sign in sign up
<<
Home , Akgul Amanmuradova, Alexandra Dulgheru, Alexa Glatch, Alona Bondarenko, Anastasia Pivovarova, Anastasia Rodionova

THE ALL ENGLAND LAWN GROUND PLC Annual Report & Financial Statements

for the year ended 31 July 2011 M BLEDON.CO M WI Contents OFFICERS AND PROFESSIONAL ADVISERS Officers andP rofessional Advisers 1 Report of the Directors 2—5 DIRECTORS Statement of Directors’ Responsibilities 6 J A H CURRY cbe fca (CHAIRMAN) Independent Auditors’ Report 7 P W Bretherton Consolidated Profit andL oss Account 8 P G H BROOK fia Consolidated Balance Sheet 9 J S Dunningham obe Company Balance Sheet 10 miss V F GOODING cbe Consolidated Cash Flow Statement 11 S G Smith obe frics Notes to the Financial Statements 12—22 Secretary R G Atkinson fcma

Auditors Deloitte LLP Chartered Accountants AND STATUTORY AUDITORS Hill House 1 Little New Street London EC4A 3TR

Solicitors CMS Cameron McKenna Mitre House 160 Aldersgate Street London EC1A 4DD

Bankers HSBC Bank plc West End Corporate Banking Centre 70 Pall Mall London SW1Y 5EZ

Registrars and Transfer Office The All England Lawn Tennis Ground plc Church Road Wimbledon London SW19 5AE

Registered Office Deloitte LLP Hill House 1 Little New Street London EC4A 3TR

The All England Lawn Tennis Ground plc and subsidiary undertakings 1 THE CHAMPIONS 2011 Report of the Directors

The directors submit their annual report on the affairs of the Balance sheet group together with the financial statements and auditors’ Historically, the group has been able to fund the development of report for the year ended 31 July 2011. its grounds from cash inflows generated through its facility fee and the issue of debentures. However, due to the magnitude of 1. PRINCIPAL ACTIVITIES expenditure on redeveloping , the group arranged  The group’s principal activities are the ownership and development a £75,000,000 secured term loan with HSBC on 31 August 2007 of grounds in Wimbledon, London SW19, which are made available which was drawn down in full during the year ended 31 July 2009. for playing lawn tennis and croquet generally and for staging the As at 31 July 2011, the outstanding balance on this loan stood at Wimbledon Championships (‘The Championships’) specifically. £50,000,000 (2010: £65,000,000) with the repayments having There have not been any significant changes in the group’s been made in accordance with the repayment schedule agreed principal activities in the year under review. The directors are with HSBC. not aware, at the date of this report, of any likely major changes in the group’s activities in the next year. As shown in the analysis As at 31 July 2011, the net book value of the group’s tangible of turnover on page 13, the majority of the group’s income is from fixed assets stood at £332,917,000 (2010: £329,696,000), cash the facility fee associated with staging The Championships. balances stood at £21,186,000 (2010: £12,952,000) and long term borrowings stood at £45,500,000 (2010: £55,425,000) 2. BUSINESS REVIEW representing the outstanding long term balance on the loan facility Long Term Plan of £40,000,000 and the nominal value of the 2011-15 Centre Court The group is nearing completion of its firstL ong Term Plan to debenture issue and the 2012-2016 No. 1 Court debenture issue. develop the grounds in order to ensure that The Championships are provided with world class facilities for players, spectators, Debenture issues media and staff.O ver the last 15 years, the group has invested In May 2009, the group announced the successful issue of 2,500 substantially in the Long Term Plan constructing a new No.1 Centre Court debentures relating to the 2011-15 Championships. Court, the Broadcast Centre, the Millennium Building, the Museum Proceeds amounting to £37,500,000 (net of VAT) were received Building and a new Court 2 and also comprehensively redeveloping prior to the year ended 31 July 2011. Proceeds totalling a further Centre Court including installing a retractable roof in order to allow £22,500,000 were received during the year ended 31 July 2011. play to take place in wet weather. In June 2011, the group announced the successful issue of 1,000 During the financial year ended 31 July 2011, the group continued No. 1 Court debentures relating to the 2012-16 Championships. the implementation of the Long Term Plan. It completed new Proceeds amounting to £3,250,000 (net of VAT) were received Courts 3 and 4 and a number of other buildings to meet the during the year ended 31 July 2011. needs of the grounds and the building maintenance staff.I t also carried out the construction of new balconies providing extended As a result of these debenture issues the balance on the facilities for No.1 Court debenture holders. These two projects were Debenture Premium Reserve increased to £243,852,000 completed in time for the 2011 Championships and accounted for (2010: £218,602,000). Proceeds totalling a further £8,250,000 substantially all of the group’s fixed asset additions of £15,056,000 are due to be received in respect of the No. 1 Court debentures during the financial year (2010: £11,921,000). by 31 January 2012. The proceeds will be used to help repay the £75,000,000 loan in accordance with a repayment schedule Over the next two years, the group will carry out a redevelopment running through to 31 January 2015. of the Millennium Building in order to expand and improve the space available to the players. In addition, the group has now Related parties begun a planning process for further development of the grounds On 14 May 2009 the group, the Lawn Tennis Association (‘the LTA’) over the next decade or so. and The All England Lawn Tennis and Croquet Club (‘the Club’) agreed arrangements for the continuation of their relationship in Depreciation and facility fee respect of The Championships for at least a further 40 years The depreciation charge of £11,835,000 (2010: £10,618,000) from 1 August 2013. Under these arrangements, the Club will reflects the commencement of depreciation on capital expenditure purchase all of the LTA’s shares in the company as at 1 August 2013 on the two projects completed during the financial year ended subject to certain conditions being satisfied and will be permitted 31 July 2011. The facility fee of £14,581,000 (2010: 13,425,000) to instruct the company to buy back its own shares in order to increased correspondingly to provide a 2% return on capital meet some or all of the Club’s obligations to the LTA. In addition, expenditure on these two projects. The facility fee will increase the group will receive a facility fee broadly protected against in each of the next two financial years in line with inflation. inflation for 40 years based on the facility fee received for the year ending 31 July 2013.

Novak Djokovic Petra Kvitova GENTLEMEN’S SINGLES CHAMPION LADIES’ SINGLES CHAMPION

The All England Lawn Tennis Ground plc and subsidiary undertakings 3 Report of the Directors

