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 VAT payable VAT payable 4 615 578 1 533 230 Provisions Reconciliation of provisions – March 2024 Opening balance Additions Utilised during the year Reversed during the year Total Performance bonus 11 098 295 14 812 639 (11 142 147) 43 852 14 812 639 Reconciliation of provisions – March 2023 Opening balance Additions Utilised during the year Reversed during the year Total Performance bonus 3 812 855 11 098 295 (5 302 926) 1 490 071 11 098 295 Performance bonuses represent the estimated obligation for the current year. Share capital Authorised 1000 Ordinary shares of R1 each 1 000 1 000 Reconciliation of number of shares issued: Reported as at 01 April 2023 1 1 999 unissued ordinary shares are under the control of the Board in terms of the Memorandum of Incorporation. Issued Ordinary 1 1 Share capital is fully paid and has no restrictions.