Balance Sheet as per Schedule III of the new Companies act 2013

Balance Sheet as per Schedule III of the Companies Act, 2013 in India is designed to present a company’s financial position at a specific point in time. The format ensures transparency and uniformity in financial reporting, enhancing comparability across companies.

Equity and Liabilities

A. Shareholders’ Funds:

1. Share Capital:
   • Authorized Capital
   • Issued Capital
   • Subscribed Capital
   • Paid-up Capital
2. Reserves and Surplus:
   • Capital Reserves
   • Revenue Reserves (e.g., General Reserve, Surplus in Statement of Profit and Loss)

B. Non-Current Liabilities:

1. Long-term Borrowings:
   • Debentures
   • Term Loans from Banks and Financial Institutions
2. Deferred Tax Liabilities (Net):
   • Recognized in accordance with accounting standards
3. Other Long-term Liabilities:
   • Long-term Trade Payables
   • Other liabilities not due within one year
4. Long-term Provisions:
   • Provisions for Employee Benefits
   • Provisions for Other Long-term Liabilities

C. Current Liabilities:

1. Short-term Borrowings:
   • Short-term Loans from Banks
   • Other Short-term Borrowings
2. Trade Payables:
   • Due to Micro and Small Enterprises
   • Other Trade Payables
3. Other Current Liabilities:
   • Current maturities of Long-term Debt
   • Unpaid Dividends
   • Statutory Dues (e.g., Taxes Payable)
4. Short-term Provisions:
   • Provisions for Employee Benefits
   • Provisions for Taxation

Assets

Non-Current Assets:

1. Tangible Assets:
   • Land
   • Buildings
   • Plant and Machinery
   • Furniture and Fixtures
   • Vehicles
2. Intangible Assets:
   • Goodwill
   • Patents
   • Copyrights
3. Capital Work-in-Progress:
   • Expenditure incurred on assets not yet ready for use
4. Non-Current Investments:
   • Investments in Subsidiaries
   • Investments in Associates
5. Deferred Tax Assets (Net):
   • Recognized in accordance with accounting standards
6. Long-term Loans and Advances:
   • Advances to Suppliers
   • Long-term Deposits

B. Current Assets:

1. Inventories:
   • Raw Materials
   • Work-in-Progress
   • Finished Goods
2. Trade Receivables:
   • Receivables from Customers
   • Receivables from Related Parties
3. Cash and Cash Equivalents:
   • Cash on Hand
   • Cash at Bank
   • Other Cash Equivalents
4. Short-term Loans and Advances:
   • Advances to Suppliers
   • Short-term Deposits
5. Other Current Assets:
   • Accrued Income
   • Prepaid Expenses

Example Balance Sheet (Simplified)

Notes:

• Note 1: Details of Share Capital.
• Note 2: Details of Reserves and Surplus.
• Note 3: Details of Long-term Borrowings.
• Note 4: Details of Deferred Tax Liabilities.
• Note 5: Details of Other Long-term Liabilities.
• Note 6: Details of Long-term Provisions.
• Note 7: Details of Short-term Borrowings.
• Note 8: Details of Trade Payables.
• Note 9: Details of Other Current Liabilities.
• Note 10: Details of Short-term Provisions.
• Note 11: Details of Tangible Assets.
• Note 12: Details of Intangible Assets.
• Note 13: Details of Capital Work-in-Progress.
• Note 14: Details of Non-Current Investments.
• Note 15: Details of Deferred Tax Assets.
• Note 16: Details of Long-term Loans and Advances.
• Note 17: Details of Inventories.
• Note 18: Details of Trade Receivables.
• Note 19: Details of Cash and Cash Equivalents.
• Note 20: Details of Short-term Loans and Advances.
• Note 21: Details of Other Current Assets.