Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 83 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 STATEMENT OF FINANCIAL PERFORMANCE Figures in Rand Note(s) 2022 2021 Restated* Revenue Revenue from exchange transactions Rendering of services 16 108 405 948 105 363 506 Profit/(Loss) from exchange transactions and other sundry income 16 (374 529) (531 699) Interest received - investment 16 1 786 154 1 982 549 Gain on disposal of assets and liabilities 16 085 - Total revenue from exchange transactions 109 833 658 106 814 356 Expenditure Employee costs (90 340 312) (90 014 801) External development services (5 929 827) (6 227 045) Depreciation and amortisation (9 139 066) (10 334 583) Loss on disposal of assets and liabilities - (26 125) Administrative expenses (11 817 614) (10 696 845) Auditor's remuneration (642 240) (866 682) Total expenditure (117 869 059) (118 166 081) Deficit before taxation (8 035 401) (11 351 725) Taxation 18 (1 651 435) (2 581 997) Deficit for the year (6 383 966) (8 769 728)