ITF

Directors' Report ITF FINANCIAL STATEMENTS I 47 The directors of ITF Limited in their capacity as Advisory Committee to the ITF Trust present their directors' report and fi nancial statements for the year ended 31 December 2015. Principal activities The principal activities of the Group are the development and administration of the game of tennis worldwide. The defi cit for the year after tax was $2.9m (2014: surplus $1.9m). Please refer to the report of the Chairman of the Finance Committee on page 1 for a more detailed fi nancial review of the year. Policy and practice on payment of creditors The ITF continues to operate a 30 day payment policy in respect of trade creditors. At the year end there were 25 days (2014: 5 days) purchases in trade payables. Directors The directors who held offi ce throughout the year were as follows: Sergio Elias Jack Graham QC David Haggerty Anil Khanna Rene Stammbach The directors who held offi ce during the year and resigned on 25th September 2015 were as follows: Francesco Ricci Bitti Tarak Cherif Roman Murashkovsky Jean Gachassin Stephen Healy Juan Margets Stuart Smith OBE Jon Vegosen Georg von Waldenfels The directors who were appointed on 25th September 2015 and hold offi ce are as follows: Katrina Adams Martin Corrie Ismail El Shafei Bernard Giudicelli Thomas Kᴓnigsfeldt Celia Patrick Aleksei Selivanenko Stefan Tzvetkov Bulat Utemuratov Employees The Group is committed to employment practices, policies and procedures which follow best practice, based on equal opportunities for all employees irrespective of gender, race, national origin, religion, colour, disability, sexual orientation, age or marital status. Employees are kept closely involved in major changes affecting them through such measures as team meetings, briefi ngs and internal communications. There are well established procedures to ensure that the views of employees are taken into account in reaching decisions. Political and charitable contributions During the year the Trust made no charitable donations (2014: $10,000). Neither the Trust nor any of its subsidiaries made any political donations or incurred any political expenditure during the year. Disclosure of information to auditors The directors who held offi ce at the date of approval of this directors' report confi rm that, so far as they are each aware, there is no relevant audit information of which the Group's auditors are unaware; and each director has taken all the steps that he ought to have taken as a director to make himself aware of any relevant audit information and to establish that the Group's auditors are aware of that information. Responsibility statement The directors who held offi ce at the date of approval of this directors' report confi rm that, so far as they are each aware, the fi nancial statements have been prepared in accordance with the applicable set of accounting standards and give a true and fair view of the assets, liabilities, fi nancial position and profi t or loss of the Trust. Furthermore, they confi rm that the directors' report includes a fair review of the development and performance of the business and the principal risks and uncertainties that it faces. By order of the board Bank Lane, Roehampton, London SW15 5XZ 20 March 2016 David Haggerty President Rene Stammbach Chairman of the Finance Committee

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