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57VTech Holdings Limited Annual Report 2016
9 Deposits for acquisition of tangible assets
At 31 March 2016, the amount represented deposits for acquisition
of moulds, machinery and equipment and furniture and  xtures.
The balancing payment for the acquisition is included in the capital
commitments for property, plant and equipment (note 21).
10 Investments
At 31 March 2016, investments of US$3.1 million (2015: US$0.1
million) included investment in an unlisted company designated at
fair value through pro t or loss of US$3.0 million (2015: US$Nil).
11 Income Tax in the Consolidated Statement of Financial Position
(a) Current taxation in the consolidated statement of  nancial position represents:
2016
US$ million
2015
US$ million
Provision for profits tax for the year (22.3) (25.2)
Provisional profits tax paid 20.9 17.7
(1.4) (7.5)
Balance of profits tax provision relating to prior years 0.1 0.3
(1.3) (7.2)
Represented by:
Taxation recoverable (note (i)) 2.3 –
Taxation payable (note (i)) (3.6) (7.2)
(1.3) (7.2)
Note:
(i) Taxation recoverable/(payable) in the consolidated statement of  nancial position comprises provision for Hong Kong Pro ts Tax and overseas tax chargeable at the appropriate current
rates of taxation ruling in the relevant countries and after netting o provisional tax paid.
(b) The components of deferred tax assets and the movements for the years ended 31 March 2015 and 31 March 2016 are as follows:
Note
Unutilised
tax losses
US$ million
Other
temporary
differences
US$ million
Total
US$ million
Deferred tax arising from:
At 1 April 2014 0.1 2.4 2.5
Credited to consolidated statement of profit or loss 4 – 1.9 1.9
Credited to other comprehensive income – 0.1 0.1
At 31 March 2015 0.1 4.4 4.5
At 1 April 2015 0.1 4.4 4.5
Charged to consolidated statement of profit or loss 4 – (0.6) (0.6)
Effect of changes in exchange rates (0.1) – (0.1)
Credited to other comprehensive income – 0.2 0.2
At 31 March 2016 – 4.0 4.0
Deferred tax assets and liabilities are o set when they relate to income taxes levied by the same taxation authority on the same
taxable entity.
Deferred tax assets are recognised for tax losses carried forward to the extent that realisation of the related tax bene t through future
taxable pro ts is probable. Deferred tax assets of US$4.7 million (2015: US$4.9 million) arising from unused tax losses sustained in the
operations of certain subsidiaries of US$28.8 million (2015: US$29.6 million) have not been recognised as the availability of future taxable
pro ts against which the assets can be utilised is not considered to be probable at 31 March 2016.
The tax losses arising from Hong Kong operations do not expire under current tax legislation. The tax losses arising from the operations in
the PRC expire 5 years after the relevant accounting year end date. The tax losses arising from the operations in the United States expire
up to 20 years after the relevant accounting year end date, depending on the relevant jurisdictions.