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63VTech Holdings Limited Annual Report 2016
19 Reserves
(a) The Group
Details of the movements in reserves of the Group during the years ended 31 March 2015 and 31 March 2016 are set out in the
consolidated statement of changes in equity.
(b) The Company
Share
capital
Share
premium
Shares held
for Share
Purchase
Scheme
Exchange
reserve
Capital
reserve
Revenue
reserve
Total
equity
Note US$ million US$ million US$ million US$ million US$ million US$ million US$ million
At 1 April 2014 12.5 144.5 (0.5) (1.0) 1.0 246.1 402.6
Changes in equity for the year
ended 31 March 2015
Comprehensive income
Profit for the year –––––180.9 180.9
Total comprehensive income for
the year –––––180.9 180.9
Final dividend in respect of
the previous year – – – – – (160.8) (160.8)
Interim dividend in respect of
the current year 5 – ––––(42.7) (42.7)
Shares issued under share option
scheme 18(a) – 3.4––––3.4
Equity-settled share based payments – 0.9 – – (0.9) – –
Share option lapsed during the period ––––(0.1) 0.1 –
Shares purchased for Share Purchase
Scheme 18(c) – – (1.7) – – – (1.7)
Vesting of shares of Share Purchase
Scheme 18(c) – – 1.3–––1.3
At 31 March 2015 and 1 April 2015 12.5 148.8 (0.9) (1.0) – 223.6 383.0
Changes in equity for the year
ended 31 March 2016
Comprehensive income
Profit for the year –––––179.2 179.2
Total comprehensive income for
the year –––––179.2 179.2
Final dividend in respect of
the previous year 5 –––––(153.2) (153.2)
Interim dividend in respect of
the current year 5 –––––(42.7) (42.7)
Shares purchased for Share Purchase
Scheme 18(c) – – (1.0) – – – (1.0)
Vesting of shares of Share Purchase
Scheme 18(c) – – 1.4 – – – 1.4
At 31 March 2016 12.5 148.8 (0.5) (1.0) – 206.9 366.7
Reserves of the Company available for distribution to shareholders
amounted to US$206.9 million (2015: US$223.6 million).
(c) Nature and purpose of reserves
The application of share premium account is governed by the
Companies Act 1981 of Bermuda.
The exchange reserve comprises exchange di erences arising from
the translation of the  nancial statements of foreign operations.
The capital reserve comprises the fair value of the actual or
estimated number of unexercised share options granted to
employees of the Company recognised in accordance with the
accounting policy adopted for share-based payments in note (S).
The hedging reserve comprises the e ective portion of the
cumulative net change in fair value of hedging instruments used in
cash  ow hedges pending subsequent recognition of the hedged
cash  ows.