Interfront 2024 Annual Report

A B C D FINANCIAL INFORMATION International Frontier Technologies SOC Ltd Trading as Interfront Financial Statements for the year ended 31 March 2024 NOTES TO THE FINANCIAL STATEMENTS Property, plant and equipment 2024 2023 Cost/ Valuation Accumulated depreciation and accumulated impairment Carrying value Cost/ Valuation Accumulated depreciation and accumulated impairment Carrying value Leasehold improvements 6 061 584 (5 128 372) 933 212 6 043 032 (4 884 637) 1 158 395 Furniture and fixtures 1 820 690 (1 168 463) 652 227 1 853 879 (1 107 210) 746 669 IT equipment 21 223 804 (11 910 173) 9 313 631 23 242 421 (15 549 207) 7 693 214 Security equipment 20 108 (15 802) 4 306 20 108 (18 213) 1 895 Total 29 126 186 (18 222 810) 10 903 376 31 159 440 (21 559 267) 9 600 173 Reconciliation of property, plant and equipment – March 2024 Opening balance Additions Disposals Depreciation Total Leasehold improvements 1 158 395 18 553 – (243 736) 933 212 Furniture and fixtures 746 669 – (1 929) (92 513) 652 227 IT equipment 7 693 214 3 992 089 (341 485) (2 030 187) 9 313 631 Security Equipment 1 895 – – 2 411 4 306 9 600 173 4 010 642 (343 414) (2 364 025) 10 903 376 Reconciliation of property, plant and equipment – March 2023 Opening balance Additions Disposals Depreciation Total Leasehold improvements 1 240 414 79 829 – (161 848) 1 158 395 Furniture and fixtures 909 546 2 234 – (165 111) 746 669 IT equipment 4 604 339 5 032 723 (3 461) (1 940 387) 7 693 214 Security Equipment 1 977 – – (82) 1 895 6 756 276 5 114 786 (3 461) (2 267 428) 9 600 173 Fully depreciated assets still in use amounts to R344 353. These are planned to be systematically disposed of and replaced over the next 12 months. Other information Expenditure incurred to repair and maintain property, plant and equipment Expenditure incurred to repair and maintain property, plant and equipment included in the Statement of Financial Performance Repairs and maintenance 652 296 462 106 Impairment As per GRAP 26, management assessed whether there was any indication that the tangible assets were impaired. None were identified.