BRITISH TENNIS IN REVIEW ANNUAL REPORT AND ACCOUNTS 2014 02 CONTENTS 03 Introduction Finance and Governance Report Welcome 03 and financial statements Board and Executive Team 04 Review of the Year 30 Facts and Figures 07 Corporate Governance Structure 35 WELCOME Financial Overview 08 Report of the Directors 38 Auditor's Report 40 Group Profit and Loss Account 41 We're delighted to present the 2014 Annual Report Group Balance Sheet 42 Participation 2014 has been a period of change at the LTA under the On court highlights in 2014 included the Davis Cup Group Cash Flow Statement 44 leadership of our new Chief Executive Michael Downey who team reaching the quarter-finals of the World Group, whilst Clubs, Facilities, Education, Parks 10 Notes to the Financial Statements 45 joined us in January 2014. With the support of our Chairman Andy Murray made a heroic run at the end of the season Great British Tennis Weekend 12 David Gregson and President Cathie Sabin, we have tried to qualify for the ATP World Tour Finals. What an incredible Miss-Hits 13 to establish a more focused, strategic approach which has role model he continues to be. A number of players reached resulted in changes across our organisation to enable us career high rankings, including James Ward, Liam Broady Tennis Tuesdays 14 to focus on our mission to get more people playing tennis and Kyle Edmund, whilst Heather Watson got back to Cardio Tennis 15 more often. Our purpose is to enrich lives through tennis. some of her best form by re-entering the world's top 50. Jordanne Whiley sealed the calendar Grand Slam in British Tennis Youth Group 16 We've welcomed a new Executive team who are working wheelchair doubles whilst Wimbledon and the ATP World Coaches 17 hard behind the scenes to really drive growth through Tour Finals remained two highlights of the calendar. We were Regional Restructure 18 the development of a new strategic plan. One of the reminded once again just how lucky we are to have these major appointments was Bob Brett, our Director of Player events in this country. We wish all our players the very best Development, who has already started to implement the next season, but we should also take a moment to remember cultural changes that will without doubt hugely benefit high our friend Elena Baltacha – one of the bravest people both performance players and coaches. We've also established on and off court and our thoughts and prayers continue Performance a set of values: integrity, passion, excellence and team to be with her family and friends. work that will underpin everything that we do and how High Performance 20 we do it moving forward. Finally, as we move forward into 2015 and beyond, we look forward to embedding our new long term strategy and We refer to the urgency of having to deliver better results strengthening our major events, starting with our Davis Cup as our 'burning platform'. Sport England gave us a burning home tie in March against the USA, followed by the new platform in 2014 and we are a better organisation because three week grass court window between Roland Garros Promotion of it. We need to work diligently to deliver sustainable and Wimbledon. There is an awful lot to look forward to, results, without compromising the quality of what we but we are only too aware that there is much to do. We relish Major Events 22 and our partners do. To do this, we've made huge strides the challenges ahead, and look forward to successfully Digital and Web 24 in attempting to understand places to play, players and delivering on our mission to get more people playing tennis coaches better. We know a lot more today through research more often with the help of our partners. based consumer insight. That said, we know we can't do everything ourselves, which is why it's vital that we continue to work with our partners to grow the great game of tennis. Looking Ahead 26 Elena Baltacha A Friend Remembered 28 Cathie Sabin David Gregson Michael Downey President Independent Chairman Chief Executive 04 BOARD AND EXECUTIVE TEAM 05 Chelsea Warr David Rawlinson Independent Non-Executive Director Independent Non-Executive Director Chelsea has 18 years’ experience as a leader in high performance David joined the LTA Council in 2006 representing Bedfordshire LTA sport with specialist expertise in talent identification and performance where he has served as Treasurer, Sponsorship Co-ordinator, Men’s development. Beginning her career with the Australian Institute of Captain and Lead Volunteer. David is President of Riverside LTC in Sport, Chelsea moved to British sport in 2002 when she became British Bedford. At the LTA he has served on the Funding, Investment and BOARD AND Swimming’s World Class and Potential Director. In 2005 Chelsea joined Tennis Performance Committees and has chaired the Selectors of UK Sport’s performance programme where she worked directly with Seniors Tennis Great Britain. He is an active player and competes