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

£113,000). Amortisation of costs to obtain and fulfil a contract for the year ended 31 January 2021 were £109,000 (2020: £71,000). The Group has no significant concentration risk with no major customers representing more than 10% of Group revenue. (2020: nil).

The Group has significant contract balances (both assets and liabilities), which arise out of the ordinary course of its operations. Contract assets include accrued income, which arises where chargeable work is performed, and the revenue is recognised based upon satisfaction of performance obligations in advance of invoicing the client. This can arise because, particularly for some larger projects, client invoicing may be in stages and linked to project milestones. Once an invoice is raised then the related accrued income will be reduced by the invoiced amount.

Significant contract liabilities arise when a client has been invoiced annually in advance (for example, for annual support and maintenance contracts) and the revenue is recognised on a monthly basis over the year. In that case, the initial invoiced amount is fully deferred and then released to the profit and loss over the course of the contract.

The following table provides an analysis of the Group’s non-current assets by location.

 

2021

£’000

2020

£’000

UK/Ireland

6,772

7,223

Europe

8,741

8,950

United States

2,755

3,007

Rest of World

5

26

Total

18,273

19,206

4. Strategic, integration and other non-recurring items

In accordance with the Group's policy for strategic, integration and other non-recurring items, the following charges were included in this category for the year:

 

2021

£’000

2020

£’000

Costs associated with the acquisition and integration of Geomap-Imagis

555

1,198

Net credits associated with the disposal of Enables IT

(63)

(31)

Total

492

1,167

Costs of £0.6m in relation to the acquisition and integration of the Geomap-Imagis acquisition comprise professional fees associated with integrating the operations, costs of legal and operational merger activities and redundancies as part of the restructuring.

The Group also received £63,000 further receipts related to the disposal of Enables IT in a prior year.

  1. Income tax credit

     

    2021

    £’000

    2020

    £’000

    Current tax

    UK corporation tax on income for year

    (187)

    (212)

    Foreign tax

    73

    (6)

    Adjustments in respect of prior years

    (268)

    48

    Total current tax

    (382)

    (170)

    Deferred tax (note13)

    Origination and reversal in temporary differences

    (111)

    (78)

    Effect of tax rate change on opening balance

    11

    -

    Adjustments in respect of prior years

    174

    -

    Total deferred tax

    74

    (78)

         

    Total tax credit

    (308)

    (248)

    Factors affecting the tax credit for the year:

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