Rule 4 34-CVL The Insolvency Act 1986 Form 4 20 5.95/99 STATEMENT OF COMPANY'S AFFAIRS Pursuant to Section 95/99 of the Insolvency Act 1986 For official use Company Number 03071813 To the Registrar of Companies Company Number FRESHCHOICE LIMITED [Insert full name(s) and address(es)] | JM Titley and M Maloney the Joint Liquidators of the above named Company, attach a statement of the Company's affairs as at 5 December 2012 J = Signed Cat Date 5 December 2012 Presentor’s name, address and reference (if any) For official use Leonard Curtis Hollins Mount Hollins Lane Bury BLO 8DG For officiat use wana + SATURDAY 22/12/2012 #387 COMPANIES HOUSE Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of FRESHCHOICE LIMITED On the 5 December 2012 being a date not more than 14 days before the date of the resolution for winding up Statement of truth | believe that the facts stated in this Statement of Affairs are true -T. Full name Lad Mauanshrif cea Dated > (2-42 CVLMF419 06-04-10 o\ FRESHCHOICE LIMITED APPENDIX| DIRECTOR’S ESTIMATED STATEMENT OF AFFAIRS AS AT 5 DECEMBER 2012 Book value Estimated to Realise Note £ £ £ Assets specifically pledged Debtors 1 275,589 Less Bibby Financial Services Limited 4 (239,120) 105,366 36,469 Goodwill 2 Nil Leasehold Improvements 3 Nil 305,117 Nil Surplus / (Shortfall) as regards charge holder 410,483 36,469 Assets subject to finance Financed Vehicles 5 13,000 Less Amount due to finance company’s (29,021) Shortfall c/fwd - finance company (16,021) 410,483 36,449 Assets not specifically pledged Plant & Machinery Fixtures & Fittings 6 1,500 Office Furniture and Computer Equipment 7 1,000 Motor Vehicles 8 21,000 Stocks 9 3,500 52,000 27,000 462,483 63,449 Preferential creditors Employee claims / ERA 2006 claims (est } 10 (30,000) (30,000) Net property available for prescribed part 432,483 33,449 Less: Prescribed part calculation 1 (N/a) (Nia) Available for floating charge creditor 432,483 33,449 Shortfall as regards charge holder (Nil) (Nil) Surplus / (shortfall) - floating charge holder 432,483 33,449 Add back prescribed part Nia Nia Available for unsecured creditors 432,483 33,449 Ordinary Unsecured creditors Shortfall as regards finance company (16,021) Employee claims / ERA 2006 claims (est } 10 (60,000) Royal Bank of Scotland Plc (35,000) H M Revenue & Customs - PAYE / NI (est ) 12 (180,000) Trade and expense creditors (est ) 13 (641,524) Total value of unsecured creditors (924,745) (932,545) Total estimated deficiency as regards creditors (492,262) (899,096) Issued share capital (79) (79) Estimated deficiency as regards members (492,341) (899,175) af. Signed 18 December 2012 Mr lain Robert Mallanaphy FRESHCHOICE LIMITED APPENDIX II NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS All book values have been taken from the Company's latest financial information or from valuations obtained from independent valuers It should be noted that the no provision has been made for the costs of preparation of the same, the costs of convening the meetings of members and creditors, agents’ costs or the costs and expenses of the Liquidation 1. Debtors The book value of the debtors has been provided by the director from information in the Company books and records A general provision of 20% has been applied in respect of bad / doubtful debts The debtors are subject to an invoice discounting agreement with Bibby Financia! Services Limited 2. Goodwill The financial statements for the year ended 30 June 2010 show that Goodwill had a book value of £300k, for the purpose of this report the estimated to realise value has been shown as £Nil 3 Leasehold Improvements The book vatue of the leasehold improvements has been provided from information in the company’s books and records The leasehold improvements are estimated to have no realisable value 4 Bibby Financial Services Limited Bibby Financial Services Limited holds a fixed and floating charge created on 31 March 2006 and registered 1 Apnil 2006 5. Financed Vehicles The vehicles subject to finance are summansed below and are estimated to have no realisable value Make and Model Reg Finance Estimated Settlement Estimated Company to Realise Figure Shortfall £ £ £ Mercedes 311 LWB NH57SXL Equilibnum Finance 2,000 00 (5,916 72) (3,916 72) Ivec Daily 35S12 YJO8ZRX Singer Asset Finance 2,500 00 (2865 83) (365 83) Mercedes 313 LWB PFS9DNE ING 6,00000 = (14,243 97) (8,243 97) Mercedes Benz Spnnter KJO8WFB BNP Panbas 2,500 00 (5,994 65) (3,494 65) 13,000 00 29,021 17 16,021 17 jp Signed 18 December 2012 Mr lain Robert Mallanaphy FRESHCHOICE LIMITED APPENDIX Il NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS (cont } 6. Plant & Machinery, Fixtures & Fittings The Plant & Machinery, Fixtures & Fittings have been subject to an independent valuation performed by valuation agents (Charles Taylor), who have been instructed by the liquidators The book value and the estimated to realise value have been extracted from the valuation report for the purpose in the Statement of Affairs Save for fixtures to the building, the principal items are a large freezer / refngerated storage units, which remain in situ in the Company's former trading premises 7 Office Furniture and Computer Equipment The Office Furniture and Computer Equipment have been subject to an independent valuation performed by valuation agents (Charles Taylor), who have been instructed by the liquidators The book value and the estimated to realise value have been extracted from the valuation report for the purpose in the Statement of Affairs 8. Motor Vehicles The Motor Vehicles have been subject to an independent valuation performed by valuation agents (Charles Taylor), who have been instructed by the Iiquidators The book value and the estimated to realise value have been extracted from the valuation report for the purpose in the Statement of Affairs 9. Stock The Stock consisted of penshable, frozen and dry food and was sold on 6 December 2012 and the advice on independent agents Charles Taylor who then instructed to sell penshable items by the liquidators 10. Employee claims / ERA 2006 claims The Company had 30 employees who will be entitled to claim arrears of pay and holiday pay (subject to certain limits) from the Redundancy Payments Office (“RPO”) (a government department) The RPO will then lodge a preferential claim against the Company in respect of the payments it has made Preferental claims have been estimated at £30,000 for the purposes of the statement of affairs Employees will also be able to lodge redundancy claims and compensation claims as a result of not receiving statutory notice of redundancy with the RPO These claims will also be paid by the RPO (subject to certain limits), who will lodge an unsecured claim against the Company 1. Prescribed part The Insolvency Act 1986 provides that, where a company has created a floating charge after 15 September 2003, a prescnbed part of the company's net property must be made available to the unsecured creditors and not be distnbuted to the floating charge holder except in so far as it exceeds the amount required for