1Spatial (AIM: SPA) Announces Final Results for the year ended 31 January 2021

The key assumptions used in the value in use calculations were the pre-tax discounts rate applied (13%) and growth assumptions. Sales forecasts and their corresponding costs for the Group in relation to the business applications for the five-year period ending 31 January 2026 are likely to increase by 12% p.a. overall. No impairment is required as no individual asset has a higher carrying value than its value in use.

 

Goodwill

£'000

Brands

£’000

Customers

and related contracts

£’000

Software

£’000

Development

costs

£’000

Website costs

£’000

Intellectual property

£’000

Total

£’000

Cost

At 1 February 2019

16,161

232

2,843

4,421

15,012

30

66

38,765

Arising on acquisition

1,338

226

1,847

2,164

-

-

-

5,575

Additions

-

-

-

-

2,188

-

-

2,188

Effect of foreign exchange

(208)

(6)

(111)

(98)

(268)

-

-

(691)

At 31 January 2020

17,291

452

4,579

6,487

16,932

30

66

45,837

Accumulated impairment and amortisation

At 1 February 2019

11,533

165

2,754

3,850

10,232

30

7

28,571

Amortisation

-

40

433

385

1,197

-

3

2,058

Impairment

-

-

-

-

111

-

-

111

Effect of foreign exchange

(170)

(1)

(74)

(50)

(166)

-

(2)

(463)

At 31 January 2020

11,363

204

3,113

4,185

11,374

30

8

30,277

Net book amount at 31 January 2020

5,928

248

1,466

2,302

5,558

-

58

15,560

Impairment tests for goodwill

Goodwill is assessed for the Group as a whole as the Group operates with one segment and one CGU. The Group has moved from two CGUs to one as the Group now manages its operations under one global strategy and the European acquisition is now fully integrated into the business. All aspects of the business are focusing now on growing recurring revenue of repeatable solutions using technology that will be deployed globally under a single strategy. Products developed by regional development teams are marketed globally.

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