CVLS50 Rule 4.34-CVL The Insolvency Act 1986 Form 4.20 S.95/99 Statement of Company's Affairs Pursuant to Section 95/99 of the Insolvency Act 1986 For official use To the Registrar of Companies Company Number [02069906 {a) Insert full Name of Company name of company (a}_ Dacorum Printing Service Limited (b) Insert full name 1(b) | Mark Beesley & Tracy Mary Clowry and address Beesley Corporate Solutions, Astute House, Wilmslow Road, Handforth, Cheshire, SK9 3HP {c) Insert date the liquidator of the above named company attach a statement of the company’s affairs as at (c) 26 January 2015 _ Signed eal Date 27 January 2015 ae | Presenter’s name, address and reference (if any) Beesley Corporate Solutions, Astute House, Wilmslow Road Handforth Cheshire SK9 3HP Ref MB/4726 For Official Use mung Liquidation Section Post Room > < a (4 5 = < a 31/01/2015 #169 COMPANIES HOUSE ‘ STATEMENT OF TRUTH OF STATEMENT OF AFFAIRS OF DACORUM PRINTING SERVICE LIMITED On 26 January 2015 the date of the resolution for winding up The attached 20 pages are to the best of our knowledge, information and belief, a full, true and complete statement as to the affairs of the above company as at 26 January 2015, the date of the resolution for winding up and that the said company carried on business as (OM™Merczar Petters FullName Zl bf Signed Address Coat DB denn [Bears Hears tba ux) - Full Name Pavip Mieuser Haulee DG Signed D. Voewleid\ ne Address ev zeniew Stun Hae Gepg LvuG anny Video ED . FullName DAVID) SRO Signed = Address FG TURNPKA Asa , Gos Wel RO honoon Eaiv 42D Date 26 January 2015 DACORUM PRINTING SERVICE LIMITED 3. ESTIMATED STATEMENT OF AFFAIRS AS AT 26 JANUARY 2015 Book Estimated Notes Value to Realise £ £ Assets Subject To Fixed Charges Debtors 41 251,856 251,856 Less due to Bibby Financial Services Ltd 41 (251,856) (251,856) Estimated Surplus/(Deficiency) available to Secured Floating Charge creditors Nil Nil Rent Deposit Deed 42 15,504 15,504 Less due to Landiord 42 (16,875) (16,875) Surplus/(Shortfall carried down) (1,371) (1,371). Machine — Subject to Conditional Sale Agreement 43 364,285 235,000 Less due to Sakurai Graphic Systems 43 (235,000) (235,000) Surplus/(Shortfall carried down) 129,285 Nil Assets Subject to Floating Charge Debtors 44 25,754 11,880 Plant and Machinery, Fixture, Fittings and Equipment and Integral Features 45 81,925 25,000 Cash in Hand 46 500 500 Cash at Bank 47 9,242 Nil Surplus/(Deficiency) available to Preferential creditors 237,464 37,380 Employee Claims Arrears and Holiday Pay 49 (3,383) Surplus/(Deficiency) available to prescribed part 33,997 Estimated prescribed part of net property 410 Nil Estimated Surplus/(Deficiency) available to Secured Floating Charge creditors 33,997 DACORUM PRINTING SERVICE LIMITED Bibby Financial Services Ltd 41 Nil 4.11 Estimated Surplus/(Deficiency) available to unsecured creditors 33,997 Unsecured creditors Barclays Bank plc 48 (1,564) HM Revenue & Customs (PAYE/NIC) 412 (30,390) HM Revenue & Customs (VAT) 412 (1,609) HM Revenue & Customs (Corp Tax) 412 Nil Trade & Expense Creditors 413 (232,560) Directors’ Loan Accounts 414 (55,508) Employees Redundancy & Pay in Lieu 415 (92,081) Shortfall to Landlord 42 (1,371) Total Unsecured Creditors (415,083) Estimated deficiency as regards creditors (381,086) Share capital 6 100 Estimated total deficiency as regards members (381,186) DS DACORUM PRINTING SERVICE LIMITED 4 NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS AS AT 26 JANUARY 