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 Directors’ emoluments (continued) Non‑executive 2024 Members’ fees Committees fees Subsistence and travel Total M.A. Enus‑Brey 11 778 2 004 1 346 15 128 G. Vermaas 8 768 2 692 1 002 12 462 20 546 4 696 2 348 27 590 2023 Members’ fees Committees fees Subsistence and travel Total M.A. Enus‑Brey 17 498 1 010 - 18 508 S.W. van Graan 11 796 752 - 12 548 29 294 1 762 – 31 056 No fees or remuneration are payable to the non‑executive directors who are also employees of the shareholder. Risk management Financial risk management The entity’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk, cash flow interest rate risk and price risk), credit risk and liquidity risk. Risk management is carried out by the Board. The Board provides written policies for overall risk management, as well as a review covering specific areas. Liquidity risk The entity’s risk to liquidity is a result of the funds available to cover future commitments. The entity manages liquidity risk through an ongoing review of future commitments. The table below analyses the entity’s financial liabilities into relevant maturity groupings based on the remaining period at the statement of financial position date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant. At 31 March 2024 Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 years Payables from exchange transactions 12 397 509 – – – Operating lease contractual amounts 2 930 969 1 725 818 733 647 – At 31 March 2023 Less than 1 year Between 1 and 2 years Between 2 and 5 years Over 5 years Payables from exchange transactions 16 663 770 – – – Operating lease contractual amounts 4 570 748 2 930 969 2 459 465 – Credit risk Credit risk consists mainly of cash deposits, cash equivalents, and receivables from exchange transactions. The entity only deposits cash with major banks with high‑quality credit standing.