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Disclosure requirement under Revised Schedule III of the Companies Act, 2013
Schedule III of the Companies Act, 2013 amended and w.e.f. 01/04/2021 the changes will be applicable in preparation of Balance Sheet
- On the face of the Balance sheet the following should be disclosed
- Current maturity of Long Term Borrowings should be disclosed under the head Borrowings
- Security Deposits should be bifurcated into Current Deposit and Non Current Deposit under the head Other Financial Assets
- Lease Liabilities should be bifurcated into Current Deposit and Non Current Deposit under the head Lease Liabilities
- New Additional disclosure in the Note to the Balance sheet should be disclosed
- Share Capital Note:
Details of Promoter holdings in the following format should be disclosed in all cases of the Company
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Promoter’s Name
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F.Y. 2021-22
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% changes during the F.Y.2021-22
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No. of Shares
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% of the Total Share
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- Trade Payable: Ageing schedule of only overdue including the outstanding where no due date of payment specified in the following format
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Particulars
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Outstanding for the following periods from due dates of the payment
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<1 year
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1– 2 years
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2– 3 years
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>3 years
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Total
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1.MSME
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2.Others
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3.Disputed dues with MSME
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4.Disputed dues with Others
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- Trade Receivables: Ageing schedule of only overdue including the outstanding where no due date of payment specified in the following format
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Particulars
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Outstanding for the following periods from due dates of the payment
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<6 month
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<6 months to 1 year
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1– 2 years
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2– 3 years
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>3 years
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Total
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1.Undisputed Trade Receivable
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2. Undisputed Trade Receivable which have significant increase in Risk
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3. Undisputed Trade Receivable credit impaired
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4.Disputed Trade Receivable considered Good
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5.Disputed Trade Receivable which have significant increase in Risk
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6.Disputed Trade Receivable credit impaired
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- Statement of Current Assets filed with banks and financial institutions for borrowing facilities:
Whether the statement of current assets filed with bank and financial institution for borrowings are in agreement with book of accounts, if not, the reconciliation and description of material discrepancies are required to be disclosed
- Capital work in progress (CWIP) and Intangible Assets under Development (IAUD)
Ageing disclosure for CWIP and IAUD should be disclosed in the following format
Disclosure for Capital work in progress (CWIP)
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Particulars
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Amount in CWIP for a period of
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<1 year
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1– 2 years
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2– 3 years
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>3 years
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Total
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1.Project in Progress
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2.Project Temporary Suspended
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Disclosure for Intangible Assets under Development (IAUD)
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Particulars
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Amount in CWIP for a period of
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<1 year
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1– 2 years
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2– 3 years
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>3 years
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Total
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1.Project 1
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2.Project 2
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- Accounting for scheme of Arrangement
Such disclosure is to be given in the Auditor’s Report. Now it is also to be given in the notes to Financial Statements. The terms of the schemes are in agreement with applicable accounting standard or not
- Disclosure of Ratios:
The following financial and accounting ratios need to be disclosed. The element of each ratio forming numerator and denominator is to be disclosed. Incase of change in any ratio exceeding 25% as compared to the preceding year, additional explanation on such deviation need to be given
As per schedule V of the SEBI (Listing obligation and disclosure requirement), details of more than 25% change in ratios to be given in management, discussion and analysis section in Annual Report
(1) Current Ratio, (2) Debt-Service coverage ratio, (3) Inventory Turnover Ratio, (4) Trade Payable Turnover Ratio, (5) Net Profit Ratio, (6) Debt-Equity Ratio, (7) Return on Equity Ratio, (8) Trade Receivable Turnover Ratio, (9) Net Capital Turnover Ratio, (10) Return on Capital Employed, (11) Return on Investment
Note: Change in Return on Networth to be disclosed irrespective of percentage changes
- Relationship with struck off Company
If company has any transaction with struck off Companies, they shall disclose the following details
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Name of Struck off Company
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Nature of transaction with struck off Company
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Balance Outstanding
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Relationship with the struck off Company
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Investment in securities
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Recoverable
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​
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Payable
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Shares held by Struck off company
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Others
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- Registration of charge or satisfaction of charge
The company shall disclose whether any charge or satisfaction of charge is pending to be registered with ROC beyond the statutory period and details thereof
- Inclusion of prior period errors
Equity change statement to include prior period errors column in Equity Share Capital reconciliation
- Details of crypto currency or virtual currency
For entities investing and trading in crypto currency and virtual currencies during the year, details of amount of Gain / Loss, amount of currency held at reporting date, deposits or advances taken for trading / investing in crypto currencies need to be given
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