Interfront 2023 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2023 122 INTERFRONT ANNUAL REPORT 2023 Notes to the Financial Statements Figures in Rand 2023 2022  Cash (used in) generated from operations Deficit (9 793 627) (6 383 966) Adjustments for: Depreciation and amortisation 10 392 421 9 139 066 Gain (loss) on sale of assets and liabilities 3 461 (16 085) Movements in operating lease assets and accruals (67 018) 128 988 Movements in provisions 7 285 440 133 120 Movement in tax receivable and payable (740 394) 367 705 Annual charge for deferred tax (3 475 541) (2 227 945) Changes in working capital: Receivables from exchange transactions (7 106 632) 286 532 Payables from exchange transactions 2 747 947 2 240 244 VAT 591 032 122 806 (162 911) 3 790 465  Commitments Authorised operational expenditure Already contracted for but not provided for •  IT goods and services 2 860 785 1 767 417 •  Other services 112 487 34 280 •  HR Services 6 060 11 046 2 979 332 1 812 743 Total operational commitments Already contracted for but not provided for 2 979 332 1 812 743 This committed expenditure relates to IT and office services and will be financed by: retained surpluses, existing cash resources, funds internally generated, and so forth. Operating leases – as lessee (expense) Minimum lease payments due •  within one year 4 570 748 4 299 593 •  in the second to the fifth year inclusive 5 390 434 9 961 183 9 961 182 14 260 776 Operating lease payments represent rentals payable by the entity for certain of its office properties. Refer to Note 10 for more detail.