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46 VTech Holdings Ltd Annual Report 2011
Notes to the Financial Statements
7 Tangible Assets
Land and
buildings
US$ million
Leasehold
improvements
US$ million
Moulds,
machinery
and
equipment
US$ million
Computers,
motor
vehicles,
furniture and
fixtures
US$ million
Construction
in progress
US$ million
Total
US$ million
Cost or valuation
At 1 April 2009 60.8 11.6 239.7 96.2 9.5 417.8
Additions – – 14.4 11.7 0.2 26.3
Disposals – (0.4) (5.4) (2.1) – (7.9)
Transfer to leasehold land payments – – – – (2.8) (2.8)
Effect of changes in exchange rates 0.2 0.3 1.4 0.3 – 2.2
At 31 March 2010 and 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 1.1 ––––1.1
Effect of changes in exchange rates 1.6 0.5 1.2 2.5 – 5.8
At 31 March 2011 63.7 12.2 263.0 111.2 6.9 457.0
Accumulated depreciation
At 1 April 2009 22.8 5.1 211.1 77.3 – 316.3
Charge for the year 3.1 0.8 21.4 11.3 – 36.6
Impairment loss (note (i)) – – – – 6.9 6.9
Written back on disposals – (0.4) (5.2) (2.0) – (7.6)
Effect of changes in exchange rates – 0.1 1.7 0.2 – 2.0
At 31 March 2010 and 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 (0.5) ––––(0.5)
Effect of changes in exchange rates 0.2 0.2 0.9 1.8 – 3.1
At 31 March 2011 28.7 6.7 240.8 95.5 6.9 378.6
Net book value at 31 March 2011 35.0 5.5 22.2 15.7 – 78.4
Net book value at 31 March 2010 35.1 5.9 21.1 19.3 – 81.4
Cost or valuation of tangible assets
is analysed as follows:
At cost 42.0 12.2 263.0 111.2 6.9 435.3
At professional valuation (note (ii)) 21.7 ––––21.7
63.7 12.2 263.0 111.2 6.9 457.0