Rules 434-CVL —— The Insolvency Act 1986 Form 4.20 Statement of Company's Affairs 2 Pursuant to Section 95/99 of the Insolvency Act 1986 For Official Use To the Registrar of Companies Company Number ‘| 03422352 ] Name of Company (a) Insert fullname of | (a) Wideopen Service Station Limited _- company (b) Insert full name(s) — We, (b) Anthony Josephs , Linda Farish a and address(es) Gosforth Park Avenue Gosforth Park Avenue Newcastle upon Tyne NE12 8EG Newcastle upon Tyne NE12 8EG the Liquidators of the above, named company, attach a statement of the company's affairs (c) Insert date as at (c) 03 March 2015 Signed He lr. p Date S315 Presenter’s Anthony Josephs : Toomer wees name, address Linda Farish and reference (if ©= RMT Accountants & Business Advisors any) RMT, Gosforth Park Avenue x Newcastle upon Tyne NE12 8EG g LW7000 2 © 051032015 COMPANIES HOUSE — Rule 4 34-CVL Form 4 19 Statement of Affairs WIDEOPEN SERVICE STATION LIMITED ~ Statement as to affairs of Wideopen Service Station Limited on the 3rd day of March 2015 being a date not more than 14 days before the date of the resolution for winding up = _// Statement of Truth vA | believe that the facts stated in this Statement of Affairs are true Full Name Mr Michael James Fozard Signed —— =~ a Dated &- oa) _ Signature. Date t 7-5 : A - SUMMARY OF ASSETS Book Value Estimated to Realise £ £ Assets Subject to Specific Charge Assets Subject to Fixed Charge Financed Vehicle 17,739 10,000 Less Amounts Owing to Lombard North Central pic (13,327) (13,327) 4,412 (3,327) Assets Subject to Floating Charge Cash at Bank 2,088 2,088 Cash on Hand 677 677 Debtors (Pre-Appointment) 14,332 9,813 Freehold Property 8,879 0 Furniture, Fixtures and Fittings 3,804 535 Goodwill 11,550 0 Motor Vehicles 4,033 6,000 Plant and Machinery 8,012 2,850 63,375 21,963 Assets not Subject to Charge Available to preferential creditors 57,787 21,963 Signature. Date &- 3% a) A1 - SUMMARY OF LIABILITIES Estimated to Reahse £ £ Estimated total assets available for preferential creditors 21,963 Luabilities Wages (2,873) Holiday Pay (8,578) (11,451) Estimated Surplus (Deficiency) as regards preferential creditors 10,512 Estimated total assets available for floating charge holders 10,512 Floating Charge Claims (95,468) Total assets available to unsecured creditors NIL Unsecured non-preferential claims Associated Creditors (70,441) Deficiency in Fixed Charge (b/d) (3,327) Deficiency in Floating Charge (b/d) (84,956) Employees (52,849) HM Revenue and Customs (103,533) Trade and Expense Creditors (105,851) (420,957) Estimated Surplus (Deficiency) Unsecured creditors (420,957) Share Capital Ordinary (100) (100) Estimated Surplus (Deficiency) as regards members (421,057) Signature. 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SHAT IOHAYVHS 9 Wideopen Service Station Limited NOTES TO THE STATEMENT OF AFFAIRS Secured Creditors The Royal Bank of Scotland were granted a debenture by the Company on 24 November 1997 (Registered 3 December 1997) creating a fixed and floating charge over the assets and undertaking of the Company Freehold Property The company operates from premises owned by the director This relates to alterations made to the premises which, for the purposes of the Statement of Affairs, have been written down to Nil The company’s tenancy will be investigated by the appointed liquidators Other Assets Cash in Hand This relates to funds received from debtors prior to liquidation and currently held in an RMT client account Book Debts Book debts have been written down by a specific provision of £2,095 to reflect known bad debts and the balance by a general provision of 20% Motor Vehicles, Plant & Machinery, Furniture, Fixtures & Fittings These assets have been professionally valued by our agents H & H James Sutherland Goodwill Goodwill had been written down to nil Cash at Bank This represents amounts held in a separate bank deposit account Preferential Creditors Wages/Holiday Pay This represents amounts due to employees in respect of wages arrears and accrued holiday pay which will be paid from the Redundancy Fund up to jhe Statutory limits prescribed and also includes employee claims in excess of statutory ‘Prescribed Part’ Under the provisions of the Enterprise Act 2002, introduced on 15 September 2003 the preferential status of the Inland Revenue and Customs & Excise has been abolished As a consequence of this a “prescribed part” of the Company’s assets must be set aside for the benefit of the unsecured creditors In respect of any floating charge security granted after 15 September 2003 The prescribed part Is calculated as follows - e 50% of the first £10,000 of the net property of the company if the net assets are in excess of the £10,000 e 20% of the property thereafter, subject to a lima of £600 000 The prescribed part tn this matter Is estimated at £ NIL as the floating charge pre-dates 15" September 2003 10 Non Preferential Creditors Employees’ Claims This represents amounts due to employees under the Employment Rights Act 1986 in respect of redundancy and compensation for failure to receive statutory notice and payable to prescribed limits by Department for Business Innovation & Skills (“BIS”), together with claims for redundancy and payment in lieu of notice in excess of statutory limits prescribed by BIS H M Revenue and Customs Represents PAYE/NIC of £68,278 87 relating to underpayments from tax year 2013/14 together with outstanding payments from May 2014 to date VAT of £35,254 09 Is outstanding for four quarters from August 2013 to date This figure includes £3,373 54 in surcharges Associated Creditors This represents capital and other items introduced into the company by the director, Mr Fozard Trade Creditors Trade creditors are based on the books and records of the company at the date of liquidation and are stated inclusive of VAT Inclusion does not constitute an admission that there ts now or has been in the past any legal liability upon the company to make payment of the whole or part of the amount shown 41 The statement of affairs does not reflect the fees and expenses of administering the liquidation