Notes to the summary financial statements for the year ended 31 March 2023 1. Basis of preparation The summary consolidated and separate nancial statements are prepared in accordance with the requirements of the South African Companies Act No 71 of 2008, as amended (the Act) applicable to summary nancial statements. The summary nancial statements were prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting Standards (IFRS) and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 Interim Financial Reporting. The accounting policies applied in the preparation of the consolidated and separate annual nancial statements from which the summary consolidated and separate nancial statements were derived, are in terms of IFRS and are consistent with those accounting policies applied in the preparation of the previous consolidated and separate annual nancial statements and the prior year summary consolidated and separate annual nancial statements. A copy of the full audited consolidated annual nancial statements is available for inspection from the company secretary at the registered of ce of the group or can be downloaded from the group’s website: https://www.multichoice.com/multichoice-south-africa/reports-and- nancial-information The summary consolidated and separate annual nancial statements are presented on the going concern basis. The summary consolidated and separate annual nancial statements are presented in South African Rands (ZAR), which is the group’s presentation currency, rounded to the nearest million, unless otherwise stated. The company and group have adopted all new and amended accounting pronouncements issued by the IASB that are effective for nancial years commencing 1 April 2022. None of the new or amended accounting pronouncements that are effective for the nancial year commencing 1 April 2022 had a material impact on the company and group. 2. Revenue 2023 ZAR’000 2022 Represented* ZAR’000 Subscription fees 27 385 28 483 Advertising 3 266 3 258 Decoders 994 1 069 Installation fees 284 321 Programming and sub-licensing 5 874 6 532 Management fee income 1 977 1 686 Insurance premiums(1) 717 587 Other revenue(2) 1 152 1 044 41 649 42 980 * Comparative gures previously reported have been amended to re ect continuing operations prevailing for the year ended 31 March 2022. (1) FY22 numbers have been represented to disclose this line separately to improve disclosure. The increase relates primarily to the introduction of new insurance products into the market during FY23. (2) Other revenue primarily includes reconnection fees. Overview Introduction Understanding Phuthuma Nathi Understanding MultiChoice SA MultiChoice SA performance Financial review Corporate governance review Shareholder information Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 73
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