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 Cash used in operations Surplus/(deficit) 4 078 142 (9 793 627) Adjustments for: Depreciation and amortisation 4 549 003 10 392 421 (Gain)/loss on sale of assets and liabilities 319 231 3 461 Movements in operating lease assets and accruals (302 805) (67 018) Movements in provisions 3 714 344 7 285 440 Movement in tax receivable and payable 547 648 (740 394) Annual charge for deferred tax (18 203) (3 475 541) Changes in working capital: Receivables from exchange transactions (30 089 585) (7 106 632) Payables from exchange transactions (4 266 266) 2 747 947 VAT 3 082 348 591 032 (18 386 143) (162 911) Commitments Authorised operational expenditure Already contracted for but not provided for •  IT goods and services 99 585 2 860 785 •  Other services 42 609 112 487 •  HR Services 201 735 6 060 343 929 2 979 332 Total operational commitments Already contracted for but not provided for 343 929 2 979 332 This committed expenditure relates to IT and office services and will be financed by: retained surpluses, existing cash resources, funds internally generated, and so forth. Operating leases – as lessee (expense) Minimum lease payments due •  within one year 2 930 969 4 570 748 •  in second to fifth year inclusive 2 459 465 5 390 434 5 390 434 9 961 182 Operating lease payments represent rentals payable by the entity for certain of its office properties. Refer to Note 10 for more detail.