Notes to the financial statements | Note 39

39. Related parties
 
  Group   Company  
Details of material transactions and balances with related parties not disclosed separately in the financial statements were as follows: 31 March  
2022  
Rm  		 Restated  
31 March  
20211
Rm  		 31 March  
2022  
Rm  		 Restated  
31 March  
20211
Rm  
With shareholders:             
Government of South Africa             
Related party balances             
Finance lease receivable  146  240  48  93 
Trade receivables  911  911  471  629 
Impairment of trade receivables  (264) (232) (11) (76)
Related party transactions             
Revenue  (4 625) (4 414) (3 240) (3 333)

At 31 March 2022, the Government of South Africa held 40.5% (31 March 2021: 40.5%) of Telkom’s shares and had the ability to exercise significant influence, and the Public Investment Corporation held 15.13% (31 March 2021: 15.48%) of Telkom’s shares.
 
    Company  
    31 March 
2022 
Rm 		 31 March 
2021 
Rm 
With subsidiaries:     
Business Connexion (Pty) Ltd     
Related party balances     
Trade receivables  610  829 
Other receivables  14  70 
Other financial liabilities  –  (1 854)
Trade and other payables  (2 839) (2 267)
Related party transactions     
Revenue and other income  (3 502) (3 675)
Expenses  2 197  2 261 
Interest received  –  (3)
Interest expense  72  104 
Dividend received  (2 446) (990)
Yellow Pages (Pty) Ltd     
Related party balances     
Trade receivables  (2) 1 
Other receivables  –  – 
Trade and other payables  (186) (158)
Related party transactions 
 
Revenue  (29) (34)
Dividend received  (34) (26)
Interest paid  3  5 
Swiftnet (Pty) Ltd     
Related party balances     
Trade receivables  2  2 
Other receivables  206  359 
Loans  500  – 
Trade and other payables  (75) (1 275)
Related party transactions     
Revenue  (18) – 
Expenses  627  576 
Dividend received  (1 464) (415)
Interest expense  22  30 

 
 
     Company   
     31 March 
2022 
Rm  		 31 March 
2021 
Rm 
Rossal No 65 (Pty) Ltd 

Related party transactions 
 
Expenses  –  3 
VS Gaming (Pty) Ltd (formerly Acajou Investments (Pty) Ltd)    
Related party balances     
Other receivables  (10) (10)
Trade and other payables  92  83 
Telkom Foundation   
Related party balances     
Trade and other payables  (45) (24)
Related party transactions     
Expenses  74  53 
Interest expense  1  – 
Gyro Solutions (Pty) Ltd     
Related party balances     
Trade receivables  10  19 
Other receivables  –  8 
Trade and other payables  (277) (289)
Related party transactions 
 
Expenses  118  71 
Other income  (5) (2)
Interest expense  1  – 
Dividend received  (103) (41)
Gyro Properties (Pty) Ltd     
Related party balances 
 
Trade and other payables  (42) (50)
Related party transactions 
 
Expenses  180  113 
Interest expense  2  3 
Dividend received  (44) (37)

Except as indicated above, outstanding balances at year-end are unsecured, include interest and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. Except as indicated above, for the year ended 31 March 2022, the Company has not made any impairment of amounts owed by related parties. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.
 
     Group    Company   
     31 March  
2022  
Rm  		 Restated 
31 March 
20211
Rm 		 31 March 
2022 
Rm 		 Restated 
31 March 
20211
Rm 
With entities under common control: Major public entities       
Related party balances 
     
Finance lease receivable  48  88  –  – 
Trade receivables  369  318  276  285 
Impairment of trade receivables  (106) (83) (76) (66)
Trade payables  (1) (1) (1) (1)
Related party transactions   
 
Revenue (excluding lease income) (658) (713) (392) (477)
Operating expenses (excluding lease expense) 278  277  278  277 
Lease income  (31) (32) (31) (32)
Lease expense  42  42  42  42 
Key management personnel compensation (Including Directors and prescribed officers' remuneration):   


Related party transactions         
Short-term employee benefits  229  273  209  254 
Post-employment benefits  16  14  14  13 
Termination benefits  8  5  8  1 
Equity compensation benefits  71  77  66  68 
1  In the current financial year, it was identified that certain amounts from major public entities were incorrectly included in the disclosure relating to the Government of South Africa. The comparatives have been restated to only include related party amounts with regard to the Government of South Africa. The comparatives related to major public entities have also been restated due to changes in the major public entities listing in the current financial year. 
           

Terms and conditions of transactions with related parties

Except as indicated above, outstanding balances at 31 March 2022 are unsecured, include interest and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. Except as indicated above, for the year ended 31 March 2022, the Group has not impaired any of the amounts owed by the related parties. This assessment is undertaken each financial period through examining the financial position of the related party and the market in which the related party operates.