Olympics On 1 August 2011, the Club’s assets, liabilities, rights and  Liquidity and cash flow risk 8. DIRECTORS In September 2010, the company and the Club signed a “venue obligations (including its shares in the company) were Historically, the group has been able to fund the development of The directors during the year under review were: use agreement” with the London Organising Committee of the transferred to a newly formed company The All England its grounds from cash inflows generated through its facility fee and Olympic Games and Paralympic Games Limited (“LOCOG”) which Lawn Tennis & Croquet Club Limited (“ClubCo”). Control of the issue of debentures. However, as expected, in the years ended ‘A’ Directors sets out the terms and conditions under which the company’s ClubCo rests with the same group of individuals who 31 July 2008 and 2009, the group’s capital expenditure on its Long J A H Curry (Chairman), P G H Brook (appointed 13 December grounds will be used by LOCOG to stage the tennis event at the previously controlled the Club. ClubCo or its subsidiaries Term Plan exceeded its cash flows. As a result, the group signed a 2010), J S Dunningham , T D Phillips (resigned 10 December 2010). 2012 London Olympics. will, in effect, replace theC lub as a counterparty in certain long-term £75,000,000 secured loan facility on 31 August 2007 contractual matters. which was used to fund capital expenditure. ‘B’ Directors 3. GROUP RESULTS P W Bretherton , D P Howorth (resigned 3 February 2011),  The consolidated operating profit of £2,241,000 (2010: £3,194,000) On 1 October 2011, the LTA’s shares in the company were The loan facility is due to be repaid according to an agreed Miss V F Gooding (appointed 3 February 2011), S G Smith. was lower than the prior year due primarily to costs related to transferred to a newly formed company Lawn Tennis Association repayment schedule using receipts from the annual facility fee the planning process for further development of the grounds. Limited (“LTACo”). The members of LTACo (i.e. its Counties, and future issues of debentures. The directors are confident that In accordance with the Articles of Association, the three ‘A’ The profit after taxation of £13,000 (2010: £1,320,000) was National and Island Associations and other represented bodies) The Championships will continue to pay the facility fee and that directors are appointed by the Club and the three ‘B’ directors also lower than the prior year due primarily to costs related are the same as members of the LTA. LTACo or its subsidiaries the successful applicants for the 2012-16 No. 1 Court debenture by the LTA. Subject to the provisions of the Articles of to the planning process. will, in effect, replace theL TA as a counterparty in certain issue will meet their obligations to pay a further £8,250,000 by Association, one ‘A’ director and one ‘B’ director are required to contractual matters. 31 January 2012. retire on 31 January in each year, but are eligible for The directors do not recommend the payment of a dividend re-appointment. (2010: £nil) and, after transfers of £6,259,000 (2010: £6,259,000) 6. FINANCIAL RISK MANAGEMENT OBJECTIVES On 1 August 2013, under the provisions of the 14 May 2009 from the Championships Rebuilding Reserve, a retained profit of  AND POLICIES agreement signed by the group, the LTA and the Club, the Club No directors’ remuneration is payable. £6,272,000 (2010: £7,579,000) was realised. The board recognises that the group’s activities expose it to will purchase all of the LTA’s shares in the company as at 1 August a number of financial risks including price risk, credit risk, 2013 subject to certain conditions being satisfied.U nder the  9. AUDITORS 4. PRINCIPAL OPERATIONAL RISKS AND UNCERTAINTIES liquidity and cash flow risk and interest rate risk. The board provisions of the agreement, the Club is permitted to ask the Each of the persons who is a director at the date of approval The key operational risk faced by the group relates to completion recognizes these risks and the importance of managing them. company to buy back its own shares in order to meet some or of this report confirms that: of construction work around the grounds. This risk involves the Accordingly, the group uses a variety of tools to monitor and all of the Club’s obligations to the LTA. If the Club were to do cost of construction materials, the use of sub-contract labour control these risks although it does not currently use derivative so, the company would require approval from HSBC and might (1) so far as the director is aware, there is no relevant audit and the pressure to complete the construction work and clear the financial instruments. require an extension of its existing term loan with HSBC or a new information of which the company’s auditors are unaware; and grounds in time for each year’s Championships. loan alongside its existing loan. See note 1 for consideration of Price risk preparation of financial statements on a going concern basis. (2) the director has taken all steps that he or she ought to have The group manages these risks by only working with long standing The group is exposed to price risk in the construction industry taken as a director in order to make himself or herself aware and approved contractors, purchasing materials as much in in the context of its Long Term Plan to develop the grounds. Interest rate risk of any relevant audit information and to establish that the advance as possible to limit exposure to price changes and by Construction price pressures have weakened significantly in The group is exposed to interest rate risk since the interest company’s auditors are aware of that information. continuing actively to manage and control the Long Term Plan recent years but the group’s quantity surveyors continue to payable on the loan facility floats in line withLIBOR . The directors through regular reporting and management meetings. prepare regular formal reports with forecasts of Long Term have explored the possibility of using interest rate swap contracts This confirmation is given and should be interpreted in Plan expenditure for presentation to and review by the board. to manage this risk but, in view of the historically low level of accordance with the provisions of S418 of the Companies The experience of the directors and Secretary in managing LIBOR and the likelihood that this low level will continue, have Act 2006. construction projects and the financial implications associated Credit risk decided not to fix interest rates. The decision to allow interest with such projects is a significant asset in the management The group’s financial assets are primarily cash, short-term rates to float is reflected in the decrease in the interest payable Deloitte LLP have indicated their willingness to accept of these risks. deposits and other liquid funds and receivables. on bank borrowings. reappointment as auditors of the company for a further term in accordance with the provisions of the Companies Act 2006. In any event, the magnitude of these risks has reduced significantly The credit risk on liquid funds is limited because HSBC, the 7. CREDITORS PAYMENT POLICY following the completion of the redevelopment of Centre Court counterparty, is a bank which continues to be assigned strong It is the group’s policy to ensure that all creditors are paid in Approved by order of the Board of Directors and signed on and the successful deployment of the new retractable roof during credit ratings by international credit rating agencies. accordance with agreed terms and conditions once a satisfactory behalf of the Board the 2009, 2010 and 2011 Championships. service has been delivered. The company’s creditor payment period The group’s credit risk is attributable to receivables with for the year ended 31 July 2011 was 54 days (2010 - 35 days). 5. POST-BALANCE SHEET EVENTS substantially all of its receivables being due from the Club Since 1 August 2011, the group has refunded substantially all which stages The Championships on the group’s grounds and of the £425,000 nominal value of the No. 1 Court debentures which is one of the controlling parties (see note 24). In view relating to the 2007-11 Championships. Under the terms of the of this concentration of risk, the company’s directors are kept debenture prospectus, the group was contractually committed informed of any material changes in the financial strength of to refund the nominal value of a debenture on 1 August 2011 The Championships which have, however, been highly profitable provided that the holder of the debenture had returned the for many years. R. G. ATKINSON relevant debenture certificate. SECRETARY

4 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 5 STATEMENT OF Directors’ RESPONSIBILITIES INDEPENDENT AUDITORS’ REPORT

TO THE MEMBERS OF THE ALL ENGLAND LAWN TENNIS GROUND PLC

The directors are responsible for preparing the annual report and We have audited the financial statements of The AllE ngland Lawn Opinion on other matters prescribed by the Companies the financial statements in accordance with applicable law and Tennis Ground plc for the year ended 31 July 2011 which comprise Act 2006 regulations. the consolidated profit and loss account, the consolidated and In our opinion the information given in the Directors’ Report for company balance sheets, the consolidated cash flow statement, the financial year for which the financial statements are prepared Company law requires the directors to prepare financial and the related notes 1 to 25. The financial reporting framework is consistent with the financial statements. statements for each financial year.U nder that law the directors that has been applied in their preparation is applicable law and have elected to prepare the financial statements in accordance United Kingdom Accounting Standards (United Kingdom Generally Matters on which we are required to report by exception with United Kingdom Generally Accepted Accounting Practice Accepted Accounting Practice). We have nothing to report in respect of the following matters (United Kingdom Accounting Standards and applicable law). where the Companies Act 2006 requires us to report to you if, in Under company law the directors must not approve the financial This report is made solely to the company’s members, as a body, our opinion: statements unless they are satisfied that they give a true and fair in accordance with Chapter 3 of Part 16 the Companies Act 2006. view of the state of the affairs of the company and the group Our audit work has been undertaken so that we might state to the • adequate accounting records have not been kept by the parent and of the profit or loss of the group for that period.I n preparing company’s members those matters we are required to state to  company, or returns adequate for our audit have not been these financial statements, the directors are required to: them in an auditors’ report and for no other purpose. To the fullest received from branches not visited by us; or extent permitted by law, we do not accept or assume responsibility • select suitable accounting policies and then apply to anyone other than the company and the company’s members • the parent company financial statements are not in agreement them consistently; as a body, for our audit work, for this report, or for the opinions we with the accounting records and returns; or have formed.  • make judgements and estimates that are reasonable and prudent; • certain disclosures of directors’ remuneration specified by law Respective responsibilities of directors and auditors are not made; or • state whether applicable UK Accounting Standards As explained more fully in the Directors’ Responsibilities Statement, have been followed; and the directors are responsible for the preparation of the financial • we have not received all the information and explanations we statements and for being satisfied that they give a true and fair require for our audit. • prepare the financial statements on the going concern basis view. Our responsibility is to audit and express an opinion on unless it is inappropriate to presume that the company will the financial statements in accordance with applicable law and continue in business. International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s The directors are responsible for keeping adequate accounting (APB’s) Ethical Standards for Auditors. records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time Scope of the audit of the financial statements the financial position of the company and enable them to ensure An audit involves obtaining evidence about the amounts and that the financial statements comply with theC ompanies Act disclosures in the financial statements sufficient to give reasonable Mark Goodey 2006. They are also responsible for safeguarding the assets assurance that the financial statements are free from material  (Senior Statutory Auditor) of the company and hence for taking reasonable steps for the misstatement, whether caused by fraud or error. This includes an prevention and detection of fraud and other irregularities. assessment of: whether the accounting policies are appropriate for and on behalf of Deloitte LLP to the group’s and the parent company’s circumstances and Chartered Accountants and Statutory Auditors have been consistently applied and adequately disclosed; the London, United Kingdom reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. 31 October 2011 In addition, we read all the financial and non-financial information in the annual report to identify material inconsistencies with the audited financial statements.I f we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements In our opinion the financial statements:

