2 Form 4 20 Rule 4 34-CVL The Insolvency Act 1986 5.95/99 Statement of Company's Affairs Pursuant to Section 95/99 of the Insolvency Act 1986 To the Registrar of Companies Company Number 03358881 Name of Company {a) insert full name of company (a) Cougar Lubrication Limited (b) Insert full name(s) _ Richard Rones _ and address(es) Of ~ ThorntonRones Limited 311 High Road Loughton Essex {G10 1AH (c) Insert date the Liquidator of the above named Company attach a statement of the Company's affairs as at 15 January 2015 Signed Date Ve —_ Presenter's name, CVL320A/RJR/RC/SS/C222/0602 address and reference (if For Official Use any) Robert Cogan Liquidation Section Post Room ThomtonRones Limited 311 High Road Loughton Essex 1G10 1AH i | THURSDAY 22/01/2015 # COMPANIES HOLISF Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of. COUGAR LUBRICATION LIMITED On 15 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 15 January 2015 Full name Tconmn Ganes Caucnna TO sqne ~ AON NN _ SO Dated \S lon \\s . COUGAR LUBRICATIONS LIMITED ESTIMATED STATEMENT OF AFFAIRS AS AT 15 JANUARY 2015 Notes Book Value Estimated to Realise £ £ Assots Specifically Pledged - Goodwill ta) 6 000 = Less Debenture from Susan Coleman (45,000) (45,000 Surptus/Defiert (45 000) (39.000) Assats not Specifically Pledged - Plant & Machinery 24 194 4,800 ew Stock 109 822 44 400 Fodtures & Fittings > 1200 - 4 260 , hue IT & Office Equipment Debtors 40 000 25 000 Surpius/(Deficit) to Preferential Creditors 174 016 79 660 Preferential Creditors Employees Claims (3 200) (3 200) Surplus/(Deficit) available to Floating Charge Holder 170 816 76,460 Debenture from Susan Coleman - Brought Down (45 000) (39 000) Surplus/Deficit avallable to unsecured creditors 125 816 37 460 Unsecured Creditors - Trade and Expense Creditors 69 616 69 616 Barclays Bank Plc - Overdraft 4000 4,000 Bageons Loan from Ex-Wife= Susan Coleman — 7 — 52000 — —- - §2000- - — Personal Pension - Ronald Coleman 15 000 15 000 HM Revenue & Customs - PAYE 3251 3,251 HM Revenue & Customs - VAT 3 006 3 006 Employees Claims - Redundancy & PILON uncertain uncertain (146 873) (146 873) Shortfall to Fixed and Floating charge holder Estimated deficiency as regards unsecured creditors (21,057) (109 413) issued and Called up Capital - 50 000 Ordinary Shares of 1 pound each (50,000) 500 Ordinary B Shares of 1 pound each (500) Estimated total deficiency as regards members 189,913; weal \W\non pate ¥> JON WS — Ronald Coleman Al COUGAR LUBRICATIONS LIMITED NOTES TO THE DIRECTOR'S STATEMENT OF AFFAIRS. AS AT 15 JANUARY 2015. Goodwill ‘These intangible assets have been subject to an independent valuation by Messrs Agencite Limited its from this valuation that the Estimated Realisable Value has been derived Debenture from Susan Coleman Susan Coleman provided a loan to the Company and holds a fixed and ficating charge debenture dated Apnl 2000 As the debenture was created before the Enterpnse Act 2002 ( before 15 September 2003) the precribed part rules do not apply in this instance Plant & Machinery The Tangible assets have been subject to an mdependent vatuation by Messrs Agencite Limited itis frorn thes valuation that the Estmated Realisable Value has been derived Stock The Tangible assets have been subject to an independent valuation by Messrs Agencite Limited It ts from this valuation that the Estimated Realisable Value has been denved Fixtures & Fittings The Tangible assets have been subject to an independent valuation by Messrs Agencite Limited It ts from this vatuation that the Estmated Realisable Value has been denved IT & Office Equipment The Tangible assets have been subject to an independent valuation by Messrs Agencite Lirmted It 1s from this valuation that the Estimated Realisable Value has been denved Debtors The Book Value and Estimated Realisable Value have been provided by the Director A ante down provision of 50% has been applied tothe realisable — — — — . value of the book debts in order to account for potential bad debts and/or disputes. Employees Ctaims 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 holiday1s preferential which means that these amounts have to be settled prior to any other unsecured clams Any remairung claim ranks equally with all other unsecured creditors. Trade and Expense Creditors A hst of the trade and expense creditors ts attached as Appendix B Barclays Bank Plc Barclays provided the Company with an overdraft facility which 1s personally quaranteed by the Director Loan Ex Wife Susan Coleman Funds which were imected into the Company during the Company's trading history HM Revenue & Customs - PAYE This relates to the PAYE due for the two month ending December 2014 10 4M Revenue & Customs - VAT This retates to the VAT due for the final quarter ending December 2014 1 H M Revenue & Customs - Corporation Tax This relates to the Corporation Tax due for for the period 2013/14 12 Fees and Expenses tn preparing 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 £6 500 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 uewe}oD pleuoy ~~ ; \ rot, ainjeubig Ss ro(sy aieq b9 228 OFL f fe}o). 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