Interfront 2023 Annual Report

83 FINANCIAL INFORMATION PART Subsequent Events The Board is not aware of any matter or circumstance arising since the end of the financial year that has materially impacted the state of affairs as at year-end. Accounting Policies The Annual Financial Statements are prepared in accordance with the effective standards of GRAP, as issued by the Accounting Standards Board and prescribed by the framework developed by the National Treasury. More detail on the accounting policies can be found on page 101 of the Annual Financial Statements. Share Capital There were no changes in the authorised or issued share capital of the entity during the year under review. Interfront was capitalised by way of an interest-free Shareholder’s loan. The loan has been fully repaid. Distributions to Owners No dividends were declared or paid during the year under review. Board Details of the Board members can be found under  Part C: Governance  Secretary The Company Secretary for the term was Ms Madelein Pepperell. Corporate Governance General The Board is committed to business integrity, transparency and professionalism in all its activities. As part of this commitment, the Board supports the highest standards of corporate governance and the ongoing development of best practices. Interfront complies with the statutory duties and responsibilities set out in the Companies Act and the PFMA. The entity confirms and acknowledges its responsibility for compliance with the Code of Corporate Practices and Conduct (“the Code”) laid out in the King IV Report on Corporate Governance for South Africa, 2016. The salient features of the entity’s adoption of the Code can be found in  Part C: Governance  of this report.