Vtech 2011 Annual Report Download - page 36

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34 VTech Holdings Ltd Annual Report 2011
Consolidated Financial Statements
Balance Sheet of the Company
As at 31 March 2011
Note
2011
US$ million
2010
US$ million
Non-current assets
Investments in subsidiaries 227.5 227.5
Current assets
Amounts due from subsidiaries 295.8 356.9
Deposits and cash 13 0.3 0.3
296.1 357.2
Current liabilities
Amounts due to subsidiaries (188.0) (206.2)
Creditors and accruals 14 (0.5) (1.8)
(188.5) (208.0)
Net current assets 107.6 149.2
Net assets 335.1 376.7
Capital and reserves
Share capital 17(a) 12.4 12.4
Reserves 18(b) 322.7 364.3
Total equity 335.1 376.7
Approved and authorised for issue by the Board of Directors on
31 May 2011.
Allan WONG Chi Yun PANG King Fai
Director Director
The notes and principal accounting policies on pages 36 to 61 form part of these financial statements.
Consolidated Statement of Cash Flows
For the year ended 31 March 2011
Note
2011
US$ million
2010
US$ million
Operating activities
Operating profit 218.7 224.1
Depreciation of
tangible assets 2 33.1 36.6
Amortisation of leasehold
land payments 2 0.1 0.1
Impairment loss on
construction in progress 2 –6.9
Increase in stocks (70.5) (31.3)
Increase in debtors, deposits
and prepayments (13.6) (21.2)
Increase in creditors and
accruals 12.0 40.0
(Decrease)/increase in
provisions (3.0) 0.6
Cash generated from
operations 176.8 255.8
Interest received 1.6 1.4
Taxes paid (23.1) (12.4)
Net cash generated from
operating activities 155.3 244.8
Investing activities
Purchase of tangible assets 7 (25.9) (20.3)
Proceeds from disposal of
tangible assets 0.1 0.3
Capital injection to a subsidiary –(3.0)
Proceeds received upon
maturity of financial assets –5.0
Proceeds received from/
(placement of) bank
deposits with maturity
greater than three months 13 95.7 (140.7)
Net cash generated from/
(used in) investing
activities 69.9 (158.7)
Financing activities
Proceeds from shares
issued upon exercise
of share options 17(a) & 18 6.8 5.8
Dividends paid 5 (193.6) (140.7)
Net cash used in
financing activities (186.8) (134.9)
Effect of exchange rate
changes 7.8 3.5
Increase/(decrease) in cash
and cash equivalents 46.2 (45.3)
Cash and cash equivalents
at beginning of the year 196.9 242.2
Cash and cash equivalents
at end of the year 13 243.1 196.9