ITF

66 I ITF FINANCIAL STATEMENTS INTERNATIONAL TENNIS FEDERATION • ANNUAL REPORT AND ACCOUNTS 2015 29. Provisions The dilapidations provision relates to the Roehampton property. 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, 2014 and the remaining $6,076,000 recognised in 2015. The additional $188,000 recognised as deferred income in the current year relates to grants received towards event expenses for the Rio De Janeiro 2016 Olympic Games. 31. Financial Instruments (a) Fair values of fi nancial instruments Investments in debt and equity securities – The fair value of available-for-sale fi nancial 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 fl ows, 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 fl ows, discounted at the market rate of interest at the balance sheet date if the effect is material. 30. Deferred income Dilapidations provision $000 Balance at 1 January 2015 and at 31 December 2015 519 Non-current 519 Current - 519 2015 2014 $000 $000 Current Receipts in advance 9,599 7,613 Olympic deferred income 188 6,076 Grand Slam Development Fund 717 633 10,504 14,322 Notes (forming part of the fi nancial statements)

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