Vtech 2007 Annual Report Download - page 44

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Notes to the Financial Statements
VTech Holdings Ltd
Annual Report 2007
42
7 TANGIBLE ASSETS
(continued)
Land and buildings comprise:
Freehold land
and buildings
and long-term Short-term
leasehold leasehold
buildings buildings Total
US$ million US$ million US$ million
Cost or valuation
At 1st April 2005 13.4 25.0 38.4
Transfer between categories – 1.0 1.0
Revaluation 1.0 – 1.0
Effect of changes in exchange rate (0.8) 0.3 (0.5)
At 31st March 2006 and 1st April 2006 13.6 26.3 39.9
Transfer between categories – 1.7 1.7
Effect of changes in exchange rate 1.1 0.6 1.7
At 31st March 2007 14.7 28.6 43.3
Accumulated depreciation
At 1st April 2005 1.6 17.5 19.1
Charge for the year 0.3 0.7 1.0
Revaluation (1.0) – (1.0)
At 31st March 2006 and 1st April 2006 0.9 18.2 19.1
Charge for the year 0.4 0.8 1.2
Effect of changes in exchange rate – 0.1 0.1
At 31st March 2007 1.3 19.1 20.4
Net book value at 31st March 2007 13.4 9.5 22.9
Net book value at 31st March 2006 12.7 8.1 20.8
Cost or valuation of tangible assets is analysed as follows:
At cost – 28.6 28.6
At professional valuation-2006 (Note (a)) 14.7 – 14.7
14.7 28.6 43.3
Net book value of land and buildings comprises:
Hong Kong
Long-term leasehold buildings (not less than 50 years) 1.1 – 1.1
Overseas
Freehold land and buildings 12.3 – 12.3
Short-term leasehold buildings – 9.5 9.5
12.3 9.5 21.8
Net book value of revalued land and buildings had the assets
been carried at cost less accumulated depreciation 5.7 – 5.7
12bVtechNotes(E).indd42 2007/7/511:37:49PM