| |
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.
| |
|
2024
R’000 |
|
2023
R’000 |
| At 31 May |
|
118 510 |
|
87 434 |
| Amounts included in non-current portion of deferred revenue |
|
— |
|
— |
| Amounts included in current portion of deferred revenue |
|
118 510 |
|
87 434 |
| At 31 May - by category |
|
118 510 |
|
87 434 |
| Ringas |
|
77 249 |
|
84 510 |
| Other |
|
41 261 |
|
2 924 |
| Ringas1 |
|
|
|
|
| Opening balance |
|
84 510 |
|
101 843 |
| Amounts paid to network providers and commission revenue recognised in the current year relating to unredeemed Ringas voucher sales in prior years |
|
(55 946) |
|
(84 208) |
| Gross sales of unredeemed Ringas vouchers in the current year |
|
48 685 |
|
66 875 |
| Closing balance |
|
77 249 |
|
84 510 |
| Other |
|
|
|
|
| Opening balance |
|
2 924 |
|
11 484 |
| Revenue recognised during the year relating to prior years |
|
(16 375) |
|
(10 367) |
| Additions |
|
54 712 |
|
1 807 |
| Closing balance |
|
41 261 |
|
2 924 |
| 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. |
|
