ITF

52 I ITF FINANCIAL STATEMENTS INTERNATIONAL TENNIS FEDERATION • ANNUAL REPORT AND ACCOUNTS 2015 Note 2015 2014 $000 $000 Cash fl ows from operating activities Surplus for the year (2,877 1,892 Adjustments for: Depreciation, amortisation and impairment 22 1,116 1,106 Decrease / (increase) in value of investments 19 3,221 (87 Financial income 19, 20 (655 (819 Foreign exchange loss 358 1,257 Gain on sale of investments 19 (1,902 (496 Taxation 21 150 320 (589 3,173 (Increase) / decrease in trade and other receivables (635 1,823 Decrease / (increase) in inventories 78 (61 Increase in trade and other payables 3,122 121 Decrease in deferred income (3,818 (9,604 (1,842 (4,548 Tax paid (154 (163 Net cash from operating activities (1,996 (4,711 Cash fl ows from investing activities Proceeds from sale of investments 32,606 15,291 Interest and dividends received 601 663 Acquisition of property, plant and equipment (1,130 (773 Disposal of short term investments (Olympics) 2,573 2,464 Acquisition of investments (33,117 (15,269 Net cash from investing activities 1,533 2,376 Net decrease in cash and cash equivalents (463 (2,335 Cash and cash equivalents at 1 January 2015 11,638 14,263 Effects of exchange rate fl uctuations on cash held (96 (290 Cash and cash equivalents at 31 December 2015 11,079 11,638 Being: Cash and cash equivalents per the balance sheet 10,306 10,645 Other short term deposits 26 773 993 Cash and cash equivalents at 31 December 2015 11,079 11,638 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Consolidated Cash Flow Statement for the year ended 31 December 2015

• Cover