2015 ASSETS ASSETS SUBJECT TO FIXED CHARGES 41 Debtors — Subject to Invoice Financing Agreement The company entered into an Invoice Financing Agreement, and granted a debenture in support thereof to Bibby Financial Services Limited (Bibby), on 23 March 2010 which was registered at Compantes House on 25 March 2010 and incorporated fixed and floating charges over the assets of the company It is not however considered there are any assets over which a fixed charge could be enforced The director has provided an “Aged Analysis” which confirms that the Invoice Financing account with Bibby has an outstanding balance of £251,856 Whilst the director belreves that this will be a routine collection process, after deduction of Bibby's collection charges, it is not anticipated that a surplus will arise It ts therefore anticipated that no realisations will be made in this regard. 4.2 Rent Deposit Deed A Rent Deposit Deed dated 31 January 2013 and registered at Companies House on 5 February 2013 in favour of Cadbury Pension Trust Limited tn their capacity as Landlord, created a fixed charge over the funds held by them in the account created pursuant to a rent deposit The amount held in the account in accordance with the rent deposit deed document ts £12,920 plus VAT of £2,584 and is to cover the £12,920 and all other monies due or to become due The landlord ts currently due £16,874 98 which represents the Base Rent and Service Charge for the period 25 December 2014 to 24 March 2015 It ts anticipated the Landlord will exercise the right of set off It is therefore anticipated that no realisations will be made in this regard DACORUM PRINTING SERVICE LIMITED 4.3 Machine — Subject to Conditional Sale Agreement The company owns a Five Colour Offset Press which was purchased with the assistance of a Conditional Sale Agreement with Sakura! Graphic Systems Corporation in November 2012. In the unaudited accounts as at 31 March 2014, plant and machinery is shown with a book value of £423,463 Included in this figure is a book value of £364,285 in respect of the machine Under the terms of the agreement there is an outstanding balance of approximately £235,000 In the opinion of professional valuers the machine has a forced sale value of £235,000 it ts not therefore considered that any equity will be available to the liquidation estate ASSETS SUBJECT TO FLOATING CHARGE 4.4 Debtors The company’s records indicate that it currently has non factored debtors of £25,753 50 Whilst the Director has advised that he believes that all debtors will be collectable, it is deemed prudent to make provision for bad debts on a shding scale based on age The company’s records show debtors outstanding in Penod’s 1, 2 and 3 ina sum of £13,327 40, £8,320 35 and £2,778 60 respectively A sliding scale of 60%, 40% and 20% respectively has been used resulting in anticipated realisations in a sum of £7,996 44, £3,328 14 and £555 72 respectively A further £1,327 15 falls outside of the above periods and has been written off for the purposes of the Statement of Affairs 4.5 Plant and Machinery, Fixtures, Fittings and Equipment and Integral Features In the unaudited accounts as at 31 March 2014, plant and machinery ts shown with a book value of £423,463 Included in this figure is the machine referred to in note 43 above which has a book value of £364,285 The fixtures, fittings and equipment ts shown with a book value of £10,948 and the integral features is shown with a book value of £11,799 DACORUM PRINTING SERVICE LIMITED ) Professional valuers have secured all of the Company's plant and machinery, fixtures, fittings and equipment and integral features at its trading premises The valuer has indicated that same have a forced sale value of £25,000, subject to the confirmation and settlement of potential Retention of Title claims 4.6 Cashin Hand This represents Company monies deposited with the nominated Joint Liquidators. 