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TMI BlogAnnual accounts - Form and contents of ‑Model form of balance sheet other than set out in Part I of Schedule VIX X X X Extracts X X X X X X X X Extracts X X X X ..... posed to issue any general order in exercise of the powers vested in the Government under section 211(1). MODEL FOrM OF BALANCE SHEET BALANCE SHEET OF.................................................................................................................. [ here enter the name of the company ] AS AT............................................................................................................................................ [ here enter the date at which the balance sheet is made out ] Instructions in accordance with which assets and liabilities should be made out Description Figures for the current year Figures for the previous year *Terms of redemption or conversion (if any) of any redeemable preference capital to be stated, together with earliest date of redemption or conversion. I. *SHARE CAPITAL Authorised...... shares of Rs......each Particulars of any option on unissued share capital to be speci fied. Issued (distinguishing between the various classes of capital and stating the particulars specified below in respect of each ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... valuation shown by the books shall be given. For the purposes of this paragraph such valuation shall be the net amount at which an asset stood in company s books at the commencement of this Act after deduction of the amount previously provided or written of for depreciation or diminution in value, and where any such asset is sold, the amount of sale proceeds shall be shown as deduction. Where sums have been written off on a reduction of capital or a revaluation of assets, every balance sheet (after the first balance sheet), subsequent to reduction or revaluation shall show the reduced figures and with the date of the reduction in place of the original cost. Each balance sheet for the first five years subsequent to the date of the reduction, shall show also the amount of the reduc tion made. Similarly, where sums have been added by writing up the assets, every balance sheet subsequent to such writing up shall show the increased figure with the date of the increase in place of the original cost. Each balance sheet for the first five years subse quent to the date of writing up shall also show the amount of increase made. III. *FIXED ASSETS Distinguishing as far as pos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the company at any time during the year to be shown by way of note. The provision to be shown under this head should not exceed the amount of debts stated to be considered doubtful or bad and any surplus of such provisions, if already created, should be shown at every closing under Reserves and Surplus (in the Liabilities side) under a separate sub-head Reserve for Doubtful or Bad debts . *The balances lying with bankers on current accounts, call account and deposit accounts shall be shown separately. The above instructions regarding Sundry Debtors apply to Loans and Advances also ( 7 ) *Cash and bank balances ( B ) Loans and advances ( 8 ) Advances and loans to subsidiaries ( 9 ) Bills of exchange ( 10 ) Advances recoverable in cash or in kind or for value to be received, e.g., rates, taxes, insurance, etc. ( 11 ) Balance on current account with managing agents or secre taries treasurers ( 12 ) Balances with customs, port trust, etc., where payable on demand. VI. *MISCELLANEOUS EXPENDITURE [To the extent not written off or adjusted] ( 1 ) Preliminary expenses ( 2 ) Expenses including co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the portion for which value has still to be given, e.g., in case of the following classes of companies : newspaper, fire insurance theatres, clubs, banking steamship companies, etc. ( 5 ) Unclaimed dividends ( 6 ) Other liabilities (if any) ( 7 ) Interest accrued but not due on loans ( B ) Provisions ( 8 ) Provision for taxation ( 9 ) Proposed dividends ( 10 ) For contingencies ( 11 ) For provident fund scheme ( 12 ) For insurance, pension and similar staff bene-fit schemes ( 13 ) Other provisions CURRENT LIABILITIES NET CURRENT ASSETS (A footnote to the balance sheet may be added to show separate ly) ( 1 ) Claims against the company not acknowledged as debts ( 2 ) Uncalled liability on shares partly paid *The period for which the dividends are in arrears of if there is more than one class of shares, the dividends on each such class are in arrears, shall be stated. The amount shall be stated before deduction of income-tax, except that in the case of tax-free dividends the amount shall be shown free of income-tax and the fact that it is so shown shall be stated. *The amount of any guarantees given by the company on be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the names of the companies vide section 370; the maximum amount due from every one of these at any time during the year must be shown. (j) Particulars of any redeemed debentures which the company has power to issue should be given. (k) Where any of the company s debentures are held by a nominee or a trustee for the company, the nominal amount of the debentures and the amount at which they are stated in the books of the company shall be stated. (l) A statement of investments (whether shown under Investments or under Current assets as stock‑in‑trade) separately classifying trade investments and other investments should be annexed to the balance sheet showing the names of the bodies corporate, indicating separately the names of the bodies corporate in the same group (with the name of the managing agent or secretaries and treasurers, if any, of every body corporate) in whose shares or debentures investments have been made (including all investments whether existing or not, made subsequent to the date as at which the previous balance sheet was made out ) and the nature and extent of the investment so made in each such body corporate; provided that in the case ..... X X X X Extracts X X X X X X X X Extracts X X X X
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