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51
VTech Holdings Ltd Annual Report 2012
7 Tangible Assets
Land and
buildings
Leasehold
improvements
Moulds,
machinery
and
equipment
Computers,
motor
vehicles,
furniture and
fixtures
Construction
in progress Total
US$ million US$ million US$ million US$ million US$ million US$ million
Cost or valuation
At 1 April 2010 61.0 11.5 250.1 106.1 6.9 435.6
Additions – 0.2 19.8 5.9 – 25.9
Disposals – – (8.1) (3.3) – (11.4)
Revaluation (note (i)) 1.1 – – – – 1.1
Effect of changes in exchange rates 1.6 0.5 1.2 2.5 – 5.8
At 31 March 2011 and 1 April 2011 63.7 12.2 263.0 111.2 6.9 457.0
Additions – 0.5 19.2 10.0 – 29.7
Disposals – – (4.6) (2.3) – (6.9)
Revaluation (note (i)) 7.2 – – – – 7.2
Effect of changes in exchange rates (0.3) 0.3 0.4 0.5 – 0.9
At 31 March 2012 70.6 13.0 278.0 119.4 6.9 487.9
Accumulated depreciation
At 1 April 2010 25.9 5.6 229.0 86.8 6.9 354.2
Charge for the year 3.1 0.9 18.9 10.2 – 33.1
Written back on disposals – – (8.0) (3.3) – (11.3)
Revaluation (note (i)) (0.5) – – – – (0.5)
Effect of changes in exchange rates 0.2 0.2 0.9 1.8 – 3.1
At 31 March 2011 and 1 April 2011 28.7 6.7 240.8 95.5 6.9 378.6
Charge for the year 1.8 0.9 16.0 8.7 – 27.4
Written back on disposals – – (4.6) (2.1) – (6.7)
Revaluation (note (i)) (3.8) – – – – (3.8)
Effect of changes in exchange rates 0.1 0.2 0.4 0.7 – 1.4
At 31 March 2012 26.8 7.8 252.6 102.8 6.9 396.9
Net book value at 31 March 2012 43.8 5.2 25.4 16.6 – 91.0
Net book value at 31 March 2011 35.0 5.5 22.2 15.7 – 78.4
Cost or valuation of tangible assets
is analysed as follows:
At cost 42.5 13.0 278.0 119.4 6.9 459.8
At professional valuation (note (i)) 28.1 – – – – 28.1
70.6 13.0 278.0 119.4 6.9 487.9