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Balance sheet required for 2 addresses

16 May 2020

Sir,

I am proprietor of firm which is working in Delhi since 2014. Now I have registered separate GST with same PAN number in Mathura also. I have built a factory in Mathura also for manufacturing purpose.

Do I need to make separate balance sheet for 2 firms?

I need to apply for loan in Mathura how can I make balance sheet of Mathura ( did sale material for 6 months).

Do I need to club the figures of Delhi and Mathura.

Please help

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4 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 17 May 2020

Everything is separate financial statements. It should be in accordance with Ind AS 1. I guess branch accounting will work out in separate statements. Just recognise loan in Madhura statements. Yes you have to club the figures.

Mohit Jagnani (Professional - CA firm) (524 Points)
Replied 17 May 2020

Hi sir,

there is no need to make separate balance sheets

as far as loan is considered please consider a consolidated amount.

also for availing subsidy since you are planning for manufacturing unit there won't be any requirement for two separate balance sheet just make sure you file your gst correctly and avail other benefits with due care

thanks
Mohit
8335093446

SOHAN LAL (Manger Accounts & Finance) (363 Points)
Replied 17 May 2020

No need to prepare sperate balance sheet. you can single balance sheet of Delhi & Mathura branch with consolidated figures

CA Kratanshu Gupta (Chartered accountant) (290 Points)
Replied 18 May 2020

In the case of proprietorship firm , only one financial Statement on consolidated basis is need to prepared and for taking loan for mathura , you need also projected financial statement , in case you require further assistance, you can write me at cakratanshugupta @ gmail.com