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67VTech Holdings Limited Annual Report 2014
VTech in the Last Five Years
Consolidated balance sheet as at 31 March
2010 2011 2012 2013 2014
(Restated)
US$ million US$ million US$ million US$ million US$ million
Non-current assets
Tangible assets 81.4 78.4 91.0 88.4 85.9
Leasehold land payments 4.9 5.0 5.1 5.2 5.1
Other non-current assets 5.8 5.6 6.1 4.7 2.6
92.1 89.0 102.2 98.3 93.6
Current assets
Stocks 159.3 229.8 239.2 276.9 265.9
Debtors, deposits and prepayments 211.4 225.0 244.2 257.1 235.8
Deposits and cash 382.6 333.1 326.5 308.6 322.9
Other current assets 0.7 0.3 0.8 0.4 0.9
754.0 788.2 810.7 843.0 825.5
Current liabilities (324.9) (329.4) (350.9) (366.0) (337.4)
Net current assets 429.1 458.8 459.8 477.0 488.1
Total assets less current liabilities 521.2 547.8 562.0 575.3 581.7
Non-current liabilities
Net obligation on defined benefit
scheme – – – (6.5) (2.0)
Deferred tax liabilities (3.7) (3.9) (5.8) (4.5) (4.1)
(3.7) (3.9) (5.8) (11.0) (6.1)
Net assets/Total equity 517.5 543.9 556.2 564.3 575.6
Consolidated income statement for the years ended 31 March
2010 2011 2012 2013 2014
(Restated)
US$ million US$ million US$ million US$ million US$ million
Revenue 1,532.3 1,712.8 1,784.5 1,858.0 1,898.9
Profit before taxation 225.5 220.3 211.6 225.6 227.5
Taxation (20.2) (19.1) (19.7) (24.1) (24.2)
Profit for the year 205.3 201.2 191.9 201.5 203.3
Attributable to:
Shareholders of the Company 206.5 202.0 191.9 201.5 203.3
Non-controlling interests (1.2) (0.8) – – –
Profit for the year 205.3 201.2 191.9 201.5 203.3
Basic earnings per share (US cents) 83.7 81.5 77.0 80.6 81.1
Note:
In order to comply with IAS 19 (Revised 2011), Employees benefits, the Group changed its accounting policy with respect to defined benefit scheme in the financial year
ended 31 March 2014. The change in accounting policy has been applied retrospectively. As a result, profit and net assets for the year ended 31 March 2013 has been
restated. Details of the change in accounting policy are disclosed in note B to the financial statements. Figures for the year ended 31 March 2012 and prior years have
not been restated as it would involve delay and expenses out of proportion to the benefits of shareholders.