Interfront 2025 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2025 152 INTERFRONT ANNUAL REPORT 2025 Notes to the Financial Statements Figures in Rand 2025 2024 10 Operating lease liability Non‑current liabilities 90 283 276 578 Current liabilities 186 295 252 026 276 578 528 604 Operating leases represent rentals payable by the entity for its office premises. The office leases were for an initial period of 5 years with an annual rental escalation of 7%, and an expiry date of 31 August 2024. Subsequently an addendum was signed to extend the initial period of the lease over the St Andrews offices by a further 2 years with a more favourable 5% rental escalation. The office lease contains an option to extend the leases after the initial period by a further 5 years. 11 Payables from exchange transactions Trade payables 1 771 952 1 286 811 Accrued leave pay 6 935 883 6 374 947 PAYE payable 4 315 814 3 595 069 Other accruals 561 697 1 140 683 13 585 346 12 397 510 Payables are carried at invoice amounts, which approximates fair value due to their short‑term nature. 12 VAT payable VAT payable 4 364 862 4 615 578 13 Provisions Reconciliation of provisions – March 2025 Opening balance Additions Utilised during the year Reversed during the year Total Performance bonus 14 812 639 17 445 532 (14 592 290) (220 349) 17 445 532 Reconciliation of provisions – March 2024 Opening balance Additions Utilised during the year Reversed during the year Total Performance bonus 11 098 295 14 812 639 (11 142 147) 43 852 14 812 639 Performance bonuses represent the estimated obligation for the current year.