628 
SECRETARIAL PRACTICE 
Soprents of 124 —(1) Every balance sheet of a company shall contain a 
alance sheet. summary of the authorised share capital and of the issued share 
capital of the company, its liabilities and its assets, together with 
such particulars as are necessary to disclose the general nature of 
the liabilities and the assets of the company and to distinguish 
between the amounts respectively of the fixed assets and of the 
floating assets, and shall state how the values of the fixed assets 
have been arrived at. 
(2) There shall be stated under separate headings in the balance 
sheet, so far as they are not written off— 
(a) the preliminary expenses of the company; and 
(b) any expenses incurred in connection with any issue of share 
capital or debentures; and 
if it is shown as a separate item in or is otherwise ascertain- 
able from the books of the company, or from any contract 
for the sale or purchase of any property to be acquired by 
the company, or from any documents in the possession of 
the company relating to the stamp duty payable in respect 
of any such contract or the conveyance of any such property, 
the amount of the goodwill and of any patents and trade- 
marks as so shown or ascertained. 
2) 
(3) Where any liability of the company is secured otherwise 
than by operation of law on any assets of the company, the balance 
sheet shall include a statement that that liability is so secured, but 
it shall not be necessary to specify in the balance sheet the assets 
on which the liability is secured. 
(4) The provisions of this section are in addition to other 
provisions of this Act requiring other matters to be stated in balance 
sheets. 
Assets consisting 125. Where any of the assets of a company consist of shares in, 
of shares in sub- : . 
sidiary com- or amounts owing (whether on account of a loan or otherwise) 
panies to be set from a subsidiary company or subsidiary companies, the aggregate 
out separately amount of those assets, distinguishing shares and indebtedness, 
shall be set out in the balance sheet of the first-mentioned company 
separately from all its other assets, and where a company is indebted, 
whether on account of a loan or otherwise, to a subsidiary company 
or subsidiary companies, the aggregate amount of that indebtedness 
shall be set out in the balance sheet of that company separately from 
211 its other liabilities. 
Beane sheet to 126.—(1) Where a company (in this section referred to as “the 
ears oat holding company ”’) holds shares either directly or through a nominee 
subsidiary in a subsidiary company or in two or more subsidiary companies, 
Opes there shall be annexed to the balance sheet of the holding company 
a statement, signed by the persons by whom in pursuance of section 
one hundred and twenty-nine of this Act the balance sheet is signed, 
stating how the profits and losses of the subsidiary company, or, where 
there are two or more subsidiary companies, the aggregate profits