Which among the following item does not appear on the balance sheet of a company?

A balance sheet shows the financial position of a company by presenting all assets, liabilities, and equity on a particular date.

Reserve and Surplus appears on the equity and liabilities side under shareholders' funds. It represents accumulated profits retained in the business.

Share Capital also appears on the equity and liabilities side under shareholders' funds. It represents the capital raised by issuing shares to shareholders.

Fixed Assets (now termed as Property, Plant and Equipment) appear on the assets side under non-current assets. These are long-term tangible assets used in business operations.

Contingent Liabilities, however, do not appear in the main body of the balance sheet. These are potential obligations that may or may not arise depending on the occurrence or non-occurrence of uncertain future events. Since their existence is uncertain, they cannot be recorded as actual liabilities.

Contingent liabilities are only shown as a footnote or note to accounts below the balance sheet for disclosure purposes. For example, pending lawsuits, guarantee given for loans taken by others, or bills discounted with banks are contingent liabilities that are merely disclosed and not recorded in the balance sheet.

Therefore, Contingent Liabilities do not appear on the balance sheet itself, making it the correct answer.