ITF

66 ITF FINANCIAL STATEMENTS NOTES (FORMING PART OF THE FINANCIAL STATEMENTS) Dilapidations provision $000 Balance at 1 January 2013 and 31 December 2014 519 Non-current 519 Current - 519 2014 2013 $000 $000 (a) Current Receipts in advance 7,613 8,151 Olympic deferred income 6,076 6,077 Hopman Cup Pty Ltd - 3,102 Grand Slam Development Fund 633 520 14,322 17,850 (b) Non-current Olympic deferred income - 6,076 The dilapidations provision relates to the Roehampton property. The deferred income in Hopman Cup arose in 2013 because of the revenue recognition policy described in note 5a. Due to the new licensing arrangement with Tennis Australia for the 2015 event, there is no deferred income balance in 2014 as expected. Olympic income for London 2012 totalled $25,170,000 with direct event related expenses of $1,557,000 (net $23,613,000) for the four-year Olympiad from 2012 to 2015 inclusive. $5,383,000 was recognised as income in 2012 and $6,076,000 was recognised in 2013. A further $6,076,000 was recognised in 2014 and the remaining amount has been deferred and will be released to the consolidated income and expenditure account in 2015. 31. Financial instruments (a) Fair values of financial instruments Investments in debt and equity securities The fair value of available-for-sale financial assets 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. 30. Deferred income 29. Provisions

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