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 Taxation (continued) Tax effect of adjustments on taxable income Originating temporary differences 18 203 3 475 541 Non‑deductible expenses 152 853 599 738 Prior year adjustment 6 801 3 994 1 745 261 680 271 Employee benefit obligations Defined contribution plans It is the policy of the entity to provide retirement benefits to all its employees. Entitlement to retirement benefits is governed by the rules of the Allan Gray Retirement Annuity Fund, which is a defined contribution retirement annuity fund. The entity has no legal or constructive obligation to pay for future benefits. The responsibility vests with the Allan Gray Retirement Annuity Fund. The entity is under no obligation to cover any unfunded benefits. The total economic entity contribution to such schemes 10 405 314 8 333 385 Operating surplus/(deficit) Operating surplus/(deficit) for the year is stated after accounting for the following: Gain or (Loss) on disposal of assets (319 231) (3 461) Amortisation on intangible assets 2 184 978 8 124 993 Depreciation on property, plant and equipment 2 364 025 2 267 428