staff, training and other staff costs. No. of employees 2021 No. of employees 2020 Professional Tennis 43 47 Tennis Development 25 25 Commercial 9 11 Presiden al and Communica ons 17 18 Integrity, Science and Technical 11 11 Finance and Administra on 20 21 125 133 Notes (continued, forming part of the financial statements)

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