Vtech 2002 Annual Report Download - page 52

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VTech Holdings Ltd50
Notes to the Financial Statements
12. INVESTMENTS
2002 2001
US$ million US$ million
Associates
Share of net tangible assets (Note) 0.3 0.4
Other investments
Unlisted investments, at cost 0.1 0.1
0.4 0.5
Note: Investment in associates at 31st March 2002 included goodwill in respect of acquisition of associates of US$0.6 million which had been fully amortized
as at 31st March 2001.
13. STOCKS
2002 2001
US$ million US$ million
Raw materials 18.0 40.7
Work in progress 1.8 6.4
Finished goods 74.6 140.4
94.4 187.5
Analysis by product category:
Telecommunication and electronic products 94.4 187.5
e-Business related services ——
94.4 187.5
At 31st March 2002, no stocks were pledged as security for liabilities (2001: US$0.7 million).
Stocks carried at net realizable value at 31st March 2002 amounted to US$15.3 million (2001: US$51.9 million).
14. ASSETS HELD FOR SALE
2002 2001
US$ million US$ million
Land and buildings
Mexican factories* 19.8 20.1
Transferred from investment properties 1.0 —
Transferred from leasehold land payments (Note 10) 3.7 —
24.5 20.1
Machinery and equipment —10.3
24.5 30.4
* Pursuant to the restructuring plan announced in March 2001, certain factory buildings in Mexico were intended for disposal. The facility in Reynosa was
disposed during the year for US$7.9 million. The sale of part of the building in Guadalajara was entered into during the year for a proceed of US$11.8
million and the completion took place in April 2002. The remaining part of the building in Guadalajara with a net book value of US$8.0 million was
transferred from freehold land and buildings to assets held for sale during the year.
Certain land, buildings and equipment are no longer required for the purposes for which they were originally intended. In addition, sales of
certain land and buildings has been entered into after year end.
The assets have been written down to their estimated recoverable amounts.