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
-
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
-
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.