4.7 Cash at Bank This represents the funds held in the company’s bank account The director has however advised that the bank have confirmed that they intend to offset the funds held in the company’s bank account against the outstanding balance on a loan account amounting to approximately £10,806 37 It is therefore anticipated that no realisations will be made in this regard CREDITORS 48 Bank This represents the anticipated balance outstanding to the bank once they have exercised their right of set off See note 4 7 above Whilst the bank has not yet formally confirmed the current outstanding balance, the Director advises that he has given a personal guarantee against the same which he believes ts limited to £10,000 of the outstanding balance 4.9 Preferential Creditors It is estimated that there will be a claims from fourteen employees for outstanding wages and holiday pay The claim tn this regard will constitute a preferential claim 4.10 Prescribed Part This represents the amount of the net property available for the satisfaction of unsecured debts tn accordance with S176A(2) of the Insolvency Act 1986 (as amended) Det QR Os DACORUM PRINTING SERVICE LIMITED It is however anticipated that the floating charge will be discharged in full and that the prescribed part will not be applicable in this case 4.11 Floating Charge Creditor See note 4 1 above 4.12 HM Revenue & Customs The director has estimated that a total of £30,389.80 is owed to the Revenue & Customs tn regards to PAYE and NIC for the period October 2014 to December 2014 A further £1,608 77 Is owed to them tn relation to VAT, for the period September 2014 to December 2014 The director has estimated that there is nothing outstanding to Revenue & Customs in relation to a Corporation Tax 4.13 Trade and Expense Creditors The amounts stated in the statement of affairs have been supplied by the director who believes that these creditors have outstanding monies owed to them The figure detailed in the estimated Statement of Affairs is subject to the agreement of creditors’ claims Creditors’ amounts include VAT where applicable 4.14 Directors’ Loan Accounts This represents funds advanced by the directors. 4.16 Employee Claim This represents the estimated liability in respect of redundancy and pay in leu of notice due to the employees 4.16 General The estimated Statement of Affairs is subject to the Liquidators’ costs and disbursements and the costs of the agents and solicitors employed by the Liquidators The figures detailed in the estimated statement of affairs are subject to the agreement of creditor claims. DS DACORUM PRINTING SERVICE LIMITED Adam Costigan, who ts qualified by experience, of Realise Solutions (UK) Limited is the professional valuer whose services have been employed where referred to in the Statement of Affairs. Other values are based on the directors’ opinion using their knowledge of the specific matters referred to Unless otherwise stated, all agents instructed are independent and have no connection to the insolvent party/ (ies), the