Interfront 2023 Annual Report

International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2023 125 FINANCIAL INFORMATION PART Notes to the Financial Statements  Directors’ emoluments (continued) Non‑executive 2023 Member’s fees Committee fees Total M.A. Enus‑Brey 17 498 1 010 18 508 S.W. van Graan 11 796 752 12 548 29 294 1 762 31 056 2022 Members’ fees Committee fees Total M.A. Enus‑Brey 21 909 6 018 27 927 S.W. van Graan 8 019 2 916 10 935 29 928 8 934 38 862 No fees or remuneration are payable to the non‑executive directors who are also employees of the shareholder.  Risk management Financial risk management The entity’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. Risk management is carried out by the Board. The Board provides written policies for overall risk management, as well as a review covering specific areas. Liquidity risk The entity’s risk to liquidity is a result of the funds available to cover future commitments. The entity manages liquidity risk through an ongoing review of future commitments. The table below analyses the entity’s financial and other liabilities into relevant maturity groupings based on the remaining period at the statement of financial position date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant. At 31 March 2023 Less than a year Between one and two years Between two and five years Over five years Payables from exchange transactions 16 663 770 – – – Operating lease contractual amounts 4 570 748 2 930 969 2 459 465 – At 31 March 2022 Less than a year Between one and two years Between two and five years Over five years Payables from exchange transactions 13 915 826 – – – Operating lease contractual amounts 4 299 593 4 570 748 5 390 434 – Credit risk Credit risk consists mainly of cash deposits, cash equivalents, and receivables from exchange transactions. The entity only deposits cash with major banks with a high‑quality credit standing.