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 Figures in rand 2024 2023 Revenue from exchange transactions Rendering of services: SARS 192 549 415 152 237 645 Rendering of services: Luxembourg 19 360 309 15 897 998 Rendering of services: Other 3 918 407 3 654 842 Profit/(Loss) from exchange transactions 118 732 390 030 Interest received 3 380 272 2 651 599 219 327 135 174 832 114 The amount included in revenue arising from exchanges of goods or services are as follows: Rendering of services 215 828 131 171 790 485 Profit/(Loss) from exchange transactions 118 732 390 030 Interest received 3 380 272 2 651 599 219 327 135 174 832 114 Auditors’ remuneration External Audit: Fees 805 391 643 762 Internal Audit: Fees 247 010 661 770 Subsistence and Travel: Internal Audit – 30 895 Subsistence and Travel: External Audit 98 189 75 148 1 150 590 1 411 575 Taxation Major components of the tax (income)/expense Current Local income tax – current period 1 738 460 676 277 Local income tax – recognised in current tax for prior periods 6 801 3 994 1 745 261 680 271 Deferred Deferred tax movement current year (18 203) (3 475 541) 1 727 058 (2 795 270) Reconciliation of the tax expense Reconciliation between accounting surplus and tax expense. Accounting surplus/(deficit) 5 805 200 (12 588 897) Tax at the applicable tax rate of 27% (2023: 27%) 1 567 404 (3 399 002)