in Performance Directors and Head Coaches of various sports to identify National and International Seniors’ tournaments. He has represented EXECUTIVE TEAM areas of underperformance. In 2009 she was appointed Head of Athlete Bedfordshire at County level in the Men’s and Seniors’ teams and has Development ahead of the London Olympic Games and in 2013 played for England in the Four Nations Seniors’ competition. David is Chelsea became the Deputy Director of Performance at UK Sport. a practising Chartered Accountant, a Director of an Educational Charity and a Rotarian. Meet the members of the LTA Board, who bring expertise and experience Bob Battersby to the organisation from a wide range of backgrounds. Nicola Maskens Independent Non-Executive Director Independent Non-Executive Director David Gregson Martin Corrie Bob joined the LTA Council in 2003 representing Hampshire & Isle Chairman of the Board Deputy President of Wight. He is a past Chairman of the County Association and is at Nicola joined the LTA Council in 2008 representing Oxfordshire. She is present Deputy Chairman and sits on the County Executive Committee. currently the Chairman of the County Association having in the past At the LTA he has served on the Audit Committee, the Councillor Liaison been Chairman of the Junior County Closed and undertaking various David was appointed Chairman of the LTA Board on 12 December 2012. Martin joined the LTA Council representing Hertfordshire in 2003, where Committee and Operations Board and he was Chairman of the Risk roles on the Management Committee. At the LTA Nicola serves on the David is also Chairman of CRI, a leading national social care charity; he has been a member since 1993 and Treasurer since 2000. In 2002 Advisory Group. He served on the Tennis Development Committee as Licensing & Registration Committee and the Tennis Development a Director of the London Legacy Development Corporation, which he was appointed Chairman of the County Tennis Committee responsible Deputy Chair and was appointed Chair for 2013. Bob has been on the Committee. She was appointed to the LTA Board in September 2014 is transforming the Queen Elizabeth Olympic Park after the London for Talent Identification and Performance Tennis. Martin served on the Board since 2011 and was appointed as the LTA Board representative on for the three year period from 2015-2018. Nicola has been involved 2012 Games; and a member of the Advisory Boards of both The Sutton LTA Funding Committee before joining the Professional Tennis Advisory the LTA Trust Board in 2014. He has played County tennis throughout in tennis throughout her life, as a Junior, as a tennis parent, as a Club Trust and the Education Endowment Foundation. David was previously and Scrutiny Board of which he was appointed Chairman in 2009. his life and continues to be active in seniors’ tennis. Bob is a Chartered member, Club Membership Secretary, Team Captain and an active Chairman and co-founder of Phoenix Equity Partners, a leading UK He was Chairman of the Tennis Performance Committee until the end Engineer by profession and has worked in the petrochemical industry player in the local summer and winter leagues. Nicola has worked in mid-market private equity company and has been Chairman, a director of 2012 and was elected a Council-Elected Board member in 2013. throughout his working life, most recently as Managing Director of Polimeri Marketing throughout her career and is currently specialising in the or trustee of nearly thirty companies and charities. He was elected Deputy President at the LTA AGM in December 2013 Europa UK, a subsidiary of ENI, the Italian oil and gas multinational. field of shopper behaviour working in the Retail and Leisure industries. and is also chair of the Audit Committee. Martin, who remains an active tennis player representing Hertfordshire in the appropriate veterans’ age groups, is currently senior partner in Hicks & Co chartered accountants and chairman of I-Financial Services Group Plc. Cathie Sabin Richard Walmsley Michael Downey President Independent Non-Executive Director Chief Executive Cathie is a former Assistant Head of a Specialist Sports College and Richard Baker Richard joined the Board in 2013 having been an LTA Councillor since Michael Downey joined the LTA in January 2014 after nine successful was one of the original members of the Education and Young People Independent Non-Executive Director 2001, initially representing Sussex where he was formerly Men’s County years as President and Chief Executive Officer of Tennis Canada, during Committee at the LTA. She has an interest in all sports playing netball, Captain, and still sits on the County Executive. Richard is a business which time the sport has enjoyed significant growth, both at grassroots cricket, hockey, lacrosse and tennis and continues to play tennis for graduate who reached national management roles with leading financial and at the elite level.