Form 4.20 Rule 4.34-CVL The Insolvency Act 1986 Statement of Company’s Affairs . Pursuant to Section 95/99 of the Insolvency Rules 1986 For Official Use To the Registrar of Companies Company Number [ 02979760 | Name of Company Insert full name of Image Business Systems (UK) Limited T/A Image Audio Visual Solutions company insert full name | Anthony Harris and address Critchleys Greyfriars Court Paradise Square Oxford OX1 1BE the liquidator(s) of the company attach a statement of the company's affairs as at 5 May 2011 Signed Wize Date _5 May 2011 Presenter’s name, IM605 == For Official Use mung address and reference Liquidation Section Post Room Anthony Harris SATURDAY OX1 1BE 07/05/2011 COMPANIES HOUSE Rule Statement of Affairs Form 4.19 4.34-CVL Statement as to affairs of Image Business Systems (UK) Limited T/A Image Audio Visual Solutions on 5 May 2011 being a date not more than 14 days before the date of the resolution for winding up Statement of truth I believe that the facts stated in this Statement of Affairs are true. Full name Anintéh) Jo th! Fegan) Signed AR ses Date rls] if Insolvency Act 1986 Image Business Systems (UK) Limited T/A Image Audio Visual Solutions Estimated Statement Of Affairs as at 5 May 2011 Book Value Estimated to Realise £ £ £ ASSETS Book Debts 47,770 00 24,046 00 Lloyds TSB Factors 4,512 00 1,512 00 Surplus c/d 25,558 00 Vauxhall Movano 5,000 00 4,000 00 Lloyds TSB Commercial Finance (7,417 00) (7,417 00) Deficiency c/d (3,417 00) Furniture & Equipment 10,256 00 1,500 00 Motor Vehicles 1,377 00 1,500 00 Stock 25,947 00 4,000 00 Goodwill 6,750 00 NIL Director's Loan 185 00 185 00 Cash tn Hand 4,800 00 4,800 00 Surplus b/d 25,558 00 37,543 00 UABILITIES PREFERENTIAL CREDITORS - Employees 3,079 00 Directors 1,842 30 4,921 30 32,621 70 DEBTS SECURED BY FLOATING CHARGE PRE 15 SEPTEMBER 2003 OTHER PRE 15 SEPTEMBER 2003 FLOATING CHARGE CREDITORS NIL 32,621 70 Estimated prescribed part of net property where applicable (to carry forward) NIL 32,621 70 DEBTS SECURED BY FLOATING CHARGE POST 15 SEPTEMBER 2003 NIL 32,621 70 Estimated prescribed part of net property where applicable (brought down) NIL 32,621 70 Unsecured non-preferential claims (excluding any shortfall to floating charge holders) Deficiency b/d 3,417 00 Trade & Expense Creditors 59,113 36 Employees 15,244 21 Directors 35,872 94 Director's Loan 615 00 Page 1 of 2 03 May 2011 15 26 Insolvency Act 1986 Image Business Systems (UK) Limited T/A Image Audio Visual Solutions Estimated Statement Of Affairs as at 5 May 2011 Book Value Estimated to Realise £ £ £ Banks/Institutions 21,410 69 Premises Licence 3,590 00 PAYE/NIC 20,238 96 VAT 5,008 07 Lease / Hire Creditors 162 00 Corporation Tax 19,301 60 183,973 83 Estimated deficiency/surplus as regards non-preferential creditors (excluding any shortfall in respect of F C's post 14 September 2003) (151,352 13) (151,352 13) Issued and called up capital Share Premium 9,000 00 Ordinary Shareholders 4,000 00 10,000 00 TOTAL SURPLUS/(DEFICIENCY) (161,352 13) Page 2 of 2 03 May 2014 15 26 Image Business Systems (UK) Limited T/A Image Audio Visual Solutions - Notes To The Estimated Statement Of Affairs The inclusion of any claim does not constitute an admittance of the debt All claims are subject to formal adjudication The above estimates are subject to the expenses of the liquidation and the expenses of realisation The bank has a personal guarantee from the directors of the company The factoring company has a fixed and floating charge dated 29 September 2009 over the company’s assets, however current information suggests that the factors are not owed money by the company The asset valuations are the directors’ estimates, and no professional valuation has been obtained Book debts have been written down based on age as follows - < 60 days 35% < 90 days 50% > 90 days 80% The cash in hand of third parties relates to funds received in relation to the sale of the goodwill and on-going contracts Funds are held by Critchleys in a designated client’s account PAYE/NIC 1s outstanding for the months October 2010 to date VAT ts outstanding for the period December 2010 to date 10 The company occupied premises under a licence agreement that 1s due to expire in November 2011 11 The amounts owing preferentially and non-preferentially to the directors and employees relate to arrears of wages, pay in lieu of notice, holiday pay and redundancy 92 St Loz Aew €0 OL02 48A 10S Sdl Z40 | abey ° aimeubis 00 089'L AOS PLN ‘Iuay ‘syequenasg peoy POO ‘Wed Ssauisng UONOaUUOD | Ay-oosadey 004d 00 8¢2't NSO Zw ‘aulyspag ‘Buipeey ‘peoy ay e-1 gun pr 09Sd odd be 8€9 S1S BLIND ‘x@SSq ‘MOLE ‘SA}IBULIG BY! 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