Children with cerebral palsy (CP) face a higher health risk due to imbalance and gait variability. The spatiotemporal gait parameters can be estimated using data collected from inertial measurement units (IMUs) containing accelerometer and gyroscope sensors. The existing algorithms for gait analysis using data collected from IMUs provide many false initial contact/final contact (IC/FC) points. This paper proposes an S-transform based method for detecting IC/FC points in continuous inertial data collected using IMU from children suffering from CP. This study provides a comprehensive comparative analysis of the spatiotemporal gait parameters of children affected by CP. The performance of the proposed method is compared with that of three existing state-of-the-art methods. The algorithms are evaluated using single IMU data from twenty-five children affected by CP and ten children without CP. Among the three competing algorithms, one method only estimates temporal parameters, whereas the other two provide spatiotemporal parameters. The accuracy of the proposed S-transform based method in calculating spatiotemporal parameters is the highest among the competing algorithms. Therefore, the proposed S-transform-based approach could be a better candidate for reducing the false IC/FC points during gait analysis of children suffering from CP.