ITF Trust Annual Report and Financial Statements 2022 32
2022
$000
2021
$000
Current
Receipts in advance 14,614 14,959
Olympic deferred income 7,695 7,756
Grand Slam Player Development Programme 1,947 2,252
24,256 24,967
Non-current
Olympic deferred income - 7,757
Dilapida ons
provision
$000
Balance at 1 January 2022 519
Released to the Income Statement (319)
Balance at 31 December 2022 200
2022
$000
Non-current 200
33. Deriva ve financial instruments – liability
The dilapida ons provision relates to the ITF's Roehampton property. The liability is expected to be incurred at the end
of a new as yet unsigned lease – see note 39.
35. Deferred income
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.
34. Provisions
2022
$000
2021
$000
Current foreign currency forwards – held for hedging 1,897 163
Notes (continued, forming part of the financial statements)