the satisfaction of unsecured claims The method of calculating the prescnbed part is given below Where the net property does not exceed £10,000 50% of that property Where the net property exceeds £10,000 50% of the first £10,000, plus 20% of the property which exceeds £10,000, up to a maximum prescnbed part of £600,000 As the secured creditor is estimated to be repaid in full, tt is considered that there is no requirement to set aside a prescnbed part in this case Signed 18 December 2012 Mr tain Robert Mallanaphy FRESHCHOICE LIMITED APPENDIX I! NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS (cont) 12. H M Revenue & Customs - PAYE / NI The lability to HMRC in respect of unpaid PAYE, NIC and VAT has been extracted from the Company's books and records The outstanding liabilities are in respect of the following penods PAYE /NIC 2011/2012 VAT Nia (no lability for VAT) 13. Trade and expense creditors Details of the Company's trade and expense creditors have been extracted from the Company's books and records and provided by the directors A detailed list of these amounts has been provided at Appendix Hl The amounts shown should not be regarded as agreed f 4 Signed alta 48 December 2012 Mr lain Robert Matlanaphy FRESHCHOICE LIMITED APPENDIX III SCHEDULE OF CREDITORS See attached list Signed 18 December 2012 Mr lain Robert Mallanaphy B - Company Creditors Page 1 Code Name & Address Amount of Debt co001 AB Produce PLC £96 00 Enterprise House Westminster Industrial Estate Repton Road Measham DE12 7DT co002 Agritec International Limited £157 36 Sunnyside St Michael on Wyre Preston Lancashire PR3 OVA c0004 Amato Products £11,022 61 101 North Western Street Manchester M12 6JL C0005 Amdec Forklifts £1,144 00 Units 36-37 Broadway Globe Lane Dukinfietd Cheshire SK16 4UU C0006 AN Pennington £17,769 40 28-29 New Smithfield Market Whitworth Street East Manchester M11 2WP C0007 Ashton Refrigeration Company £1,849 60 106 Minto Street Ashton Under Lyne OL7 9DA co008 Autoaid Windscreens £372 00 Unit 8 Enterprise Centre Two Ford Street Stockport Cheshire SK3 OBR coo0g Auto-Tek Windscreens £506 00 Signatu Date F339Q B - Company Creditors Page 2 Code Name & Address Amount of Debt C0010 Axgro £1,190 27 Red House Farm West Butterwick Scunthorpe DN17 3JZ co011 Barton and Redman £150,580 30 Stall C6 and 7 New Smithfield Market Whitworth Street East Manchester M11 2WJ C0012 Bennetts £14,499 00 Derby Street Denton Manchester M114 2WS c0014 Berrymans Lace Mayer £1,090 00 C0015 Birchall Catering Supplies £8,087 52 Bently Wood Way Network 65 Business Park Hapton Burnley Lancashire BB11 5ST C0016 BNP Paribas £40 84 C0017 British gas £583 22 C0018 British Telecom £102 56 Signature Date F339Q B - Company Creditors Page 3 Code Name & Address Amount of Debt co019 Burbank Produce Limited £9,978 20 2 St James Market Bradford West Yorkshire BD4 7PW C0020 Chat Moss Herbs Limited £14,751 26 Barton Moss Road Eccles Manchester M30 7RL c0021 Mark Clegg £23,839 94 Cleggs Chilled Food Serice Blackburn Road Longridge Preston PR3 2YY c0022 Croft Material Handling £127 16 C0023 Davis France £2,231 50 Welton Vale House Welton le Wold Louth Lincolnshire LN11 0QT C0027 Dunsters Farm Limited £5,057 69 Waterfold Park Bury Lancashire BLS 7BR C0028 Eden Eggs £27,932 90 Castle Hill Farm Mill Lane Ringway Altrincham WA(15 ORE co029 Essential Cuisine £1,333 60 Browning Way Woodford Park Ind Estate Winsford Cheshire CW7 2RH Signature Date F339Q B - Company Creditors Page 4 Code Name & Address Amount of Debt C0030 Ferryfast Produce Limited £22,049 