Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 84 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 STATEMENT OF CHANGES IN NET ASSETS Figures in Rand Share capital Shareholder’s loan - Equity Accumulated surplus / deficit Total net assets Balance at 01 April 2020 1 12 595 853 75 882 045 88 477 899 Changes in Net Assets Prior year adjustment - - (3 123 181) (3 123 181) Previously reported deficit - - (5 646 546) (5 646 546) Payment of Shareholder’s loan - (12 595 853) - (12 595 853) Total changes (12 595 853) (8 769 727) (21 365 580) Restated* Balance at 01 April 2021 1 - 67 112 318 67 112 319 Changes in Net Assets Surplus for the year - - (6 383 967) (6 383 967) Total changes - - (6 383 967) (6 383 967) Balance at 31 March 2022 1 - 60 728 351 60 728 352 Note(s) 14 15