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VTech Holdings Limited Annual Report 2015
Notes to the Financial Statements
58
7 Tangible Assets (Continued)
Land and buildings comprise:
Freehold land
and buildings
and medium-
term leasehold
land and
buildings
US$ million
Short-term
leasehold
buildings
US$ million
Total
US$ million
Cost
At 1 April 2013, as previously reported 25.2 42.3 67.5
Effect of change in accounting policy (note B) (13.9) –(13.9)
At 1 April 2013, as restated 11.3 42.3 53.6
Effect of changes in exchange rates 0.8 –0.8
At 31 March 2014 and 1 April 2014
, as restated
12.1 42.3 54.4
Additions –0.1 0.1
Effect of changes in exchange rates (1.8) –(1.8)
At 31 March 2015 10.3 42.4 52.7
Accumulated depreciation
At 1 April 2013, as previously reported 0.5 27.8 28.3
Effect of change in accounting policy (note B) 5.3 –5.3
At 1 April 2013, as restated 5.8 27.8 33.6
Charge for the year 0.5 1.2 1.7
Effect of changes in exchange rates 0.3 0.1 0.4
At 31 March 2014 and 1 April 2014
, as restated
6.6 29.1 35.7
Charge for the year 0.3 1.3 1.6
Effect of changes in exchange rates (1.0) –(1.0)
At 31 March 2015 5.9 30.4 36.3
Net book value at 31 March 2015 4.4 12.0 16.4
Net book value at 31 March 2014
, as restated
5.5 13.2 18.7
Net book value of land and buildings comprises:
Hong Kong
Medium-term leasehold land and buildings (less than 50 years
but not less than 10 years) 1.5 –1.5
Overseas
Freehold land and buildings 2.9 –2.9
Short-term leasehold buildings –12.0 12.0
2.9 12.0 14.9
8 Leasehold Land Payments
Note
2015
US$ million
2014
US$ million
Net book value at 1 April 5.1 5.2
Amortisation 2(0.1) (0.1)
Net book value at 31 March (note (i)) 5.0 5.1
Leasehold land payments in respect of:
Owner-occupied properties 5.0 5.1
Note:
(i) Included in leasehold land payments is the amount of US$3.0 million (2014: US$3.0 million) paid for the acquisition of certain sites in the PRC.