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

As of 31 January 2021, trade receivables of £80,000 were impaired (2020: £68,000) and provided for. The trade receivables above include performance retentions on long-term contracts.

Movements on the Group provision for impairment of trade receivables are as follows:

 

2021

£’000

2020

£’000

At 1 February

68

13

Created on acquisition

-

55

Increase in provision

12

-

At 31 January

80

68

The other classes within trade and other receivables do not contain impaired assets and the Group expects to recover these in full. There are no financial assets whose terms have been renegotiated that would otherwise be past due or impaired.

The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivable noted above. The Group does not hold any collateral as security.

  • Cash and cash equivalents and notes to the consolidated statement of cash flows

     

    2021

    £’000

    2020

    £’000

    Cash at bank and in hand

    7,278

    5,108

     

    7,278

    5,108

    The fair value of the Group's cash and cash equivalents is the same as its book value stated above.

    Notes to the consolidated statement of cash flows

    1. Cash generated from operations

       

      2021

      £'000

      2020

      £'000

      Loss before tax

      (1,433)

      (1,733)

      Adjustments for:

      Finance income

      (39)

      (40)

      Finance cost

      226

      184

      Depreciation

      1,308

      1,030

      Amortisation of acquired intangibles

      917

      861

      Amortisation and impairment of development costs

      1,889

      1,308

      Share-based payment charge

      272

      398

      Net foreign exchange movement

      (34)

      167

      Increase in trade and other receivables

      (655)

      (2,377)

      Increase in trade and other payables

      1,446

      702

      Increase in defined benefit pension obligation

      86

      72

      Cash generated from operations

      3,983

      572

       

      2021

      £'000

      2020

      £'000

      Cash generated from operations before strategic, integration and other non-recurring items

      4,156

      1,861

      Cash flow on strategic, integration and other non-recurring items

      (173)

      (1,289)

      Cash generated from operations

      3,983

      572

    2. Reconciliation of net cash flow to movement in net funds

     

    2021

    £'000

    2020

    £'000

    Increase/(Decrease) in cash in the year

    1,976

    (1,178)

    Changes resulting from cash flows

    1,976

    (1,178)

    Net cash inflow in respect of new borrowings

    (1,800)

    (672)

    Change in net funds due to borrowings acquired

    -

    (731)

    Net cash outflow in respect of borrowings repaid

    146

    133

    Effect of foreign exchange

    57

    (23)

    Change in net funds

    379

    (2,471)

    Net funds at beginning of year

    3,887

    6,358

    Net funds at end of year

    4,266

    3,887

    Analysis of net funds

    Cash and cash equivalents classified as:

    Current assets

    7,278

    5,108

    Bank loans

    (3,012)

    (1,221)

    Net funds at end of year

    4,266

    3,887

    Net funds is defined as cash and cash equivalents net of bank loans.

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