Form 4.20 995/99 Rule 4 34-CVL The Insolvency Act 1986 Statement of Company’s Affairs Pursuant to Section 95/99 of the Insolvency Act 1986 To the Registrar of Companies Company Number 01157398 Name of Company STACEY ARTS LIMITED Asher Miller of David Rubin & Partners LLP Pearl Assurance House 319 Ballards Lane London N12 8LY the Liquidator of the above named company hereby attaches a statement of the Company’s affairs as at 4 March 2011 Signed Date 4 March 2011 Presentor’s name address and For official use Reference (if any) Liquidation Section Post Room MINI David Rubin & Partners LLP Pearl Assurance House 319 Ballards Lane London N12 8LY THURSDAY DX 57368 Finchley 1 10/03/2011 26: Ref ADM/DNB/LMS/S424 COMPANIES HOUSE Rule 4 34-CVL(3) Form 4 19 IN THE MATTER OF THE INSOLVENCY ACT 1986 Statement of Affairs Name of Company Company Number STACEY ARTS LIMITED 01157398 Statement as to the affairs of °®) STACEY ARTS LIMITED of Pearl Assurance House, 319 Ballards Lane, London N12 8LY Statement of Truth I believe that the facts stated in this statement of affairs and any continuation sheets are to the best of my knowledge a true and complete statement of the affairs of the above named Company as at 4 March 2011, being a date not more than 14 days before the date of the resolution for winding up Full Name THOMAS CHARLES GERARD STACEY Signed J ¢ 4 2 trong . Date a uh Lott STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 Estimated Book Value To Realise £ £ £ ASSETS Office equipment - note 2 15,620 1,562 Stock - note 3 108,873 20,000 Debtors - note 4 125,001 12,652 Assets available for preferential creditors 249,494 34,214 Preferential creditors - note 6 (4,800) Estimated surplus available for secured creditor 29,414 Less amount due to secured creditor (list A) - note | (2,490) Estimated surplus available to unsecured creditors 26,924 UNSECURED CREDITORS Crown creditors (per list B) (75,910) Finance hire creditors (per list D) - note 5 (73,908) Trade and expense (per list F) (225,781) Employee claims - note 6 (6,839) Royalty creditors - note 7 (9,533) (391,971) Landlord creditor (per list C) (60.000) Directors loan accounts (per list E) (23,731) (475,702) Estimated deficiency as regards creditors (448,778) Share capital (15,000) ESTIMATED DEFICIENCY AS REGARDS MEMBERS (463 778) a% signatue” / bweD ar] 1 Date > ui 2on STACEY ARTS LIMITED NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 1. Secured creditor HSBC Bank ple are secured by a debenture created on 4 October 2002 and registered at Companies House on 10 October 2002 . Office equipment N The estimated to realise figure in the statement of affairs for office equipment 1s that of the director T C G Stacey and 1s based on 10% of book value . Stock Ge The estimated to realise figure in the statement of affairs for stock 1s that of the director T C G Stacey and is based on his knowledge of the business, the specialist nature of the books and the historical demand levels for the stock 4. Debtors The directors have made a 100% specific provision against certain overseas book debts of £74,393 and a general provision against the remainder of the debtors ledger of 75% in the estimated to realise figures in the statement of affairs since they are of the view that these would be difficult to collect in a liquidation scenario Hire Agreements w The Company had recently entered into two hire agreements and they are shown as creditors for the remainder of the five year term period Employee wages ~ The employees have not received wages for February and an amount of £800 each will fall to be a preferential claim in the liquidation with the balance beimg an unsecured claim Royalty creditors m There are a number of authors who have royalty claims against the Company 8. General The costs of liquidation and potential employee claims for redundancy, pay in lieu of notice and holiday pay have not been taken into account Signature “/ a wn -2- Date Y WS ZOy)7 STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST A - SECURED CREDITORS NAME ADDRESS AMOUNT £ HSBC Bank plc PO Box 648 27/32 Poultry London EC2P 2BX 2,490 LIST B - CROWN CREDITORS HM Revenue & Customs - PAYE Insolvency Claims Handling Unit Room BP2302 Benton Park view Longbenton Newcastle Upon Tyne NE98 1ZZ 65,647 HM Revenue & Customs - Corporation tax Insolvency Claims Handling Unit Room BP2302 Benton Park view Longbenton Newcastle Upon Tyne NE98 1ZZ 10,263 75,910 LIST C - LANDLORD CREDITOR The Tom Stacey Charity 128 Kensington Church Street London W8 4BH 60,000 LIST D - FINANCE HIRE CREDITORS CF Capital ple Capital House Raynham Road Bishops Stortford Herts CM23 STT 36,954 CF Capital plc Capital House Raynham Road Bishops Stortford Herts CM23 5TT 36,954 73,908 Signature Ta 7a ? 