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

The fair value of the Group's trade receivables and other receivables is the same as its book value stated above. No interest is charged on overdue receivables.

At 31 January 2021, trade receivables of £3,541,000 (2020: £3,681,000) were fully performing. Before accepting any new customer, the Group assesses the potential customer’s credit quality and defines credit limits by customer.

The Group applies the IFRS 9 simplified approach to measuring expected credit losses using a lifetime expected credit loss provision for trade receivables and contract assets. To measure expected credit losses on a collective basis, trade receivables and contract assets are grouped based on similar credit risk and aging. The contract assets have similar risk characteristics to the trade receivables for similar types of contracts. The expected credit losses are based on the Group’s historical credit losses which are then adjusted for current and forward-looking information on macroeconomic factors affecting the Group’s customers. The Group has identified gross domestic growth rates, unemployment rates and inflation rates as the key macroeconomic factors in the countries in which the Group operates.

At 31 January 2021, trade receivables of £1,986,000 (2020: £1,262,000) were past due but not impaired. The ageing analysis of these customers is set out below. There has been no change in the credit quality of these balances; they relate to customers where there is no history of default and are still considered fully recoverable.

 

2021

£’000

Weighted average loss rate

Impairment

loss allowance

£’000

Current

3,541

0.1%

4

Up to 3 months overdue

1,392

0.5%

7

3 to 6 months overdue

149

2.5%

4

6 to 12 months overdue

272

5.0%

14

> 12 months overdue

253

20.0%

51

 

5,607

 

80

.

 

2020

£’000

Weighted average loss rate

Impairment

loss allowance

£’000

Current

3,681

0.1%

4

Up to 3 months overdue

997

1.5%

15

3 to 6 months overdue

87

5.0%

5

6 to 12 months overdue

123

10.0%

13

> 12 months

124

25.0%

31

 

5,012

 

68

The ageing of these receivables is as follows:

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23  Next Page »
Featured Video
Jobs
CAD Engineer for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise