Interfront 2023 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2023 116 INTERFRONT ANNUAL REPORT 2023 Notes to the Financial Statements  Cash and cash equivalents Cash and cash equivalents consist of: Figures in Rand 2023 2022 Cash on hand 1 569 3 180 Bank balances 42 614 211 48 781 125 Short‑term deposits 9 543 145 8 939 795 52 158 925 57 724 100  Property, plant and equipment 2023 2022 Cost/ Valuation Accumulated depreciation and accumulated impairment Carrying value Cost/ Valuation Accumulated depreciation and accumulated impairment Carrying value Leasehold improvements 6 043 032 (4 884 637) 1 158 395 6 021 451 (4 781 037) 1 240 414 Furniture and fixtures 1 853 879 (1 107 210) 746 669 1 851 645 (942 099) 909 546 Office equipment – leased – – – 109 788 (109 788) – IT equipment 23 242 421 (15 549 207) 7 693 214 18 278 916 (13 674 577) 4 604 339 Security equipment 20 108 (18 213) 1 895 20 108 (18 131) 1 977 Total 31 159 440 (21 559 267) 9 600 173 26 281 908 (19 525 632) 6 756 276 Reconciliation of property, plant and equipment – March 2023 Opening balance Additions Disposals Depreciation Total Leasehold improvements 1 240 414 79 829 – (161 848) 1 158 395 Furniture and fixtures 909 546 2 234 – (165 111) 746 669 IT equipment 4 604 339 5 032 723 (3 461) (1 940 387) 7 693 214 Security equipment 1 977 – – (82) 1 895 6 756 276 5 114 786 (3 461) (2 267 428) 9 600 173 Reconciliation of property, plant and equipment – March 2022 Opening balance Additions Disposals Depreciation Total Leasehold improvements 1 293 742 – – (53 326) 1 240 416 Furniture and fixtures 803 274 140 588 (3 063) (31 253) 909 546 IT equipment 3 696 270 1 713 584 (1 110) (804 405) 4 604 339 Generators 10 177 – (10 177) – – Security equipment 1 005 – – 972 1 977 5 804 468 1 854 172 (14 350) (888 012) 6 756 278 Change in the estimated useful life of certain assets has affected the depreciation for the year. Refer to note 27 for more detail.