Interfront 2023 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2023 119 FINANCIAL INFORMATION PART Notes to the Financial Statements Figures in Rand 2023 2022  VAT payable VAT payable 1 533 230 942 198  Provisions Reconciliation of provisions – March 2023 Opening Balance Additions Utilised during the year Adjustments during the year Total Performance bonus 3 812 855 11 098 295 (5 302 926) 1 490 071 11 098 295 Reconciliation of provisions – March 2022 Opening Balance Additions Utilised during the year Adjustments during the year Total Performance bonus 3 679 735 3 812 855 (3 577 298) (102 437) 3 812 855 Performance bonuses represent the estimated obligation for the current year.  Share capital Authorised 1 000 ordinary shares of R1 each 1 000 1 000 Reconciliation of number of shares issued: Reported as at 01 April 2022 1 1 999 unissued ordinary shares are under the control of the Board in terms of the Memorandum of Incorporation. Issued Ordinary 1 1 Share capital is fully paid and has no restrictions.