Interfront 2023 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2023 100 INTERFRONT ANNUAL REPORT 2023 Cash Flow Statement AS AT 31 MARCH 2023 Figures in rand Note(s) 2023 2022 Cash flows from operating activities Receipts Rendering of services 164 683 854 108 692 480 Interest income 2 651 599 1 786 154 Prepaid amounts (3 088 200) 3 043 649 Gain/(loss) on exchange rate differences 390 030 (374 529) 164 637 283 113 147 754 Payments Employee costs (155 109 496) (96 270 139) Suppliers (16 146 505) (13 134 273) Taxes on surpluses 4 (1 420 665) (208 805) Movement in provisions 7 285 440 133 122 Movement in VAT 591 032 122 806 (164 800 194) (109 357 289) Net cash flows from operating activities 20 (162 911) 3 790 465 Cash flows from investing activities Purchase of property, plant and equipment 7 (5 114 786) (1 854 172) Proceeds from sale of property, plant and equipment 7 – 30 435 Purchase of other intangible assets 8 (287 475) – Net cash flows from investing activities (5 402 261) (1 823 737) Net increase/(decrease) in cash and cash equivalents (5 565 172) 1 966 728 Cash and cash equivalents at the beginning of the year 57 724 100 55 757 374 Cash and cash equivalents at the end of the year 6 52 158 928 57 724 102