office holder(s), proposed Liquidators or Beesley Corporate Solutions Retention of Title claims have been received from a number of creditors which will be dealt with by the duly appointed Liquidators pores a DACORUM PRINTING SERVICE LIMITED 5. SCHEDULE OF CREDITORS Creditor Amount £ Secured Creditors Bibby Factors Slough Limited 0004553 / 001 £ 251,856 00 7 Bath Road Slough Berkshire SL! 3UE Workman LLP £ 16,874 98 Rivergate House 70 Redcliff Street Bristol BS! 6AL Sakurai Graphic Systems Corporation £ 235,000 00 Cherrywell House Tamian Way Hounslow Middlesex TW4 6BL Total Secured Creditors £ 503,730.98 Preferential Creditors Mr John Bracegirdle £ 26510 56 Slimmons Drive St Albans Herts AL4 9AP Ms Maxine Canne £ 63 82 20 Chesham Road Bovingdon Hemel Hempstead HP3 0ED Mr Russell Conway £ 24658 9 Corncrake Close Stopsley Luton LU2 8EL Mrs Dianne Guest £ 19809 77 Holly Drive Aylesbury Bucks, HP21 8TZ DACORUM PRINTING SERVICE LIMITED Mrs Kelly Hawkridge £ 32099 8 Windmill Road Hemel Hempstead HP2 4BJ Mr Terry Hawkridge £ 33380 8 Windmill Road Hemel Hempstead Hertfordshire HP2 4BJ Mr David Hawkridge £ 25397 Penzance Valley Road Studham LU6 2NN Mrs Jean Hawknidge £ 6575 Penzance Valley Road Studham LU6 2NN Mrs Nicola Martin £ 23874 8 Haleswood Hemel Hempstead HP2 4QT Mr Aldo Meccariello £ 24658 8 Hitchens Close Hemet Hempstead HPI 2PP Mr Ian Mooney £ 26514 87 Stopsley Way Luton Beds LU2 7UU Mr David Stride £ 30194 76 Turnpike House Goswell Road London EC1V 7PD Mrs Elaine Stride £ 30194 76 Turnpike House Goswell Road London EC1V 7PD DACORUM PRINTING SERVICE LIMITED Mr David Tustain £ 28013 23 Nightingale Close Luton Beds LU2 8EZ Total Preferential Creditors £ 3,382.57 Non-Preferentia) Creditors HM Revenue & Customs £ 30,389 80 PAYE & Self Assessment PO Box 4000 Cardiff CF14 8HR HMRC (ICHU) As Above Room BP3202 Warkworth House Benton Park View Longbenton Newcastle upon Tyne NE98 1ZZ HMRC Insolvency & Securities As Above 3” Floor Euston Tower 286 Euston Road London NW13UQ HM Revenue & Customs 448 661 519 £ 1,608 77 HMRC Natuonal Insolvency Unit 5" Floor, Regian House James Street Liverpool L75 4AD 2B or not Limited £ 2,520 00 PO Box 654 Cambridge CBI OHU Affinity Water Alc 4783994-3 £ 193 61 Tamblin Way Hatfield Herts ALO 9EZ Alplas Limited i 319 18 Unit 1, Lancaster Bustness Park Aviation Way Southend-on-Sea Essex SS2 6UN DACORUM PRINTING SERVICE LIMITED Antalis McNaughton Ltd £ = 24,085 04 Access 18 King's Weston Lane Avonmouth Bristol BS] 1 8HT Artisan Rollers Limited £ 69 60 Noake Mill Lane Water End Herts HP13BG Barclays Bank Pic 20-39-07 83976351 £ 1,564 24 11 Bank Court Hemet Hempstead Hertfordshire HPt IBX Bees Kneez £ 613 20 Unit 1 Leewood Farm Harthall Lane Kings Langley Herts WD4 8JJ BFS Pressroom Solutions Ltd £ 3,440 92 5 Pincents Kiln Industral Estate Pincents Lane Calcot Berkshire RG3! 7SD Biffa Waste Services Limited £ 51478 Coronation Road Cressex High Wycombe Bucks HP12 3TZ British Telecommunications Pie £ 968 13 Department W — Insolvency Durham TE Providence Row Durham DHt IRR C & D Fork Trucks Limited £ 214 04 Plot 4, Unit [ Warrenwood Industral Estate Stapleford, Nr Hertford Herts SG14 3NU Century Engineenng & Refrigeration £ 192 00 Unit 7 Monaco Works Station Road, Kings Langley Herts WD4 8LQ DACORUM PRINTING SERVICE LIMITED Cheetah Couriers Ltd 1,143 00 6 Maxted Road Hemel Hempstead Herts HP2 7DX Dacorum Borough Council 9,640 00 Civic Centre Hemel Hempstead Herts HPI tHH Dash Products Ltd t/a Dash Finishers 1,959 