Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 104 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 20. Cash Generated from Operations Deficit (6 383 967) (8 769 728) Adjustments for: Depreciation and amortisation 11 499 692 10 334 583 Gain/(Loss) on disposal of assets (16 085) 26 125 Movements in operating lease assets and liabilities 128 988 313 498 Movements in provisions 133 120 (596 210) Movement in tax receivable and payable 367 705 614 381 Deferred revenue movement (2 227 945) (2 225 020) Change in useful life estimate (2 360 625) - Operating deficit for the year is stated after accounting for the following: Trade and other receivables 286 532 24 617 697 Trade and other payables 2 240 244 5 360 449 VAT movement 122 806 (2 244 717) 3 790 465 27 431 058 21.Commitments Authorised operational expenditure Already contracted for but not provided for IT goods and services 1 767 417 85 639 Office services 34 280 35 226 HR services 11 046 8 858 1 812 743 129 723 Total operational commitments Already contracted for but not provided for 1 812 743 129 723 This committed expenditure relates to IT and office services and will be financed by: retained surpluses existing cash resources funds internally generated and so forth. Operating leases - as lessee (expense) Minimum lease payments due - Within one year 4 299 593 4 339 527 - In the second to fifth year inclusive 9 961 183 11 749 264 14 260 776 16 088 791 Operating lease payments represent rentals payable by the entity for certain of its office properties. Refer to Note 11 for more detail. Figures in Rand 2022 2021