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Compliance Format

Financial Statement Notes Format — Notes to Accounts

Notes to accounts explain and disclose the line items of the balance sheet and statement of profit and loss.

NOTES TO FINANCIAL STATEMENTS

Forming an integral part of the financial statements for the year ended 31 March, prepared under Schedule III and applicable Accounting Standards / Ind AS.

Note 1 — Significant Accounting Policies

Basis of preparation[Historical cost, accrual basis, going concern]
Revenue recognition[On transfer of control / rendering of services]
Property, plant & equipment[At cost less accumulated depreciation]
Inventories[Lower of cost and net realisable value]
Employee benefits[Defined contribution / actuarial valuation]

Note 2 — Share Capital

ParticularsAs at 31.03.2025As at 31.03.2024
Authorised: [10,00,000] equity shares of Rs. 10 each[1,00,00,000][1,00,00,000]
Issued, subscribed & paid-up: [5,00,000] equity shares of Rs. 10 each[50,00,000][50,00,000]
[________________][__________][__________]

Note 3 — Reserves & Surplus

ParticularsCurrent yearPrevious year
Opening balance of surplus[22,00,000][15,00,000]
Add: Profit for the year[18,40,000][7,00,000]
Closing balance[40,40,000][22,00,000]

Compliance note: Notes must disclose the reconciliation of share count, terms of securities, ageing of receivables/payables, related-party transactions, contingent liabilities and the Schedule III additional regulatory information (ratios, benami property, wilful defaulter status, etc.). Comparative figures for the previous year are mandatory.

Before you use it — fill in / check

  • Note number
  • Accounting policy
  • Share capital
  • Reserves & surplus
  • Comparative figures

How to use this template

  1. Read through and replace every [bracketed] or blank placeholder with your actual details.
  2. Delete any clause that doesn't apply and add anything specific to your situation.
  3. Click Print / Save as PDF to download, or Copy text to paste into your letterhead.
  4. Get it signed / stamped / notarised as required, and keep a copy for your records.

This is a general, editable template for convenience only — not legal advice. For anything material, have a professional review it. TaxClue isn't liable for how it's used.