Interfront Annual Report 2022

PART E: FINANCIAL INFORMATION 99 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2022 9. VAT Payable VAT payable VAT payable 942 198 819 392 10. Provisions Reconciliation of provisions - March 2022 Opening Balance Additions Utilised during the year Reversed during the year Total Performance bonus 3 679 735 3 812 855 (3 577 298) (102 437) 3 812 855 Reconciliation of provisions - March 2021 Opening Balance Additions Utilised during the year Reversed during the year Total Performance bonus 4 275 945 3 679 735 (3 653 695) (622 250) 3 679 735 Performance bonuses represent the estimated obligation for the current year. 11. Operating Lease Operating lease Non-Current Liabilities (831 409) (769 439) Current Liabilities (67 018) - (898 427) (769 439) 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 expiry date of 31 August 2024. During the year an addendum was signed to extend the initial period of the lease over the St Andrew’s offices by a further 2 years, with more favourable rental escalations. The office leases contain an option to extend the leases after the initial period by a further 5 years. Figures in Rand 2022 2021