Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 108 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 Credit risk Credit risk consists mainly of cash deposits, cash equivalents, and receivables from exchange transactions. The entity only deposits cash with major banks with high a quality credit standing. Financial assets exposed to credit risk at year end were as follows: At 31 March 2022 Less than 1 Between 1 and 2 years Between 2 and 5 years Over 5 years Payables from exchange transactions 13 915 826 - - - Operating lease contractual amounts 4 299 593 4 570 748 5 390 434 - At 31 March 2021 Less than 1 Between 1 and 2 years Between 2 and 5 years Over 5 years Payables from exchange transactions 11 675 588 - - - Operating lease contractual amounts 4 339 527 4 643 293 7 105 971 - Financial Instrument 2022 2021 Cash and cash equivalents 57 724 100 55 757 374 Receivables from exchange transactions 4 188 003 4 474 535 Market risk Interest rate risk The entity’s interest rate risk arises from amounts held in short-term cash balances. The entity’s income and operating cash flows are substantially independent of changes in market interest rates in relation to these balances. Financial instrument Current interest rate Due in less than a year Due in one to two years Due in two to three years Due in three to four years Due after five years Receivables from exchange transactions 7.75 % 4 188 003 - - - - Cash in current banking institutions 7.75 % 57 724 100 - - - - Payables from exchange transactions 7.75 % 13 915 827 - - - - Operating lease obligation 7.75 % 4 299 593 4 570 748 5 390 434 - - 24. Risk Management (continued) Cash flow interest rate risk