• give a true and fair view of the state of the group’s and the parent  company’s affairs as at 31 July 2011 and of the group’s profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

6 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 7 Consolidated Profit and Loss Account CONSOLIDATED Balance Sheet

Year ended 31 July at 31 July

2011 2010 2011 2010 Notes £000 £000 Notes £000 £000 Fixed Assets Turnover 1, 2 15,875 14,726 Tangible assets 9 332,917 329,696 Cost of sales (126) (112) Investments 10 360 360 333,277 330,056 Gross profit 15,749 14,614 Current assets Administrative expenses (13,508) (11,420) Debtors - falling due within one year 11 2,158 482 Debtors - falling due after more than one year 11 6,059 6,059 Operating profit 2,241 3,194 Amount due from The All England Lawn Tennis & Croquet Club 12 135 2,588 Interest payable and similar charges 4 (581) (624) Cash at bank and in hand 21,186 12,952 Interest receivable and other income 5 69 12 29,538 22,081 Creditors: amounts falling due within one year Profit on ordinary activities before taxation 6 1,729 2,582 Trade creditors (195) (219) Tax on profit on ordinary activities 7 (1,716) (1,262) Other creditors 13 (13,906) (21,261) Corporation tax payable - (1,326) Profit on ordinary activities after taxation 13 1,320 (14,101) (22,806) Transfer from Championships Rebuilding Reserve 17 6,259 6,259 Net current assets/(liabilities) 15,437 (725) Total assets less current liabilities 348,714 329,331 Retained profit for the financial year 6,272 7,579 Creditors: amounts falling due after more than one year 14 (45,500) (55,425) Balance brought forward from previous year 24,082 16,503 Provisions for liabilities and charges 15 (16,378) (12,333) 286,836 261,573 Profit and loss account carried forward 30,354 24,082 Capital and reserves Called up share capital 16 58 58 Other reserves 17 256,424 237,433 All results are from continuing operations and there are no recognised gains or losses other than the profit disclosed in the above profit and loss account for the current or preceding year. Profit and loss account 30,354 24,082 Accordingly, no statement of total recognised gains and losses is presented. Shareholders’ funds 22 286,836 261,573

These financial statements of The AllE ngland Lawn Tennis Ground plc, company number 168491, were approved by the Board of Directors on 31 October 2011.

Signed on behalf of the Board of Directors

J A H CURRY P W BRETHERTON Directors

8 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 9 COMPANY Balance Sheet CONSOLIDATED CASH FLOW STATEMENT

at 31 July YEAR ENDED 31 JULY

2011 2010 2011 2010 Notes £000 £000 Notes £000 £000 £000 £000 Fixed Assets Net cash flow from operating activities 19 19,537 7,098 Tangible assets 9 332,917 329,696 Investments 10 381 381 Returns on investments and servicing of finance 333,298 330,077 Interest received 69 12 Current assets Interest paid (581) (624) Debtors - falling due within one year 11 2,158 482 Debtors - falling due after more than one year 11 6,059 6,059 Net cash outflow from returns on investments (512) (612) and servicing of finance Amount due from The All England Lawn Tennis & Croquet Club 12 135 2,588 Cash at bank and in hand 21,186 12,952 29,538 22,081 Taxation Creditors: amounts falling due within one year United Kingdom Corporation tax paid (732) (270) Trade creditors (195) (219) Other creditors 13 (13,906) (21,261) Capital expenditure and financial Investment Corporation tax payable - (1,326) Purchase of tangible fixed assets (16,262) (9,704) (14,101) (22,806) Net current assets/(liabilities) 15,437 (725) Cash inflow/(outflow) before use of liquid resources and financing 2,031 (3,488) Total assets less current liabilities 348,735 329,352 Financing Creditors: amount falling due after more than one year 14 (45,521) (55,446) Long term loan (15,000) (10,000) Provisions for liabilities and charges 15 (16,378) (12,333) Debentures 286,836 261,573 Redemption of 2006–2010 Centre Court Series (4,547) - Proceeds of Third/ Second Tranche 2011-2015 Centre Court Series 22,500 22,500 Capital and reserves Proceeds of First Tranche 2012-2016 No. 1 Court Series 3,250 - Called up share capital 16 58 58 Other reserves 17 256,424 237,433 Net cash inflow from financing 6,203 12,500 Profit and loss account 30,354 24,082 Shareholders’ funds 22 286,836 261,573 Increase in cash in the year 21 8,234 9,012

These financial statements of The AllE ngland Lawn Tennis Ground plc, company number 168491, were approved by the Board of Directors on 31 October 2011

Signed on behalf of the Board of Directors

J A H CURRY P W BRETHERTON Directors

10 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 11 NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 July

1. Accounting Policies (e) Turnover 2. Analysis of Turnover  The principal accounting policies are summarised below. All have The figure for turnover represents sales to third parties net of  2011 2010 value added tax and facility fees payable by The Championships. been applied consistently throughout the current and preceding £000 £000 year for the group and the company. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right (a) Accounting convention to consideration and is recorded at the value of the consideration Facility fees payable by The Championships 14,511 13,355 The financial statements are prepared under the historical cost due. Where a contract has only been partially completed at the Facility fees payable by the Wimbledon Museum 25 25 convention and in accordance with applicable United Kingdom balance sheet date turnover represents the value of the service Facility fees payable by the Lawn Tennis Association 45 45 Accounting Standards. provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of 14,581 13,425 (b) Basis of accounting services provided, the amounts are recorded as deferred income Other 1,294 1,301 and included as part of creditors due within one year. The consolidated financial statements incorporate the financial 15,875 14,726 statements of The All England Lawn Tennis Ground plc and its subsidiary undertakings. (f) Investments All turnover is derived in the United Kingdom Shares in group companies are stated at cost less provision for (c) Tangible fixed assets impairment in value. Investments held as current assets are stated Tangible fixed assets are stated at cost, net of depreciation. at the lower of cost and net realisable value. Depreciation is not provided on freehold land. On other assets, it is provided on cost in equal annual instalments over (g) Interest receivable 3. Information regarding Directors the estimated lives of the assets. The rates of depreciation Interest on investments credited in the financial statements is and Employees accrued on a day-to-day basis. are as follows: Directors’ emoluments: The directors received no remuneration during the financial year (2010 - N£ il). (h) Going concern Freehold buildings, expenditure on No people were employed during the year (2010 – Nil) excluding directors. grounds etc. (see note 9) 2% The group is funded on an ongoing basis by the annual facility fee pavilion at Raynes Park Sports Ground 4% received from The Championships and by the issue of debentures plant and machinery 5%-10% and since 31 August 2007 has also had a long-term secured loan Fixtures and fittings 20% facility with HSBC (see business review on page 3). The board of directors is satisfied that on the basis of the group’s cash flow museum equipment 10%-20% 4. INTEREST PAYABLE AND SIMILAR CHARGES museum exhibits, library books, projections and the funding sources in place, it is appropriate for 2011 2010 films etc. (see note 9) 0%-10% the financial statements to be prepared on a going concern basis. £000 £000

(d) Deferred taxation In accordance with FRS19 “Deferred Taxation”, deferred taxation is Bank interest payable 581 624 provided in full on all timing differences that result in an obligation 581 624 at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise, based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in 5. INTEREST RECEIVABLE AND OTHER INCOME taxation computations in periods different from those in which 2011 2010 they are included in financial statements.D eferred tax assets are £000 £000 recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted. Interest on bank deposits 69 12 69 12 Current taxation, including United Kingdom corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

