67
VTech 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.
