ITF

2025 $000 2024 $000 Current Receipts in advance 17,384 5,217 Olympic deferred income 6 ,161 6,161 Grand Slam Player Development Programme 2 ,115 1,816 Non–current Olympic deferred income 6 ,161 9,257 31,821 22,451 NOTES (Forming part of the Financial Statements) 37. Contract liabilities 38. Financial instruments (a) Fair values of financial instruments Investments in debt and equity securities The fair value of financial assets 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 estimated 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 estimated 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. Cash and cash equivalents The fair value of cash and cash equivalents is estimated as its carrying amount where the cash is repayable on demand. Where it is not repayable on demand then the fair value is estimated at the present value of future cash flows, discounted at the market rate of interest at the balance sheet date. Derivative financial instruments The fair value of forward exchange contracts is based on their listed market price, if available. If a listed market price is not available, then fair value is estimated by discounting the difference between the contractual forward price and the current forward price for the residual maturity of the contract using a risk-free interest rate (based on government bonds). Fair values The fair values for each class of financial assets and financial liabilities together with their carrying amounts shown in the balance sheet are as follows: ITF Trust Annual Report and Consolidated Financial Statements 36

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