76 C/o Ultimate Invoice Finance Ltd Bradley Pavilions Pear Tree Road Bradley Stoke, Bristol BS32 0BQ Deadline Reprographic and Printing 5,008 80 4 Mayflower Avenue Hemel Hempstead Herts HP? 4AB Denmaur Independent Papers 669 99 Paper Mews Bournciete House Bonham Drive Sittingbourne, Kent ME10 3RY Eagle Tapes 265 50 Eagle House 38-40 Village Road Bromham Bedfordshire MK43 8LL Elliott Banter & Company Limited 14,562 60 Central Way Feltham Middlesex TW14 ORX Erapa UK Ltd 21 60 Pakrap House 128 High Town Road Luton Bedfordshire LU2 0DJ DACORUM PRINTING SERVICE LIMITED Film & Fotl Solutions Ltd £ 186 90 North Florida Road Haydock Industrial Estate Haydock WALI 9UB FPL Print Ltd £ 1,290 00 Parkside Park Road Rickmansworth Herts, WD3 [HU Frank Smith Consulting £ 456 00 147 Springfield Close Andover Hampshire SP10 2QS Freshway Management Services Lid £ 302 00 Redhills Farm Harlington Road Toddington Dunstable LUS 61F Gemini £ 2,184 00 ta Water End Road Potten End Berkhamstead HP4 2SH GM Press Lid £ 11,745 60 21 Water End Road Potten End Berkamstead Herts HP4 2SH Hewtett Packard Indigo PV £ - 26,539 16 Startbaan 16 (187 XR Amsterdam The Netherlands Houghton Insurance Bureau £ 3,450 00 Anglia House, 78 High Street Houghton Regis Beds LUS 5BJ Jav Controls & Systems £ 3,834 00 25 Mansell Road Wellington Telford TFL 1Q0Q DACORUM PRINTING SERVICE LIMITED Lea Boxes Limited 208.90 38 Camford Way Sandon Park Luton LU3 3AN LSG Litho 14,766 29 Unit 8 Moor Park Industrial Estate Tolpits Lane Watford Hertfordshire WD18 9SP McKinleys Group 1,291 83 St Andrews House Shire Hill Saffron Walden Essex CBI 3AU Orange Frog Design 2,434 80 22 Bewdley Close Harpenden Herts ALS 1QX Ovenden Papers Ltd 1,915 70 Swordfish House Bower Hill Epping Essex CMI6 7AQ PCS Logistics Limited 3,203 77 Unit 7 Phoemx Business Centre Higham Road Chesham Bucks HPS 2A] Premier Paper Group Ltd 4,666 65 Credit Controt Midpoint Park, Kingsbury Road Minworth Birmingham B76 1AF Presco UK Ltd 2,070 48 Kiln Lane Swindon SN2 2NP RF Print Engineering Services Ltd 218 40 Fyfield Lodge Common Lane Kings Langley Herts WD4 9HP DACORUM PRINTING SERVICE LIMITED Rodney D Hart 42 00 42 Hempstead Lane Potten End Berkhamsted HP4 2SD Royal Mail, FREEPOST NAT 15921 465 14 Finance Service Centre Royal Mat! Group Ple Papyrus Road, Werrington Peterborough PE4 SBR Sakurai Graphic Systems Corporation Cherrywell House Tamian Way Hounslow Middlesex TW4 6BL Sarratt Office Supplies Limited 263 72 59-61 High Street Kings Langley Hertfordshire WD4+4 9HU Screwfix - Trade UK Account 7138954 135 37 Selectapost 28 Sheffield S97 3GE Scribes Pitnt Finishes Ltd 1,268 40 Unit 14, Greenshield Industrial Estate Bradfield Road London E16 24X Service Offset Contracts Rebate Account 15,850 70 Oakwood Hill Industital Estate Oakwood Hill Loughton Essex IG10 3TZ Service Offset Contracts DD Account $5,655 60 Oakwood Hill Industrial Estate Oakwood Hill Loughton Essex 1G10 3TZ Service Offset Supplies Limited 25,324 15 Oakwood Hill Industrial Estate Oakwood Hill, Loughton Essex 1G10 3TZ DACORUM PRINTING SERVICE LIMITED Sharedband Ltd 72.00 40 Princess Street Ipswich Suffolk IP] 1R} Tabbers 36 84 Umt 10, Coldharbpur Pinnacles Estate Lovet Road Harlow Essex CM19 SJL Team Global Express & Logistics §,192 22 Units l-4 Brittanta Industrial Estate Poyle Road Colnbrook Berkshire SL3 OBH The Paper Company Ltd A1718 7,503 87 Cash Ailocation Department Huntsman House Mansion Close, Moulton Park Northampton NN3 6LA The Paper Company Ltd