Vtech 2007 Annual Report Download - page 43

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VTech Holdings Ltd
Annual Report 2007 41
7 TANGIBLE ASSETS
Computers,
motor vehicles,
Moulds, furniture and
machinery fi xtures and
Land and and leasehold Construction
buildings equipment improvements in progress Total
Note US$ million US$ million US$ million US$ million US$ million
Cost or valuation
At 1st April 2005 38.4 183.8 69.0 2.4 293.6
Additions – 21.4 8.8 1.3 31.5
Disposals – (5.0) (3.9) – (8.9)
Transfer between categories 1.0 – – (1.0) –
Transfer to leasehold land payments 8 – – – (1.4) (1.4)
Revaluation 1.0 – – – 1.0
Effect of changes in exchange rate (0.5) 0.2 0.2 – (0.1)
At 31st March 2006 and 1st April 2006 39.9 200.4 74.1 1.3 315.7
Additions – 23.2 10.8 3.2 37.2
Disposals – (4.2) (4.0) – (8.2)
Transfer between categories 1.7 – – (1.7) –
Effect of changes in exchange rate 1.7 0.9 1.5 – 4.1
At 31st March 2007 43.3 220.3 82.4 2.8 348.8
Accumulated depreciation
At 1st April 2005 19.1 166.3 55.6 – 241.0
Charge for the year 1.0 11.3 6.7 – 19.0
Disposals – (4.6) (3.5) – (8.1)
Revaluation (1.0) – – – (1.0)
Effect of changes in exchange rate – 0.1 0.1 – 0.2
At 31st March 2006 and 1st April 2006 19.1 173.1 58.9 – 251.1
Charge for the year 1.2 14.9 8.1 – 24.2
Disposals – (3.2) (3.5) – (6.7)
Effect of changes in exchange rate 0.1 0.6 1.1 – 1.8
At 31st March 2007 20.4 185.4 64.6 – 270.4
Net book value at 31st March 2007 22.9 34.9 17.8 2.8 78.4
Net book value at 31st March 2006 20.8 27.3 15.2 1.3 64.6
Cost or valuation of tangible assets is analysed as follows:
At cost 28.6 220.3 82.4 2.8 334.1
At professional valuation-2006 (Note (a)) 14.7 – – – 14.7
43.3 220.3 82.4 2.8 348.8
Note (a): Property revaluation – The amount included valuation of land and buildings denominated in Hong Kong dollars or Euros which were revalued by
independent valuers as at 31st March 2006 on an open market value basis.
12bVtechNotes(E).indd41 2007/7/511:37:49PM