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 Intangible assets 2024 2023 Cost/ Valuation Accumulated amortisation and accumulated impairment Carrying value Cost/ Valuation Accumulated amortisation and accumulated impairment Carrying value Intellectual property and other rights 73 582 623 (72 387 329) 1 195 294 73 582 623 (70 793 605) 2 789 018 IT software 5 242 716 (4 865 730) 376 986 8 679 891 (7 757 611) 922 280 Total 78 825 339 (77 253 059) 1 572 280 82 262 514 (78 551 216) 3 711 298 Reconciliation of intangible assets – March 2024 Opening balance Additions Disposals Amortisation Total Intellectual property and other rights 2 789 018 – – (1 593 724) 1 195 294 IT software 922 280 50 907 (4 948) (591 253) 376 986 3 711 298 50 907 (4 948) (2 184 977) 1 572 280 Reconciliation of intangible assets – March 2023 Opening balance Additions Disposals Amortisation Total Intellectual property and other rights 10 147 281 – – (7 358 263) 2 789 018 IT software 1 401 536 287 475 – (766 731) 922 280 11 548 817 287 475 – (8 124 994) 3 711 298 Impairment As per GRAP26, management assessed whether there was any indication that the intangible assets were impaired. None was identified. Other information Useful life Change in the estimated useful life of Intellectual property and other rights has affected amortisation for the year. Refer to note 27 for more detail.