12 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 13

6. PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION 7. TAX ON PROFIT/(LOSS) ON ORDINARY ACTIVITIES  2011 2010  2011 2010 £000 £000 £000 £000

Profit/ (Loss) on ordinary activities before taxation is after Current Tax: charging: United Kingdom corporation tax at 27.33% (2010 – 28%) 1,834 2,155 Depreciation on tangible fixed assets 11,835 10,618 Adjustment in respect of prior years - corporation tax (4,163) (22) Auditors’ remuneration – audit fees 31 22 Current year tax charge/ (credit) for the year (2,329) 2,133 Taxation services 119 57 Adjustment in respect of prior years - deferred taxation 4,654 (1,243) Deferred taxation - capital allowances in excess of depreciation (see note 15) 843 The analysis of auditors’ remuneration is as follows: 305 Adjustment due to proposed change in rate of UK corporation tax (471) Fees payable to the company’s auditors for the audit of the (914) company’s annual accounts 22 31 1,716 1,262

Fees payable to the company’s auditors and their associates for Reconciliation of current year taxation charge 2011 2010 other services to the group – all amounts relate to tax and audit £000 £000 services in both years 119 57

Profit/ (Loss) on ordinary activities before taxation 1,729 2,582 Total auditors’ remuneration 150 79 Tax charge/ (credit) on profit on ordinary activities 472 723 Factors affecting charge: Fees payable to Deloitte LLP and their associates for non-audit services to the company are not required to be disclosed because the consolidated financial statements are required to disclose such Expenses not deductible for taxation purposes 1,732 2,305 fees on a consolidated basis. Capital allowances in excess of depreciation (370) (873) Prior period adjustments (4,163) (22) Current taxation charge/ (credit) for the year (2,329) 2,133

The Finance Act (No.2) 2010, which provided for a reduction in the main rate of UK corporation tax from 28% to 27% effective from 1 April 2011, was substantively enacted on 21 July 2010. The 2011 budget (delivered on 23 March 2011) announced a further reduction of 1% to the UK corporation tax rate, causing the rate to fall to 26% effective from 1 April 2011. The current tax charge reflects the fall in rate to 26%.

The Finance Act 2011, which provides for a further reduction in the main rate of UK corporation tax from 26% to 25% effective from 1 April 2012, was substantively enacted on 19 July 2011.D eferred tax balances carried forward therefore reflect the 25% rate.

The Government has also indicated that it intends to introduce further reductions in the main tax rate, with the rate falling by 1% each year down to 23% by 1 April 2014. These further reductions to the tax rates have not been substantively enacted at the balance sheet date and are therefore not reflected in these financial statements.

14 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 15

8. Profit of Parent Company 10. INVESTMENTS HELD AS FIXED ASSETS As permitted by Section 408 of the Companies Act 206, the profit and loss account of the parent THE GROUP THE COMPANY company is not presented as part of these financial statements. The consolidated profit and loss account includes a profit after taxation of £13,000 (2010: £1,320,000) which is attributable to the 2011 2010 2011 2010 parent company. £000 £000 £000 £000

The balance on the profit and loss account of the parent company carried forward, after adding the The Queen’s Club 360 360 360 360 profit after taxation for the financial year and after transferring £6,259,000 from theC hampionships Rebuilding Reserve (2010: transferring £6,259,000 from the Championships Rebuilding Reserve), Shares in subsidiary undertakings at cost - - 21 21 is a surplus of £30,354,000 (2010: £24,082,000). 360 360 381 381

At 31 July 2010, the following undertakings were subsidiaries of the company: 9. TANGIBLE FIXED ASSETS Country of Activity Class of % Shares Registration Share Held  Freehold land & Plant & Exhibits, Total buildings equipment films and The All England Motor Park Limited England & Wales Dormant Ordinary 100 library books THE GROUP AND THE COMPANY £000 £000 £000 £000 The Wimbledon Lawn Tennis Museum Limited England & Wales Dormant Ordinary 100 Cost At 1 August 2010 389,252 1,642 1,383 392,277 Additions during the year 15,027 - 29 15,056 Total at 31 July 2011 404,279 1,642 1,412 407,333 11. DEBTORS THE GROUP THE COMPANY Depreciation 2011 2010 2011 2010 At 1 August 2010 60,155 1,642 784 62,581 £000 £000 £000 £000 Charge for the year 11,835 - - 11,835 Falling due within one year: Total at 31 July 2011 71,990 1,642 784 74,416 Trade debtors 30 58 30 58 Corporation tax debtor (see note 7) 1,736 - 1,736 - Net book value Prepayments and accrued income 392 424 392 424 31 July 2011 332,289 - 628 332,917 2,158 482 2,158 482 31 July 2010 329,097 - 599 329,696

Due after more than one year: Depreciation is not charged on freehold land with a cost of £8,749,000 (2010: £8,749,000). LTA 6,059 6,059 6,059 6,059

The additions to fixed assets include £15,027,000 (2010: £11,867,000) of expenditure on theL ong Term Total Debtors 8,217 6,541 8,217 6,541 Plan for the development of the Wimbledon grounds.

Freehold land and buildings have been provided as security against the loan (see note 14). Under the 14 May 2009 agreement, the loan to the LTA is repayable on 1 August 2013.

12. AMOUNT DUE FROM THE CLUB IN RESPECT OF  THE CHAMPIONSHIPS, WIMBLEDON The following related party transactions have occurred during the year ended 31 July 2011 with the Club THE GROUP THE COMPANY £000 £000

Due from the Club at 1 August 2010 2,588 2,588 Facility fees payable by The Championships 14,536 14,536 Interface costs payable by The Championships 65 65 VAT charged in year 3,044 3,044 Payments (21,529) (21,529) Sundry costs and receipts recharged 1,431 1,431 Due from the Club at 31 July 2011 135 135

In accordance with FRS 8 ‘Related Party Disclosures’, transactions with other undertakings within the group have not been disclosed in these financial statements.

16 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 17

13. OTHER CREDITORS 15. PROVISIONS FOR LIABILITIES AND CHARGES Deferred taxation movement for the year THE GROUP THE COMPANY THE GROUP THE COMPANY 2011 2010 2011 2010 2011 2010 2011 2010 £000 £000 £000 £000 £000 £000 £000 £000

VAT 648 327 648 327 At 1 August 12,333 13,204 12,333 13,204 Debentures creditors 713 4,835 713 4,835 Accruals and other creditors 2,545 1,099 2,545 1,099 Charge to profit and loss account Loan 10,000 15,000 10,000 15,000 13,906 21,261 13,906 21,261 Deferred Taxation Current Year 305 843 305 843 Prior year 4,654 (1,243) 4,654 (1,243) Change in rate (914) (471) (914) (471) 14. CREDITORS: AMOUNTS FALLING DUE AFTER At 31 July 16,378 12,333 16,378 12,333  MORE THAN ONE YEAR THE GROUP THE COMPANY Analysis of deferred tax THE GROUP THE COMPANY 2011 2010 2011 2010 2011 2010 2011 2010 £000 £000 £000 £000 £000 £000 £000 £000

Loan 40,000 50,000 40,000 50,000 Capital allowances in excess of depreciation 16,378 12,333 16,378 12,333 The All England Motor Park Limited - - 21 21 Closing balance 16,378 12,333 16,378 12,333 Debentures: 2007-2011 No.1 Court Series - 425 - 425 Debentures: 2011-2015 Centre Court Series 5,000 5,000 5,000 5,000 Debentures: 2012-2016 No.1 Court Series 500 - 500 - 45,500 55,425 45,521 55,446

16. CALLED UP SHARE CAPITAL 2011 2010  £ £ The loan is secured on the freehold property known as the All England Lawn Tennis Ground, Church Road, Wimbledon. Interest is payable at a floating rate based onLIBOR . The loan is Authorised, called up, allotted and fully paid repayable according to an agreed repayment schedule by 31 January 2015. Those repayments that are due on or before 31 July 2012 are shown within other creditors. 29,078 ‘A’ Ordinary Shares of £1 each 29,078 29,078 29,078 ‘B’ Ordinary Shares of £1 each 29,078 29,078 The 2007-2011 No.1 Court debentures which are free of interest and unsecured are repayable 58,156 58,156 at par on 1 August 2011.