79 Ascot Road Pershore Worcestershire WR10 2JJ C0031 The French Garden Limited £7,381 10 C134-143 Fruit and Veg Market New Convent Garden London Swe 5JJ C0032 Fresh Island Foods £2,794 83 Unit 1 Parkhouse Lane Tinsley Sheffield S9 1XA C0034 Freshpak £9,024 47 Unit 1 and 2 Lodge Farm Willington Road Etwall Derby DE65 6NR C0036 Fylde Fresh and Fab Limited £24,836 80 Stanley Villa Farm Back Lane Weeton Preston PR4 3HS C0037 G and O Foods £555 40 C0038 WR & AK Halman £8,020 20 Woodlands Farm Northwich Road Cranage Nr Knutsford WA(16 SLD C0039 John Hensail Limited £75,860 65 New Smithfield Market Whitworth Street East Manchester M11 2WP Signature Date F339Q B - Company Creditors Page 5 Code Name & Address Amount of Debt C0040 Hopewalls Farm Foods £33,129 22 UnitA Third Avenue Poynton SK12 1YJ c0041 Hopwells Limited £9,323 09 Ringtail Road Burscough Ormskirk Lancashire L40 8JY C0042 House of Ethnic £66 00 Units 10-11 Poland Street Ind Estate 29 Poland Street Ancoats Manchester M54 6AZ C0043 Jaguar Press £1,101 60 61 Manchester Road Denton Manchester M34 2AF c0044 Richard Jones Produce Limited £57,762 30 C9 New Smithfield Market Whitworth Street East Manchester M11 2WW C0045 Keeley-Travis £862 41 Canal Side Lodge George Street Failsworth Manchester M35 9SBW C0047 LJ Accounting Services £512 50 C0048 Majic Merchants Limited £1,607 85 Hurds Garage Broomgrove Lane Denton Manchester M34 3DU oy signature Fo Date F339Q B - Company Creditors Page 6 Code Name & Address Amount of Debt C0050 MSK Ingredients Limited £157 91 PO Box 1592 Dronfield $18 8BR C0052 One Cost Limited £4,356 36 Stone Cross Place Stone Cross Lane North Lowton Warrington WA3 2SH C0054 Ptanet Produce Limited £11,587 64 Stoneford Lane Bretforton Evesham WR11 7GW C0055 Premier Fruits Limited £24,029 00 Units 6 7 and 8 Britannia ind Estate George Street Heywood Lancashire OL10 4PW C0056 PSL Limited £7,054 76 C0058 Quayside bakery £2,811 73 Unit A6 Lyntown Trading Estate Old Wellington Road Eccles M30 9QG C0061 scs £540 90 C0062 Seven Ways £9,722 71 Morfa Clwyd Business Centre Marsh Road Rhyl Denbighshire LL18 2AF Signature Date F339Q B - Company Creditors Page 7 1 Code Name & Address Amount of Debt C0063 Stockport MBC £14,124 00 PO Box 39 Stockport SK1 3FP C0064 System Hygiene £345 50 Altham Business Park Altham Accrington Lancashire BB5 5YT C0065 Thomson £4,435 50 Suite F 236-240 Fruit and Vegetable Market New Covent Garden Market London SW8 SWW C0066 Total Produce £4,862 90 D30 D33 New Smithfield Market Whitworth Street East Manchester M11 2wWw C0067 UK Fuels £8,264 07 In Fuel Limited Eurosales Centre Herald Drive Crewe Chesire CW1 6EG C0068 Bibby Financial Services Limited £239,120 00 3rd Floor 8 Princess Parade Princess Dock Liverpool L31 4DL C0069 Equilibrium Finance Limited £5,916 72 Equilibrium House Altrincham Road Wilmslow SK9 4LR C0070 Singer Asset Finance £2,865 83 8 Nelson Mandela Parade Glasgow G2 1BT Signatur Date F339Q B - Company Creditors Page 8 ‘ Code Name & Address Amount of Debt coo71 ING Lease UK Limited £8,243 97 60 High Street Redhill Surrey RH1 1NY C0072 BNP £5,994 65 Northern Cross Basing View Basingstoke Hampshire RG21 4HL C0073 HMRC £180,000 00 Durrington Bridge House Barrington Road Worthing West Sussex C0074 Redundancy Payments Service (pref) £30,000 00 Colbalt Square 83-85 Hagley Road Birmingham C0075 Redundancy Payments Service £60,000 00 Colbalt Square 83-85 Hagley Road Birmingham C0076 Royal Bank of Scotland £35,000 00 1 Romiley Precinct Romiley SK6 4EA TOTAL CREDITORS' CLAIM £1,208,665 29 Signature Date F339Q