4. NON-FINANCIAL INSTRUMENTS
4.6 Deferred revenue
 

Deferred revenue represents a prepayment by customers for goods or services that are yet to be delivered.

Deferred revenue is recognised as earned revenue as the good or service is delivered to the customer which is expected to occur within the next reporting period and therefore is disclosed as current.

  2023
R’000
2022
R’000
At 31 May 2023 – current/non-current split 87 434 113 367
Amounts included in non-current portion of deferred revenue
Amounts included in current portion of deferred revenue 87 434 113 367
At 31 May 2023 – by category 87 434 113 367
Ringas 84 510 101 842
Other 2 924 11 525
Ringas1    
Opening balance 101 843 59 488
Amounts paid to network providers and commission revenue recognised in the current year relating to unredeemed Ringas voucher sales in prior years (84 208) (48 409)
Gross sales of unredeemed Ringas vouchers in the current year 66 875 90 763
Closing balance 84 510 101 842
Other    
Opening balance 11 484 18 243
Revenue recognised during the year relating to prior years (10 367) (17 971)
Additions 1 807 11 253
Closing balance 2 924 11 525
1 Ringas vouchers are PINless vouchers and are therefore recognised as agent. Ringas vouchers are universal, single use, prepaid airtime vouchers that allow you to top-up your number with any of the four major South African mobile networks. The balance of the vouchers becomes payable to the network providers with a portion being recognised as commission revenue once the Ringas vouchers are redeemed.