The 2011-2015 Centre Court debentures which are free of interest and unsecured are repayable at par on 3 August 2015. The ‘A’ Ordinary Shares and ‘B’ Ordinary Shares rank pari passu. The 2012-2016 No.1 Court debentures which are free of interest and unsecured are repayable The beneficial ownership of the ‘A’O rdinary shares rests with the Club; at par on 1 August 2016. the beneficial ownership of the ‘B’ Ordinary shares rests with the LTA. The loan from The All England Motor Park Limited is interest free and has no fixed repayment terms.

The amount that falls due after more than five years is £500,000 (2010: £5,000,000).

18 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 19

17. OTHER RESERVES 19. RECONCILIATION OF OPERATING PROFIT Debenture Championships Other Total TO OPERATING CASH FLOWS Premium Rebuilding Reserves 2011 2010 Reserve Reserve £000 £000

THE GROUP £000 £000 £000 £000 Operating Profit 2,241 3,194 Depreciation charge 11,835 10,618 At 1 August 2010 218,602 18,775 56 237,433 Decrease/ (Increase) in debtors 2,513 (180) Debenture premiums received 25,250 - - 25,250 Increase/ (Decrease) in creditors 2,948 (6,534) Transferred to profit and loss account - (6,259) - (6,259) 19,537 7,098 At 31 July 2011 243,852 12,516 56 256,424

THE COMPANY £000 £000 £000 £000 20. RECONCILIATION OF NET CASH FLOW At 1 August 2010 218,602 18,775 56 237,433  TO MOVEMENT IN NET FUNDS Debenture premiums received 25,250 - - 25,250 2011 2010 Transferred to profit and loss account - (6,259) - (6,259) £000 £000 At 31 July 2011 243,852 12,516 56 256,424 Increase in cash in the year 8,234 9,012

Cash outflow from long term loans 15,000 10,000 The Championships Rebuilding Reserve was established to set aside funds to meet the potential long term rebuilding costs of facilities for staging The Championships. The reserve is being transferred to Redemption of 2006-2010 Centre Court debenture series 4,547 - the profit and loss account over a five year period as the group incurs higher depreciation related to Third/ Second tranche 2011-2015 Centre Court debenture series (22,500) (22,500) the Centre Court building project. Accordingly the reserve will be fully transferred by 31 July 2013. First tranche 2012-2016 No. 1 Court debenture series (3,250) - Change in net funds resulting from cash flows 2,031 (3,488) Other Reserves comprise the Lord Ritchie Library Fund and General Reserve. Transfer debenture premiums to reserves 25,250 22,500 The reserves are all non-distributable. 27,281 19,012 Net funds at 1 August 2010 and 1 August 2009 (62,308) (81,320)

Net funds at 31 July (35,027) (62,308)

18. CAPITAL COMMITMENTS The All England Lawn Tennis Ground plc includes as liquid resources term deposits of less than one year. THE GROUP THE COMPANY 2011 2010 2011 2010 £000 £000 £000 £000 21. ANALYSIS OF NET FUNDS Contracted but not provided for in these accounts 13,340 9,272 13,340 9,272 At 1 August Cash Flow At 31 July

These capital commitments relate wholly to the Long Term Plan. 2010 2011 £000 £000 £000

 Cash at bank and in hand 12,952 8,234 21,186

Long term loan (65,000) 15,000 (50,000) Debentures due within one year (4,835) 4,122 (713) Debentures due after one year (5,425) (75) (5,500) (62,308) 27,281 (35,027)

20 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 21 THE GENTLEMEN’S SINGLES CHAMPIONSHIP 2011

CHAMPION 2010:

22. RECONCILIATION OF MOVEMENT IN 2011 2010 SHAREHOLDERS’ FUNDS FIRST ROUND SECOND ROUND THIRD ROUND FOURTH ROUND QUARTER-FINALS SEMI-FINALS FINAL 1. Rafael Nadal [1] (1) (ESP) £000 £000 Rafael Nadal [1] 6/4 6/2 6/2 2. Michael Russell (90) (USA) } Rafael Nadal [1] 3. Pablo Andujar (50) (ESP) 6/3 6/2 6/4 4. (69) (USA) } Ryan Sweeting 3/6 4/6 6/1 7/6(1) 6/1 (WC) 5. Gilles Muller (92) (LUX) Rafael Nadal [1] Gilles Muller 7/6(5) 7/6(3) 3/6 6/3 6. Tommy Haas (20) (GER) } Gilles Muller 7/6(6) 7/6(5) 6/0 Profit for the year 13 1,320 (LL) 7. (119) (FRA) 6/3 7/6(3) 6/3 2/3 Ret’d 8. [31] (25) (CAN) } Milos Raonic [31] Premium on 2,500 Centre Court debentures 22,500 9. Juan Martin Del Potro [24] (21) (ARG) Rafael Nadal [1] 22,500 (Q) 10. Flavio Cipolla (112) (ITA) Juan Martin Del Potro [24] 6/1 6/4 6/3 } Juan Martin Del Potro [24] 7/6(6) 3/6 7/6(4) 6/4 11. (73) (BEL) 6/7(7) 6/1 6/0 6/4 Premium on 1,000 No.1 Court debentures 2,750 - (Q) 12. (234) (FRA) } Olivier Rochus 6/7(6) 3/6 6/3 6/1 6/4 13. Frederico Gil (91) (POR) Juan Martin Del Potro [24] (WC) 14. (84) (ISR) Dudi Sela 6/4 6/1 6/4 7/6(8) 7/6(5) 7/5 } [15] Opening shareholders’ funds 261,573 237,753 (Q) 15. Edouard Roger-Vasselin (145) (FRA) 4/6 6/4 6/3 7/6(3) 7/6(3) 6/4 7/5 16. Gilles Simon [15] (16) (FRA) } Gilles Simon [15] Closing shareholders’ funds 286,836 261,573 17. [10] (9) (USA) 18. (48) (ESP) Mardy Fish [10] 7/6(3) 7/6(5) 6/4 } Mardy Fish [10] 19. (39) (GER) 7/6(6) 6/4 6/4 20. (65) (UZB) } Denis Istomin 4/6 6/3 6/3 6/3 21. (58) (NED) Mardy Fish [10] Robin Haase 6/4 6/4 6/4 [1] Nadal Rafael 6/4 5/7 6/3 6/3 22. Pere Riba (71) (ESP) } Robin Haase 6/3 6/7(5) 6/2 1/1 Ret’d 23. Radek Stepanek (60) (CZE) In the opinion of the directors, the nature of the premiums received on the debentures is not 2/6 4/6 6/3 7/6(6) 9/7 6/3 6/4 4/6 6/2 24. [21] (22) (ESP) } Fernando Verdasco [21] 25. [25] (20) (ARG) a finance item within the spirit of FinancialR eporting Standard 4. The premiums are received by the Juan Ignacio Chela [25] 6/4 6/4 6/7(6) 6/2 Mardy Fish [10] (Q) 26. (150) (AUS) } Alex Bogomolov Jr. 7/6(5) 6/4 6/4 27. (111) (USA) company because the debentures carry the privilege to receive Centre and No.1 Court tickets for future Alex Bogomolov Jr 7/5 4/6 6/3 6/1 6/0 6/3 6/4 28. Alex Bogomolov Jr. (72) (USA) } (Q) 29. (163) (BEL) Tomas Berdych [6] Championships. This privilege is conveyed by the shareholders of the company, rather than by the 30. Julien Benneteau (77) (FRA) Julien Benneteau 6/4 6/2 3/6 4/6 6/1 6/2 6/4 6/3 } Tomas Berdych [6] 31. (81) (ITA) company itself, and accordingly the premiums received are recognised as a movement in Shareholders’ 6/2 6/2 6/1 6/1 6/4 6/2 32. Tomas Berdych [6] (7) (CZE) } Tomas Berdych [6] 33. [4] (4) (GBR) Funds. The value of the Centre and No.1 Court tickets for the 2011 Championships was £2,415,435 34. Daniel Gimeno-Traver (59) (ESP) Andy Murray [4] 4/6 6/3 6/0 6/0 } Andy Murray [4] 35. (83) (GER) 6/3 6/3 7/5 36. Blaz Kavcic (74) (SLO) } Tobias Kamke 6/3 7/6(4) 5/7 6/1 37. (46) (UKR) Andy Murray [4] Sergiy Stakhovsky 6/2 6/4 6/4 [1] Nadal Rafael 6/4 6/2 6/2 5/7 (WC) 38. (273) (GBR) } Ivan Ljubicic 6/4 4/6 6/1 7/6(4) 39. Ivan Ljubicic (33) (CRO) Ivan Ljubicic 7/6(2) 3/6 6/3 6/4 6/4 6/4 6/2 40. Marin Cilic [27] (26) (CRO) } (13) (FRA) 41. [17] Andy Murray [4] 42. (64) (COL) Richard Gasquet [17] 7/5 6/3 7/6(3) } Richard Gasquet [17] 7/6(3) 6/3 6/2 43. Igor Kunitsyn (66) (RUS) 6/1 6/4 6/4 23. Pension Scheme (Q) 44. (188) (NED) } Igor Kunitsyn 6/3 6/4 6/2 (Q) 45. (151) (AUT) Richard Gasquet [17] All of the employees of The All England Lawn Tennis Ground plc and its subsidiaries, and their 7/5 6/4 6/4 (LL) 46. Simone Bolelli (116) (ITA) } Simone Bolelli 6/3 6/2 6/4 47. (49) (ITA) 6/3 6/4 6/4 7/6(5) 6/3 7/6(4) associated pension benefits and obligations, were transferred to theC lub on 1 October 2004, 48. Stanislas Wawrinka [14] (14) (SUI) } Stanislas Wawrinka [14] 49. Gael Monfils [9] (8) (FRA) Gael Monfils [9] 6/4 7/6(3) 6/3 and therefore no financial obligations are reported in these accounts under RSF 17. 50. (98) (GER) [4] urray } Gael Monfils [9] (LL) 51. Grega Zemlja (157) (SLO) 4/6 6/3 6/3 7/6(7) M (Q) 52. Lukas Lacko (148) (SVK) } Grega Zemlja 6/4 3/6 7/6(8) 6/4 (WC) 53. Arnaud Clement (143) (FRA) Lukasz Kubot Lukasz Kubot 6/4 6/2 3/6 5/7 6/4 Andy 6/4 6/4 6/3 (Q) 54. Lukasz Kubot (93) (POL) } Lukasz Kubot 6/3 3/6 6/3 6/3 55. Ivo Karlovic (44) (CRO) Ivo Karlovic 7/5 3/1 Ret’d 7/6(2) 6/3 6/3 56. Janko Tipsarevic [23] (29) (SRB) } 57. [30] (28) (BRA) Rainer Schuettler 7/6(3) 6/4 6/2 Feliciano Lopez 58. Rainer Schuettler (113) (GER) } Feliciano Lopez 3/6 6/7(5) 7/6(7) 7/5 7/5 59. Feliciano Lopez (44) (ESP) 7/6(3) 6/7(3) 6/2 6/2 24. Controlling Party 60. (76) (GER) } Feliciano Lopez 6/4 7/5 6/3 61. Jaroslav Pospisil (133) (CZE) Feliciano Lopez 62. Victor Hanescu (63) (ROU) Victor Hanescu 6/4 6/3 6/2 7/6(2) 7/6(2) 6/4 The beneficial ownership of The AllE ngland Lawn Tennis Ground plc rests jointly, 50% with the Club } [8] (Q) 63. (156) (GER) 6/4 7/6(6) 6/3 6/4 6/3 6/4 and 50% with the LTA. 64. Andy Roddick [8] (10) (USA) } Andy Roddick [8] 65. [7] (6) (ESP) 66. Benoit Paire (115) (FRA) David Ferrer [7] 6/4 6/4 6/4 } David Ferrer [7] 67. (37) (CRO) 6/7(6) 6/1 4/6 6/3 6/2 (LL) 68. (122) (USA) } Ryan Harrison 7/6(5) 6/0 7/5 69. (70) (ARG) David Ferrer [7] (Q) 70. (125) (SVK) } Karol Beck 4/6 7/6(6) 4/6 6/2 6/4 6/4 6/3 6/3 Karol Beck [2] Djokovic Novak 6/3 1/6 6/1 6/4 71. (45) (KAZ) 6/3 6/3 0/0 Ret’d 7/6(5) 6/4 3/6 6/4 72. Guillermo Garcia-Lopez [26] (41) (ESP) } Guillermo Garcia-Lopez [26] 73. [22] (24) (UKR) Fernando Gonzalez 6/3 6/7(6) 7/6(3) 6/4 Jo-Wilfried Tsonga [12] 25. Subsequent Events 74. Fernando Gonzalez (55) (CHI) } Fernando Gonzalez 6/3 6/4 7/6(1) (Q) 75. (147) (RSA) 6/4 6/4 6/4 On 1 August 2011, the Club’s assets, liabilities, rights and obligations (including its shares in the 76. Ruben Ramirez Hidalgo (121) (ESP) } Rik De Voest 6/2 6/3 6/2 77. (62) (BUL) Jo-Wilfried Tsonga [12] 78. Cedrik-Marcel Stebe (208) (GER) Grigor Dimitrov 7/5 7/5 7/6(5) 6/3 6/4 6/3 company) were transferred to a newly formed company The All England Lawn Tennis & Croquet (Q) } Jo-Wilfried Tsonga [12] (LL) 79. (131) (JPN) 6/3 7/6(4) 6/2 6/7(4) 6/4 6/4 7/6(8) Club Limited (“ClubCo”). Control of ClubCo rests with the same group of individuals who previously 80. Jo-Wilfried Tsonga [12] (19) (FRA) } Jo-Wilfried Tsonga [12] 81. Nicolas Almagro [16] (15) (ESP) 82. (51) (FIN) Nicolas Almagro [16] 6/7(5) 6/3 6/4 6/4 controlled the Club. ClubCo or its subsidiaries will, in effect, replace theC lub as a counterparty in } Nicolas Almagro [16] 83. (47) (USA) 7/6(3) 7/6(5) 6/7(5) 6/3 certain contractual matters. 84. (94) (FRA) } John Isner 7/6(4) 6/2 7/6(6) 85. (68) (IND) [18] 86. (101) (GER) Somdev Devvarman 6/4 4/2 Ret’d 4/6 6/3 7/6(3) 6/3 } Mikhail Youzhny [18] 87. Juan Monaco (43) (ARG) [12] Tsonga Jo-Wilfried 6/4 6/4 6/4 6/7(3) 3/6 4/6 6/2 6/2 4/6 6/4 6/2 6/4 6/4 On 1 October 2011, the LTA’s shares in the company were transferred to a newly formed company 88. Mikhail Youzhny [18] (17) (RUS) } Mikhail Youzhny [18] 89. (23) (ARG) [28] [3] 90. (135) (GER) David Nalbandian [28] 7/5 6/2 6/3 Lawn Tennis Association Limited (“LTACo”). The members of LTACo (i.e. its Counties, National and } David Nalbandian [28] 6/7(5) 6/3 6/3 6/3 91. (126) (FRA) 6/3 3/6 6/4 6/4 Island Associations and other represented bodies) are the same as members of the LTA. LTACo or its 92. Andreas Haider-Maurer (78) (AUT) } Andreas Haider-Maurer 7/6(5) 6/3 6/3 93. (55) (FRA) Roger Federer [3] (Q) 94. Conor Niland (181) (IRL) } Adrian Mannarino 4/6 6/4 7/6(7) 4/6 6/4 6/4 6/2 6/4 subsidiaries will, in effect, replace theL TA as a counterparty in certain contractual matters. Roger Federer [3] 6/3 95. (61) (KAZ) 7/6(2) 6/4 6/2 6/2 6/3 6/2 96. Roger Federer [3] (3) (SUI) } Roger Federer [3] 97. Robin Soderling [5] (5) (SWE) 98. (67) (GER) Robin Soderling [5] 6/4 6/4 2/6 7/6(5) Since 1 August 2011, the group has refunded substantially all of the £425,000 nominal value of the } Robin Soderling [5] 99. (52) (JPN) 6/7(5) 3/6 7/5 6/4 6/4  No. 1 Court debentures relating to the 2007-11 Championships. Under the terms of the debenture 100. (130) (AUS) } Lleyton Hewitt 6/1 7/6(4) 6/7(7) 6/3 101. Igor Andreev (79) (RUS) 102. Teymuraz Gabashvili (129) (RUS) } Igor Andreev 6/4 7/6(5) 6/7(4) 4/6 6/3 6/1 6/4 7/5 prospectus, the group was contractually committed to refund the nominal value of a debenture on 1 Bernard Tomic [2] Djokovic Novak 6/7(9) 6/2 7/6(4) (Q) 103. Bernard Tomic (158) (AUS) Bernard Tomic 7/5 6/3 7/5 4/6 5/7 6/3 6/4 6/1 August 2011 provided that the holder of the debenture had returned the relevant debenture certificate. 104. [29] (27) (RUS) } 105. [20] (18) (GER) Florian Mayer [20] 7/6(5) 7/6(1) 3/6 6/4 Bernard Tomic (WC) 106. Daniel Evans (301) (GBR) } 6/1 7/5 6/4 107. Xavier Malisse (42) (BEL) 1/6 6/3 6/2 6/2 108. (103) (GER) } Xavier Malisse 6/2 6/3 6/2 109. (75) (LAT) Xavier Malisse 110. (53) (RUS) Dmitry Tursunov 6/3 3/6 7/6(12) 7/6(1) } Jurgen Melzer [11] 7/6(5) 6/3 6/0 (WC) 111. (88) (COL) 3/6 7/6(5) 6/2 6/2 6/3 2/6 7/6(5) 7/6(1) 112. Jurgen Melzer [11] (11) (AUT) } Jurgen Melzer [11] 113. [13] (12) (SRB) Viktor Troicki [13] 3/6 6/0 7/6(3) 6/3 114. Maximo Gonzalez (86) (ARG) } Yen-Hsun Lu 115. Yen-Hsun Lu (57) (TPE) 7/6(5) 6/4 6/4 116. (31) (ESP) } Yen-Hsun Lu 6/4 6/4 6/1 117. Ricardo Mello (89) (BRA) Michael Llodra [19] (Q) 118. (164) (CAN) Ricardo Mello 3/6 3/6 6/4 7/6(6) 6/2 6/3 6/3 6/1 } Michael Llodra [19] [2] Djokovic Novak 7/5 6/3 3/6 6/2 (WC) 119. (192) (GBR) 6/3 7/6(4) 6/3 6/2 4/6 6/2 6/3 120. Michael Llodra [19] (35) (FRA) } Michael Llodra [19] 121. (30) (CYP) [32] [2] 122. (102) (USA) Marcos Baghdatis [32] 6/4 6/2 6/7(5) 4/6 6/4 } Marcos Baghdatis [32] 6/3 6/3 6/3 123. (38) (ITA) 6/4 7/6(4) 7/5 124. Albert Montanes (34) (ESP) } Andreas Seppi 6/4 6/4 7/5 125. (36) (RSA) Novak Djokovic [2] 126. (114) (UKR) Kevin Anderson 6/7(5) 7/6(7) 6/4 4/6 6/1 } Novak Djokovic [2] 6/4 4/6 6/3 6/4 127. Jeremy Chardy (54) (FRA) 6/4 6/1 6/1 6/3 6/4 6/2 128. Novak Djokovic [2] (2) (SRB) } Novak Djokovic [2]

