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 Related parties RELATIONSHIPS Controlling entity South African Revenue Service Member of the Board of Directors M. A. Enus‑Brey: Chairman of the Board Independent Non‑Executive Director L.L. Janse van Rensburg: Financial Director (and Acting Managing Director) J.M. Robertson: Operations Director *H. Smith: Non‑Executive Director *V.C. Nthabyane: Non‑Executive Director *E. Smith: Non‑Executive Director G. Vermaas: Independent Non‑Executive Director (appointed effective 13 June 2023) Members of key management M. Pepperell: Company Secretary/Manager: Corporate Services N. Mohoto: Executive Talent S. Mtsweni: Executive: Relationship Manager D. De Kock: Executive: Tax Solutions W. Barratt: Executive: Business Development & Innovation *These Non‑Executive Directors are employed by the shareholder. Figures in rand 2024 2023 Related party balances Receivables from exchange transactions with related parties Trade receivables: SARS 30 127 051 5 744 113 The trade receivables with the shareholder represent amounts receivable for services rendered at arm’s length transactions. Payables from exchange transactions with related parties Trade payables: SARS 436 692 692 665 Revenue billed in advance (SARS) – 2 760 979 The trade payable represents amounts owing to SARS for amounts paid on our behalf for insurance and also internal audit services performed at arm’s length. Rendering of services to related parties South African Revenue Services 192 549 415 152 237 645