A4693 6,633 51 Cash Allocation Department Huntsman House Mansion Close, Moulton Park Northampton NN3 6LA The Paper Company Ltd TA4284 2,839 52 siccounts Recetvable Department Huntsman Flouse Manston Close, Moufton Park Northampton NN3 6LA The Paper Company Ltd TA4377 2,400 71 Accounts Recetvable Department Huntsman House Mansion Close, Moulton Park Northampton NN3 6LA The Paper Company Ltd Gov A/c A6935 904 Accounts Receivable Department Huntsman House Mansion Close, Moulton Park Northampton NN3 6LA TID Cutter Makers 1,908 00 1 Wadsworth Close Greenford Middlesex UB6 7JF DACORUM PRINTING SERVICE LIMITED UK Mai! Limited £ 3,661 73 Express House 120 Buckingham Avenue Slough SLI 4LZ Upton Wilson Limited £ 756 02 3 West Street Leighton Buzzard Bedfordshire LU7 1DA Vacuumatic £ 153 67 8 Brunel Way Colchester Essex CO4 9QX VPRESS £ 960 12 Church Mews Church Street Cheltenham GL50 3HA Mr David Hawkridge Director’s Loan Account £ 46,593 21 Penzance Valley Road Studham LU6 2NN Mr Terry Hawkridge Director's Loan Account £ 4,915.20 8 Windmill Road Hemel Hempstead Hertfordshire HP2 4B Mr David Stride Durector’s Loan Account £ 4,000 00 76 Tumptke House Goswell Road London ECIV 7PD Mr Andrew Green Employee’s Unsecured Clam £ - 195 Waveney Heme! Hempstead HP2 SEU Mr Phillip Jefferson Employee’s Unsecured Claim £ 4,830 00 33 Springfield Avenue Hemel Hempstead HP2 SEH DACORUM PRINTING SERVICE LIMITED Mr John Bracegirdle Employee’s Unsecured Claim £ 328 78 56 Slummons Drive St Albans Herts AL4 9AP Ms Maxine Carine Employee’s Unsecured Claim 1,195 00 20 Chesham Road Bovingdon Hemel Hempstead HP3 OED Mr Russell Conway Employee’s Unsecured Claim 4,022 66 9 Corncrake Close Stopsley Luton LU2 8EL Mrs Dianne Guest Employee’s Unsecured Claim 4,547 63 77 Holly Drive Aylesbury Bucks HP21 8TZ Mrs Kelly Hawkridge Employee's Unsecured Claim 8.374 23 8 Windmill Road Hemel Hempstead HP2 4BJ Mr Terry Hawknidge Employee's Unsecured Claim 14,766 11 8 Windmill Road Hemel Hempstead Hertfordshire HP2 4BJ Mr David Hawkridge Employee’s Unsecured Claim 16,973 53 Penzance Valley Road Studham LU6 2NN Mrs Jean Hawkridge Employee's Unsecured Clarm 3,023 55 Penzance Valley Road Studham LU6 2NN Mrs Nicola Martin Employee’s Unsecured Claim 6,179 90 8 Haleswood Hemel Hempstead HP2 4QT DACORUM PRINTING SERVICE LIMITED Mr Aldo Meccarietlo Employee’s Unsecured Claim £ 3,77609 8 Hitchens Close Hemel Hempstead HPI 2PP Mr Tan Mooney Emptoyee’s Unsecured Claim £ 6,083 30 87 Stopsley Way Luton Beds LU2 7UU Mr David Stride Employee's Unsecured Claim £ 7,989.42 76 Turnptke House Goswell Road London EC1V 7PD Mrs Elaine Stride Employee’s Unsecured Claim £ 2,919 64 76 Turnpike House Geowell Road London ECIV 7PD Mr David Tustain Employee’s Unsecured Claim £ 7,071 48 23 Nightingale Close Luton Beds LU2 8EZ Total Non-preferential Creditors £ £ 410,133.90 GRAND TOTAL £ 917,247.45 NB: Retention of Title clams have been received from a number of creditors which will be dealt with by the duly appointed Liquidators No account has been made for the same m the figures above DACORUM PRINTING SERVICE LIMITED 6 SHAREHOLDERS David Michael Hawkridge 51 ordinary share @ £1 00 5100 Penzance Valley Road Studham LU6 2NN Jean Ann Hawkndge 19 ordinary shares @ £1 00 19 00 Penzance Valley Road Studham LU6 2NN Terry Hawkndge 15 ordinary shares @ £1 00 15 00 8 Windmill Road Hemel Hempstead Hertfordshire HP2 4BJ David Stride 15 ordinary shares @ £1 00 15 00 76 Turnpike House Goswell Road London EC1V 7PD Total 100 00