Heavy type denotes seeded players. The figure in square brackets against names denotes the order in which they were seeded. The figures in round brackets denotesW TA Tour Ranking. (WC) = . (Q) = Qualifier. LL( ) = .

22 The All England Lawn Tennis Ground plc and subsidiary undertakings The All England Lawn Tennis Ground plc and subsidiary undertakings 23 THE LADIES’ SINGLES CHAMPIONSHIP 2011

CHAMPION 2010:

FIRST ROUND SECOND ROUND THIRD ROUND FOURTH ROUND QUARTER-FINALS SEMI-FINALS FINAL 1. [1] (1) (DEN) Caroline Wozniacki [1] 6/2 6/1 2. (105) (ESP) } Caroline Wozniacki [1] 3. (60) (IND) 6/1 6/3 4. (96) (FRA) } Virginie Razzano 7/6(4) 2/6 6/3 5. (79) (AUS) Caroline Wozniacki [1] Andrea Hlavackova 6/1 6/2 6. Andrea Hlavackova (99) (CZE) } Jarmila Gajdosova [27] 6/3 6/2 7. (104) (UKR) 7/5 6/3 7/6(1) 6/3 8. Jarmila Gajdosova [27] (28) (AUS) } Jarmila Gajdosova [27] 9. Dominika Cibulkova [24] (24) (SVK) Dominika Cibulkova [24] 3/6 6/3 8/6 Dominika Cibulkova [24] 10. Mirjana Lucic (91) (CRO) } Dominika Cibulkova [24] 1/6 7/6(5) 7/5 11. (59) (SLO) 6/1 6/2 12. (63) (SWE) } Polona Hercog 6/7(3) 6/3 6/4 13. (70) (FRA) Dominika Cibulkova [24] (WC) Mathilde Johansson 2/6 6/4 6/4 14. (106) (GBR) } Julia Goerges [16] 6/4 1/6 6/3 15. (43) (ESP) 6/3 6/0 7/6(10) 6/2 16. Julia Goerges [16] (16) (GER) } Julia Goerges [16] 17. [10] (10) (AUS) 6/3 6/4 18. Melinda Czink (72) (HUN) } Melinda Czink 19. (100) (BLR) 7/5 6/3 20. Arvidsson (71) (SWE) } Anastasiya Yakimova 4/6 6/2 6/1 21. (68) (GBR) Shuai Peng [20] Elena Baltacha 6/2 6/4 [5] Sharapova aria

(Q) M 6/1 6/1 22. (114) (GER) } Shuai Peng [20] 6/2 7/6(5) 23. (124) (BEL) 6/0 6/4 4/6 6/2 7/5 24. Shuai Peng [20] (20) (CHN) } Shuai Peng [20] 25. Lucie Safarova [31] (32) (CZE) Lucie Safarova [31] 2/6 6/3 6/3 [5] 26. Lucie Hradecka (41) (CZE) } Klara Zakopalova 6/4 6/2 27. Klara Zakopalova (35) (CZE) 6/0 6/7(3) 6/4 (WC) 28. Emily Webley-Smith (244) (GBR) } Klara Zakopalova 6/3 5/7 8/6 29. (77) (GER) Maria Sharapova [5] (WC) 4/6 7/6(4) 6/3 30. Laura Robson (254) (GBR) } Maria Sharapova [5] 6/2 6/3 31. (52) (RUS) 6/2 6/1 7/6(4) 6/3 32. Maria Sharapova [5] (6) (RUS) } Maria Sharapova [5] 33. Na Li [3] (4) (CHN) Na Li [3] 6/3 6/3 34. (72) (RUS) } (WC) 35. Sabine Lisicki (62) (GER) 3/6 6/4 8/6 36. (54) (LAT) } Sabine Lisicki 6/1 6/1 37. Jie Zheng (84) (CHN) Sabine Lisicki Jie Zheng 7/5 6/0 [5] Sharapova aria 38. Zuzana Ondraskova (110) (CZE) } 6/4 6/2 M 6/3 6/4 (Q) 39. Misaki Doi (133) (JPN) Misaki Doi 6/4 5/7 7/5 6/3 6/1 40. Bethanie Mattek-Sands [30] (31) (USA) } 41. [18] (18) (SRB) Ana Ivanovic [18] 6/0 6/1 Sabine Lisicki 42. (87) (USA) } Ana Ivanovic [18] 7/6(3) 6/1 43. Coco Vandeweghe (102) (USA) 6/3 6/0 (WC) 44. (121) (GRE) } Eleni Daniilidou 6/4 6/4 45. (75) (GER) Petra Cetkovska Petra Cetkovska 6/2 5/7 6/2 46. Petra Cetkovska (81) (CZE) } Petra Cetkovska 6/2 7/6(0) 47. (101) (BLR) 6/0 3/0 Ret’d 3/6 7/6(5) 6/4 48. Agnieszka Radwanska [13] (11) (POL) } Agnieszka Radwanska [13] 49. (9) (FRA) [9] isicki

