NVFH 2020 Integrated Annual Report

NVest Financial Holdings Limited and its subsidiaries | (Registration number 2008/015990/06)
Annual Financial Statements for the year ended 29 February 2020
Notes to the Annual Financial Statements [continued]
Group
Company
Figures in Rand Notes 2020 2019 2020 2019
20. Revenue [continued]
Disaggregation of revenue from contracts with customers
The group disaggregates revenue from customers as follows:
Rendering of services
Commissions received 203,842,694 191,502,206 - -
Management fees received 54,062,963 54,784,446 - -
Administration fees received 2,891,523 3,164,187 8,628,684 6,919,531
Fees earned 615,125 493,158 - -
Brokerage 2,575,283 5,783,553 - -
263,987,588 255,727,550 8,628,684 6,919,531
Timing of revenue recognition
At a point in time
Rendering of services 263,987,588 255,727,550 8,628,684 6,919,531
21. Cost of sales
Rendering of services 118,097,465 116,785,774 - -
Rendering of services
Administration and management fees paid 31,272,554 18,440,499 - -
Fees earned - 1,991,271 - -
Commissions paid 86,824,911 96,354,004 - -
118,097,465 116,785,774 - -
22. Other income
Other recoveries - 24,750 2,475,572 2,719,229
Call dealing profit - 317,419 - -
Other income* 613,133 4,679,732 21,790 26,162
613,133 5,021,901 2,497,362 2,745,391
* Other income for 2019 financial year includes a restraint of trade receipt of R4 125 000.
NVest Financial Holdings Limited | INTEGRATED ANNUAL REPORT 2020 111