Form 4 20 Rule 4 34-CVL The Insolvency Act 1986 sf S.95/99 Statement of Company's a Pursuant to Section 95/99 of the Insolvency Act 1986 For official use rrr a To the Registrar of Companies Company Number 01975246 Name of Company (a) Insert full name of company (a) Myrrh Limited (b) Insert fullname(s) — | Richard Rones and address(es) Of ThorntonRones Limited 311 High Road Loughton Essex 1G10 1AH (c) Insert date the Liquidator of the above named Company attach a statement of the Company’s affairs as at 16 January 2015 Signed [Ee Date Wag Presenters name, cv 320A/RJR/HS/SS/M188/0602 For Official Use address and reference (if any) Harmison Smith ThorntonRones Limited 311 High Road Loughton FRIDAY Essex {G10 1AH *A3ZNUFSX* A17 23/01/2015 #353 COMB ANIES uALies Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of- MYRRH LIMITED On 16 January 2015, the date of the resolution for winding up Statement of Truth ! believe that the facts stated in this statement of affairs are a full, true and complete statement of the affairs of the above named company as at 16 January 2015 Full name AnpREW Foun STABLES Signed He Dated 16 Frccany 2O1F Appendix A Myrrh Limited DIRECTORS’ ESTIMATED STATEMENT OF AFFAIRS AS AT 16 January 2015 Notes Book Value Estimated to Realise £ £ ASSETS Assets specifically pledged 52 Ossory Road, London 1 541,600 541,600 Less Unity Trust Bank 1 (198,898) (198,898) Surplus/Deficit cif 342,702 342,702 Assets not specifically pledged Surplus from 52 Ossory Road 1 342,702 342,702 Cash at Bank 2 18 18 Fumiture & Equipment 3 18,689 4,424 Debtors 4 83,039 66,432 Surplus/(Deficit) available to preferential creditors 444,448 413,576 Preferential Creditors Employee Entitlements 5 (17,193) (17,193) Net assets 427,255 396,383 Less Prescribed Part - Section 176a Insolvency Act 1986 6 (69,782) (69,782) Surplus (Deficit) available unsecured creditors 357,473 326,601 Prescribed Part - Brought Down 6 69,782 69,782 Unsecured Creditors Trade & Expense Creditors 7 39,064 39,064 HM Revenue & Customs 8 17,946 17,946 Employee Entitlements 5 204,560 204,560 Pension Cessation Liability 9 319,328 319,328 (580,898) (580,898) Estimated defictency as regards creditors {153,643} (184,515) Issued and Called up Capital Trustees Guaranteed Sum 10 7 Estimated total deficiency (184,522) Signature Ye. Date (6% Jansor, 201 Myrrh Limited NOTES TO THE DIRECTOR'S STATEMENT OF AFFAIRS AS AT 16 January 2015 52 Ossory Road, London The property is hefd under a long term lease which commenced on 21 December 1995 The property was formally valued by surveyors in April 2013 with an estimated market value of £550,000 Itis estimated that the property will realise a similar value on the market today Since being instructed | have been informed that the Unity Trust Bank who hold a fixed and floating charge over property have exercised their nght to appoint an LPA Receiver An LPA Receiver pursuant to the Law of Property Act 1925 1s a person (not necessanly an insolvency practitioner) appointed to take charge of a mortgaged property by a lender whose loan ts in default, usually with a view to sale or to collect rental income for the lender Cash at Bank The sum of £18 1s being held in the company's bank account Furniture and Equipment Agentcite Limited an expenenced firm of chattel agents have valued the assets for the purposes of the Statement of Affairs The book value has been taken from the balance sheet as at 31 July 2013 Agenticte have estimated that the office furniture and equipment has an estimated realisable value of £2,819 and the worshop equipment has an estimated realisable value of £1,605 It should be noted however that the landiord at the Brass Tacks Training centre has changed the focks and prevented our agents from gaining access Therefore realisations may be less than esttmated A number of Computers and Servers were subject to finance agrrements There will be no surplus avatlable to the liquidation from these Debtors The book value and estimated to realise vale of the debtors has been provided by the directors The debtors consist of two debtors and are estimated to realise 66,432 A 20% bad debt proviston has been estimated Employee Entitlements Final employee claims are estimated The Company's employees are entitled to claim for any wage arrears, accrued holiday pay, notice penod entitlement and redundancy payments Of these claims, wages up to £800 and all holiday ts preferential which means that these amounts have to be settled pnor to any other unsecured claims Any remaining claim ranks equally with all other unsecured creditors Prescribed Part Section 176A of the Insolvency Act 1986 provides that the office holder of a company in fiquidation must make a percentage of the The level at which the prescnbed part will be calculated 1s as follows - The prescnbed minimum will be set at £10,000 : 50% of the first £10,000 of net property, - 20% of net property thereafter - Up to a maximum prescnbed part of £600,000 Trade & Expense Creditors A schedule of the Company's creditors Is attached at Appendix B 8 HM Revenue & Customs (“HMRC”) The debt to HMRC is made up as follows Type Amount (£) PAYE 17,946 17,946 The liability relates to two months arrears of payments Pension Cessation Liability The London Pension Fund Authonty have submnted a claim for the sum of £319,327 56 This hability represents the lump sum due from the company upon cesastion of the scheme 10 Trustees Guaranteed Sums The Company ts limited by guarantee, which means that there are no shareholders Instead the Company has members/subscnbers who provide a guarantee limited to a certain sum, which in this instance ts £1 In the event that the Company is wound up on an insolvent basis the members/subscribers must contribute this sum to the Company's assets 11 Fees and Expenses tn prepanng the Statement of affairs, no account was taken of the cost of holding meetings of members and creditors or the costs of liquidation The Company has agreed a fee of £7,000 plus VAT and disbursements in respect of assistance provided in the preparation of the Statement of Affairs and in convening meetings of the Company's members and creditors 9b Sey M8 7Owy ‘euysyieg ‘Hulpeey ‘weysiarey 'JoaNs e61095 Zz, sedis Aupune yyBiuy ayyAA 9L SEE dS LLSM ‘eulyspsoyeys ‘yoouueD ‘jusoses9 poomsbuly ‘asnoy poomsbuly e108, 00 00S‘z XU} LHe ‘Aeuing ‘1ypey eens YoIH /G-Gg ‘ajeg abpug JaMOd PUB SEX [B]OL cv 682 MLE 8ENS ‘UOpUIMS ‘pez XOg Od JayeA, soweyl LL 2S@ 336 €710 ‘uojGulveg ‘eH uspmoyy UOISUsg SIsYyoee | 2€ 961't Zd0 6MS “UOPUL) ‘emyD0}g ‘peoy wWeyde|D 9Ez-97Z PI] SaUOSsacoYy SUO}OPY [JaMyxO0}]S 00 98r'+ fav dbs ‘vopuoy ‘e979 xog Od SdIANaS Sjjeuag pue SenusASY WeMUINOS 96 HSL GVZ SZOw ‘ex0)s6ulseg ‘1owuing e075 UMOg ‘Wey aqa|5 suanesunwWwED Waynes DOLL OZAW ‘Uay 86 ZrL ‘euojspleyy ‘psojsaAy ‘oye}89 |BLYSNPU Poop”, AEN ‘peoy exe] OZ UN Paw] WN Yearly Hayes GE Pre'9 SHI ZLLy ‘Aeung ‘wosd3 ‘jeau)s sey 09 ‘esnoH yIpauD WNIWelg WpesD WNW, 9S 2ze'6Le TIO LAS ‘Yopuoy 4ee4g YOIUN 69 ‘OO}4 PUZ Aoyjny spuny voisuag uopuoc7 00 €9 FAS SMS ‘YOpU0] ‘oyeW UEpsed JUBAOD MBN ‘pH/ePy HUN payui] sauieg uopuo7 00 89¢ GUL ZMS ‘UOPUOT ‘IIH UO}xug g]} ‘asnoY SLOW aAI|Q ‘adIAIag UONDe!/05 pue Bulig yjeque’] jo uBnolog uopuo7 000 pGZS7Z/S28 J8u ‘poomulsig ‘moBse|D enuaney puejul ZZ| 86A4N ‘9uA| UOdN ayseomen cy OPEL ‘MalA Ed UdjUag ‘asnoyH WeYbulItyD ‘ZOLPdd ‘eOWO JaXojdwy suoyesedG Jowojysng (SAVd) swojysnd 9g eunaAeYy WH al S21 ‘apishasiay ‘|Joodeary 000 ‘peoy uovaW ‘asnoyH suYyor 1S ‘ZSGE NUN ‘ANB SENnueUD 1dS ‘Sexe! 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