Marion Bartoli [9] 6/0 6/2 L (Q) 50. Kristyna Pliskova (229) (CZE) } Marion Bartoli [9] 51. Lourdes Dominguez Lino (48) (ESP) 4/6 7/5 6/2 52. (67) (ITA) } Lourdes Dominguez Lino 6/0 6/1 abine abine S 53. (82) (RUS) Marion Bartoli [9] 6/1 6/7(4) 6/4 Evgeniya Rodina 6/3 7/5 54. (93) (RSA) } [21] 5/7 6/4 9/7 55. Irina-Camelia Begu (78) (ROU) 7/6(3) 4/6 6/2 6/4 6/2 56. Flavia Pennetta [21] (21) (ITA) } Flavia Pennetta [21] 57. [26] (27) (RUS) Maria Kirilenko [26] 6/2 6/1 Marion Bartoli [9] 58. (56) (ITA) } Maria Kirilenko [26] 6/3 7/6(6) (Q) 59. (108) (THA) 7/5 7/5 60. (123) (KAZ) } Tamarine Tanasugarn 6/2 6/3 61. (58) (ROU) Serena Williams [7] Simona Halep 6/1 6/2 62. Bojana Jovanovski (50) (SRB) } Serena Williams [7] 6/3 6/2 63. Aravane Rezai (61) (FRA) 6/3 3/6 6/1 3/6 6/2 6/1 64. Serena Williams [7] (25) (USA) } Serena Williams [7] 65. [6] (7) (ITA) 66. (45) (AUS) } Francesca Schiavone [6] 6/4 1/6 6/3

Francesca Schiavone [6] [8] vitova 67. Barbora Zahlavova Strycova (55) (CZE) 7/5 6/3 K (Q) 68. (174) (CAN) } Barbora Zahlavova Strycova 7/6(7) 6/4 69. (42) (JPN) Tamira Paszek 5/7 6/3 6/0 70. Tamira Paszek (80) (AUT) } Tamira Paszek 3/6 6/4 11/9 Petra 6/4 6/3 71. Christina McHale (73) (USA) Christina McHale 2/6 6/1 8/6 6/4 6/1 72. [28] (38) (RUS) } 73. Shahar Peer [22] (22) (ISR) 5/7 6/4 6/4 Tamira Paszek 74. Ksenia Pervak (89) (RUS) } Ksenia Pervak 6/2 2/6 6/3 75. Sorana Cirstea (86) (ROU) 6/2 1/6 6/3 76. (74) (FRA) } Pauline Parmentier 6/1 6/3 (Q) 77. (109) (USA) Ksenia Pervak Stephanie Dubois 6/2 6/2 (LL) 78. Stephanie Dubois (122) (CAN) } [11] 6/4 7/6(2) (LL) 79. Stephanie Foretz Gacon (139) (FRA) 6/3 6/4 6/3 4/6 6/3 80. Andrea Petkovic [11] (13) (GER) } Andrea Petkovic [11] 81. [14] (14) (RUS) Anastasia Pavlyuchenkova [14] 6/4 7/6(3) (Q) 82. (141) (UKR) } 83. Vesna Dolonts (95) (RUS) 6/3 6/3 84. Nadia Petrova (37) (RUS) } Nadia Petrova 6/3 6/4 85. (126) (UKR) Nadia Petrova 86. Alize Cornet (69) (FRA) } Kateryna Bondarenko 7/5 6/2 6/3 6/2

Kateryna Bondarenko [4] Azarenka Victoria 6/1 6/3 87. (34) (ITA) Sara Errani 6/1 6/4 6/4 5/7 6/2 88. [17] (17) (EST) } 89. Daniela Hantuchova [25] (23) (SVK) Daniela Hantuchova [25] 4/6 7/6(5) 6/3 [4] (Q) 90. (168) (RUS) } Daniela Hantuchova [25] 6/2 6/2 (Q) 91. Kai-Chen Chang (136) (TPE) 6/3 6/1 (Q) 92. Marina Erakovic (144) (NZL) } Marina Erakovic 6/4 6/2 93. Sandra Zahlavova (117) (CZE) Victoria Azarenka [4] Iveta Benesova 3/6 6/3 8/6 94. Iveta Benesova (53) (CZE) } Victoria Azarenka [4] 6/3 3/6 6/2 95. Magdalena Rybarikova (66) (SVK) 6/4 3/2 Ret’d 6/0 6/3 96. Victoria Azarenka [4] (5) (BLR) } Victoria Azarenka [4] 97. Petra Kvitova [8] (8) (CZE) Petra Kvitova [8] 6/2 6/2 (Q) 98. (173) (USA) } Petra Kvitova [8] [8] vitova (WC) 99. (213) (GBR) 6/2 6/1 K 100. (111) (GBR) } Anne Keothavong 6/2 6/4 101. (44) (CAN) Petra Kvitova [8] Rebecca Marino 6/3 7/6(5) Petra 6/2 3/6 6/1 102. Patricia Mayr-Achleitner (113) (AUT) } [29] 6/3 6/3 103. (51) (RUS) 7/5 6/2 7/6(3) 6/2 104. Roberta Vinci [29] (29) (ITA) } Roberta Vinci [29] 105. [19] (19) (BEL) Yanina Wickmayer [19] 7/5 6/3 Petra Kvitova [8] 106. (85) (USA) } Yanina Wickmayer [19] 6/0 6/2 107. (112) (RUS) 3/6 6/4 6/2 108. (118) (GEO) } Anna Tatishvili 3/6 6/2 6/3 109. (107) (USA) Yanina Wickmayer [19] 6/2 6/4 110. Alexandra Dulgheru (39) (ROU) } [12] 4/6 6/3 6/4 111. Shuai Zhang (83) (CHN) 3/6 6/3 6/4 6/0 6/2 112. Svetlana Kuznetsova [12] (12) (RUS) } Svetlana Kuznetsova [12] 113. Jelena Jankovic [15] (15) (SRB) 114. Maria Jose Martinez Sanchez (76) (ESP) } Maria Jose Martinez Sanchez 5/7 6/4 6/3 Maria Jose Martinez Sanchez [8] vitova 115. (46) (ROU) 6/3 6/0 K 116. (149) (AUT) } Monica Niculescu 6/1 6/1 (WC) 117. Katie O’Brien (215) (GBR) [23] Petra Petra -Krumm 6/0 7/5 6/2 6/7(5) 6/3 118. Kimiko Date-Krumm (57) (JPN) } Venus Williams [23] 6/0 6/2 119. (97) (UZB) 6/3 6/1 6/7(6) 6/3 8/6 120. Venus Williams [23] (30) (USA) } Venus Williams [23] 121. [32] (33) (BUL) Tsvetana Pironkova [32] 6/2 6/1 Tsvetana Pironkova [32] (Q) 122. (169) (ITA) } Tsvetana Pironkova [32] 6/2 6/3 123. (92) (USA) 6/1 6/4 124. Petra Martic (98) (CRO) } Petra Martic 5/7 6/2 6/2 125. (36) (RUS) Tsvetana Pironkova [32] Elena Vesnina 6/4 6/3 126. Laura Pous-Tio (90) (ESP) } [2] 6/2 6/3 127. (115) (USA) 6/0 3/6 6/3 6/1 7/6(5) 128. Vera Zvonareva [2] (3) (RUS) } Vera Zvonareva [2]

Heavy type denotes seeded players. The figure in square brackets against names denotes the order in which they were seeded. The figures in round brackets denotesW TA Tour Ranking. (WC) = Wild card. (Q) = Qualifier. LL( ) = Lucky loser.

24 The All England Lawn Tennis Ground plc and subsidiary undertakings AELTC