Interfront 2024 Annual Report

INTERFRONT ANNUAL REPORT 2024 International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS Figures in rand 2024 2023 Income tax paid Balance at the beginning of the year 739 279 (1 115) Current tax for the year recognised in surplus or deficit (1 745 261) (680 271) Balance at the end of the year (191 631) (739 279) (1 197 613) (1 420 665) Receivables from exchange transactions Trade debtors 32 436 660 5 135 091 Prepayments and other sundry receivables 8 932 201 6 144 185 Deposits 15 359 15 359 41 384 220 11 294 635 Fair value of trade and other receivables Trade and other receivables 41 384 220 11 294 635 Trade and other receivables past due but not impaired Trade and other receivables which are less than 3 months past due are not considered to be impaired. At 31 March 2024, there was R3 355 704 past due but not impaired (2023: zero were past due but not impaired). The ageing of amounts past due but not impaired is as follows: 1 month past due 3 355 704 – Cash and cash equivalents Cash and cash equivalents consist of: Cash on hand 3 346 1 569 Bank balances 5 548 587 42 614 211 Short‑term deposits 24 188 435 9 543 145 29 740 368 52 158 925