3 Date Yai 20 STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST E - DIRECTORS LOAN ACCOUNTS NAME ADDRESS AMOUNT £ TCG Stacey 128 Kensington Church Street London W8 4BH 15,981 John Scott 29 Sedgeford Road London W12 0NA 7,750 23,731 Signature TOD Am ty ‘ pate “ “ Aen STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST F - TRADE AND EXPENSE CREDITORS NAME ADDRESS ADT Fire & Security ple PO Box 352 Manchester M16 9XY 299 Alamy Limited 127 Milton Park Abingdon Oxon OX14 4SA 211 Anna Pichugina 77 Ilkeston Road Nottingham NG7 3HA 340 Anthem Publishing Limited Suite 6 Piccadilly House London Road Bath BAI 6PL 294 CPI Antony Rowe Limited Bumpers Farm Chippenham Wiltshire SN14 6LH 4,380 BCCP Limited Umit 1 Quayside Lodge William Morris Way London SW6 2UZ 734 Bertram Books | Broadlands Business Park Norwich NR7 OWF 517 Blackwells PO Box 757 Oxford OX1 2ET 300 Bookbridge Freight Forwarders Leigh House Weald Road Brentwood Essex CM14 4SL 2,448 Bridgeman Art Library 17-19 Garway Road London W2 4PH 288 British Telecom pic Durham DH 98 IBT 57 Cartograph 50 Coopers Lane Bramley Hants RG26 5BZ 950 5 Date “¢ wr Od? STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST F - TRADE AND EXPENSE CREDITORS NAME ADDRESS AMOUNT £ Cathy Miller Foreign Rights Agency 29A The Quadrangle 49 Atalanta Street London SW6 6TU 386 Chubb Fire Limited 400 Dallow Road Luton LUI 1UR 470 Corbis Images UK Limited 111 Salusbury Road London NW6 6RG 1,293 CPI Cox and Wyman Limited Cardiff Road Reading Berks RG! 8EX 2,258 Crossflight Limited Crossflight House Skyway 14 Calder Way Colnbrook Berks SL3 0BQ 1,372 Davies Rowbotham & Co 1 St Lawrence Court Chobham Surrey GU24 8LX 6,896 Elaine Monaghan 2 Lawns Cottages Witherslack Cumbna LAI! 6SD 490 Embassy News 16 Notting Hill Gate London W11 3JE 61 Galapagos Conservation Trust 5 Derby Street London W1J 7AB 200 Gardners Books Limited 1 Whittle Drive Eastboume East Sussex BN23 6QH 474 Getty Images International Limited 101 Bayham Street London NW1 0AG 811 Good News Digital Books Hallsford Bridge Ongar Essex CM5 9RX 486 Signature <7 WO Prog 6 Date Y we 2a STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST F - TRADE AND EXPENSE CREDITORS NAME ADDRESS AMOUNT £ Graficas 94 Pol Ind Can Casablancas C/Garroba ' Nave 5 08192 Sant Quirze del Valles Barcelona Spain 17,925 Imak Offset Basim Yayin Ataturk Cad Gol Sok No | Yenibosna Istanbul Turkey 3,800 International Press Cutting Bureau 224-236 Walworth Road London SEI7 JE 525 Jellyfish Solutions Limited Suite B First Floor Hollythorns House The Hollythorns New Road Swanmore Hampshire S032 2NW 5,461 Khaled Kassem 85A Ashburnham Road London NW10 5SA 1,100 Laserscan Limited Boundary Road Lytham Lancs FY8 5HU 852 Maas Business Solutions 75A Ambalavanapuram Big Street Vikramasingapuram Tirunelveli India 3,228 Maina Freight Forwarders plc Unit 5 Featherstone Industrial Estate Dominion Road Southall Middx UB2 5DP 292 Medina Publishing Co Limited Hope Cottage Marks Corner Newport TOW PO30 5UH 1,536 Signature ~ ” An oy 7 vate & 6 200 STACEY ARTS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 4 MARCH 2011 LIST F - TRADE AND EXPENSE CREDITORS NAME ADDRESS AMOUNT £ Mega Basim Yayin AS Kalender Sok No 9 34530 Yenibosna Istanbul Turkey 16,499 Michael Howard 33 Block B Naz City Erbil Iraq 3,250 MK2 SA 55 Rue Traversiere 750012 Paris France 150 Multilingual Solutions Unit 33 Barley Mow Business Centre London W4 4PH 241 Oriental Press (UK) Limited New House 67-68 Hatton Garden London ECIN 8SY 49,424 Panalpina Welttransport GmbH Postfach 1329 64528 Morfelden Germany 211 Parallel Publishing Services Limited 6 Byre Cottages Ovingdean Bnghton BN2 7BB 240 Paypoint 1 Finsbury Square London EC2A 1AE 4) Photographers Workshop 2 Collins Street Oxford OX4 1XS 167 Rayapack Unit 1 Marston Gate Ridgmont Bedford MK43 0YL 127 Roxbury Limited 73 Eardley Crescent London SW5 9JT 16,585 8 Date ae