FORM 4.20 Rule 4 34-CVL romaenerras Statement of Company's WPOSIO Affairs Pursuant to Section 95/99 of the Insolvency Act 1986 For Official Use To the Registrar of Companies Company Number 02567608 Name of Company SHORT STORIES OF LONDON LIMITED I Mehmet Arkin of MAPLE HOUSE HIGH STREET POTTERS BAR HERTS EN6 5BS the Liquidator of the above named company attach a statement of the Company's affairs as at 20 April 2011 Signed . Date 20 Aon! 2011 ARKIN & CO For Official Use MAPLE HOUSE Liquidation | Post Room HIGH STREET POTTERS BAR HERTS EN6 5BS Ref M180SH/MA *AL2DKTH4* A45 21/04/2011 214 COMPANIES HOUSE Section 98 Statement of Affairs IA 1986 Insolvency Act 1986 In the MATTER OF SHORT STORIES OF LONDON LIMITED Statement of Truth | believe that the facts stated- a) inthis Statement of Affairs, and b) inthe continuation sheets, are true Full name TONe ect Soumen Signed Dated ae tt - Deu INSOLVENCY ACT 1986 SHORT STORIES OF LONDON LIMITED Estimated Statement of Affairs as at 20 Apnl 2011 Notes Book Value Estimated to Realise £ £ £ ASSETS Stocks 1 22,000 00 7,000 00 Fixtures, Fittings & Equipment 2 1,300 00 1,000 00 Cash at Bank 3 460 00 200 00 Trade Debtors 4 2,705 00 800 00 9,000 00 LIABILITIES PREFERENTIAL CREDITORS - Nil 9,000 00 Estimated prescnbed part of net property where applicable (to carry forward) 5 Nil 9,000 00 DEBTS SECURED BY FLOATING CHARGE Nil 9,000 00 Estimated prescnbed part of net property where applicable (brought down) Nil 9,000 00 Unsecured non-preferential claims {excluding any shortfall to floating charge holders} HM Revenue & Customs - PAYE/NI 6 3,027 00 HM Revenue & Customs - VAT 7 3,099 00 Directors’ Loan Account 8 12,950 00 Trade & Expense Creditors 9 15,449 00 34,525 00 Estimated deficiency/surpius as regards non-preferential creditors 25,525 00 (excluding any shortfall to floating charge holders) Issued and called up capita! 70 Ordinary Shares @ £1 each 70 00 70 00 25,595 00 Signed T Sonmez SHORT STORIES OF LONDON LIMITED Notes to Director's Estimated Statement of Affairs Stocks comprised various mens clothing and footwear and have been valued by Centaur Chartered Surveyors, Valuers & Auctioneers, Centaur House, 51 Uckfield Road, Enfield, Middlesex EN3 6AS The Company's fixtures, fittings and equipment comprised mainly wall mounted and free standing aisle railings and tills which have been valued by Centaur Chartered Surveyors, Valuers & Auctioneers, Centaur House, 51 Uckfield Road, Enfield, Middlesex EN3 6AS Cash at bank represents the credit balance on the Company's current account with Natwest Bank pic The credit balance will be subject to accrued charges Realisations from trade debtors are anticipated to be low as the debts are disputed and aged Section 176A (1)(a) requires liquidators to set aside the prescribed part of the Company's net property for the satisfaction of unsecured debts "Net property" means the | amount which would, if tt were not for this provision, be available to floating charge holders (1 e | after accounting for preferential debts and the costs of realisation) and if the floating charge was | created on or after 15 September 2003 The "prescribed part" is 50% of the first £10,000 and 20% of the remaining net property (up to a maximum of £600,000) The liquidator will not be required to set aside the prescribed part if a The net property is less than £10,000 and he thinks that the cost of distributing the prescribed part would be disproportionate to the benefit, or b If the net property is more than £10,000, if the provision is dis-applied by the Court on the application of the liquidator on cost-benefits grounds If the floating charge was created before 15 September 2003 there is no net property and, consequently, no prescribed part of net property The amount due to HM Revenue & Customs ts in respect of a PAYE and NI due in the year ended 5 April 2011 The amount due to HM Revenue & Customs Is in respect of VAT from January 2011 to March 2011 The directors’ loan account has accrued as a consequence of the directors’ injectton of capital into i the business Creditors’ claims are subject to agreement by the liquidator and will not be preyudiced by omission from the Statement of Affairs or by inclusion in a different amount from that claimed 10 The estimated total deficiency, including the calculation of the prescribed part (if any), 1s subject to the costs of winding up for which no provision is made In the statement of affairs J0yasIg - Zounuog foun 1 89 8bb'sl BE 9E dX! 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