Form 4.20 Rule 4 34 - CVL 395 The Insolvency Act 1986 Statement of Company's Affairs Pursuant to section 95/99 of the Insolvency Act 1986 For Official Use To the Registrar of Companies Company Number 03431830 Name of Company Philip Young & Son Limited |/We John Dean Cullen FCCA FABRP Coptic House 4-5 Mount Stuart Square Cardiff Bay CF10 5EE the liquidator(s) of the above named company attach a statement of the company affairs as at 30 January 2012 Signed Date 27 January 2012 Le Harris Lipman LLP Coptic House 4-5 Mount Stuart Square Ins Cardiff Bay CF10 5EE “AIIVKYOR* A2t o3/o2z2012 #104 Ref P3269/JDC/ARD COMPANIES HOUSE Software Supplied by Turnkey Computer Technology Limited Glasgow Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of Philip Young & Son Limited on the 30 January 2012 the date of the resolution for winding up Statement of truth | believe that the facts stated tn this Statement of Affairs are true Full Name Jared y] oO whe Signed is a Dated mA-y - 10 Philip Young & Son Limited Statement Of Affairs as at 30 January 2012 A- Summary of Assets Estimated to Assets Book Value Realise £ £ Assets subject to fixed charge: Motor Vehicles NIL 8,040 00 Lombard NIL (8,465 77) Assets subject to floating charge: Furniture & Equipment 1,204 00 NIL Motor Vehicles 4,308 00 1,125 00 Book Debts 7,966 00 7,966 00 Uncharged assets: Estimated total assets available for preferential creditors 9,091 00 Signature INN Date “Sa-\~ 4 L ar Philip Young & Son Limited Statement Of Affairs as at 30 January 2012 A1 - Summary of Liabilities Estimated to Realise £ Estimated total assets available for preferential creditors (Carried from Page A) 9,091 00 Liabilities Preferential Creditors - Employees Holiday Pay 1,892 00 1,892 00 Estimated deficiency/surplus as regards preferential creditors 7,199 00 Debts secured by floating charge pre 15 September 2003 Other Pre 15 September 2003 Floating Charge Creditors NIL 7,199 00 Estimated prescribed part of net property where applicable (to carry forward) NIL Estimated total assets available for floating charge holders 7,199 00 Debts secured by floating charges post 15 September 2003 NIL Estimated deficiency/surplus of assets after floating charges 7,199 00 Estimated prescribed part of net property where applicable (brought down) NIL Total assets available to unsecured creditors 7,199 00 Unsecured non-preferential claims (excluding any shortfall to floating charge holders) Employees 54,353 50 Directors 5,200 00 HM Revenue and Customs - PAYE & NIC 2,579 71 HM Revenue and Customs - VAT 10,000 00 72,133 21 Estimated deficiency/surplus as regards non-preferential creditors (excluding any shortfall in respect of F.C’s post 14 September 2003) (64,934 21) Estimated deficiency/surplus as regards creditors (64,934 21) issued and called up capital Ordinary Shareholders 200 200 Estimated total deficiency/surplus as regards members (64,936 21) Signature WN Date Ve s4- At y — 21 60 ZL0z Avenuer o¢ bLOZ JA 10S Sd 140 | abeg BU rwVVT 86'06r'78 Burjjey0) saunug py 00 682'9 Dar C949 ‘ueBowelg yyNog ‘Aueg ‘esowIW ¢g ‘ppAjeq ejue|s) Aajoyos welll OOMAa 00 929'ZL LVZ 949 ‘Auleg ‘uojxoped ‘yoo1gpiog ‘peoy uogje4 zg anes, ueydeys 00 002'S 00d] ZQL €949 ‘Aueg ‘preyBuuds ‘poyAq ymo ‘abeyod |1eg enig Buno, dijtug 00AD SZ S62'SL ZGL 6930 ‘Aueg ‘ployBuuds ‘payhq wma ‘abeyoo 118g enig Buno, aBi0a9 dijiud oovYy 00 ZLe'e DAL E940 ‘Auleg ‘enuaay sopeled | sey ined OOH3 Gz 252'€ ZO} £949 ‘Aueg ‘playBuuds ‘payAq Wag ‘eGeyo9 |Ieg enig Buno, Ajwy elegy OOAZ 000 UNE WZ ‘vopuc) ‘syeBsdoysig sey 1d yueg Ja}suijsayy jeuoyeN 22 $9¢'8 OOND BJIYSHIOA UNOS ‘WeYoujoY 'OZS xog Od plequioy 0019 00 p00'S LA6 2949 ‘Aueg ‘seinjsed aul LE sil ue| 0033 ZZ 864N ‘ouA] Uodr ayseomeny ‘Uo}UeqbuC7T LZ 62S'Z ‘Mala Wed UOJUaG SSNOH YVOMYeAA ‘ZOzEdg wooy uA Burpuey suelo Aouanjosu| SWOJSND Pue esnusrAay WH €6Z9 00 000'0L VP pl ‘joodJaary ‘yo0q susang ‘MN 1400/4 ple ‘Burjueg 3 jusweBeueyy jq9q SWOJSND pue snusAsy WH 2629 000 € ONIHLYOM 25606 XQ ‘89IYO juewadIojUy SWO}SND pue snuarsy WH 00 0 16Z0 8 NOLSNA 8zggrl Xd ‘sansa pue Aouaajosul SWO}SND pue anusAdy WH 06Z9D 00 Z2'8 NGL €949 ‘veBlowe|D yynos ‘Aueg 'peoy uejAg 2 afioag Aueg 0093 3 ssouppy aweNn Kay sloyipeig Auedwos - g peyu] uog gy Buno, dijlud dT) uewd7 suey St 60 ZL0z Avenuer oe 0102 J8A TOS Sdl Zz }J0 | ebeg VA 7K “Ke ~\ ainjeubig 4 Bumjeyol saujug 1. Zz 0) Zz 0 ZGL £940 ‘Aueg ‘pieyBuudg 'payiq yo ‘ebeyo9 |I8g enig Buno, dilug = OOVH je}joL 48410 PIO 21d ssoippy owen hay ssapjoyaueys - 9 paywir] uog g Buno, dijiyd D - Deficiency Account PHILIP YOUNG & SON LIMITED Notes £ Profit to the shareholders per the Company's financial 1 22,738 statements as at 31 March 2011 Asset Gains 2 8,040 Asset Write 3 (4,387) Downs Less Employee related claims which arose on Liquidation 4 (54,354) (Redundancy pay & payment in lieu of notice) Estimate profit / (loss) on trading for the period from 1 April 5 (36,973) 2011 to 18 November 2011 (8) Estimated deficiency as regards 6 (64,936) Members Notes: 1) This is the balance on the profit and loss account as at the date of the last filed financial statements It represents the cumulative profit/loss over the company's life 2) This 1s the amount that the company's assets have increased in estimated value by, compared with the last set of financial statements filed, being 31 March 2011 This asset increase is additional motor vehicles which were purchased tn July 2011 and are subject to finance with Lombard 3) This ts the amount that the company’s assets have decreased in estimated value by, compared with the last set of financial statements This ts the amount by which the motor vehicle has been written down by from its book value to its estimated to realise value 4) These are claims from members of staff which would not normally arise in the course of trading, only arise upon cessation of trade They are in relation to redundancy pay and payment in lieu of notice Qe Bery7 Yt 5) This is an estimated figure for the profit/loss in the final trading period since the last filed financial statements. In this instance it is the estimated loss for the 8 month period between the last financial statements and cessation of trade, being 1 April 2011 to 18 November 2011 6) This figure is the total Estimated Deficiency to Members taken from the bottom of sheet A1 - Summary of Liabilities 7) There is a fixed and floating charge in favour of National Westminster Bank PLC, 135 Bishopsgate, London, EC2M 3UR, which was created on 6 April 2004 and registered at Companies House 10 April 2004 It ts in respect of an overdraft facility granted to the Company This facility was personally guaranteed by Philip Young, the director and has been paid in full, leaving a nil balance at bank 8) The assets have been valued by Nicholas D’Alroy Westlake FRICS, by Hicks Day Jones Westlake, Property House, 14 Churchill Way, Cardiff, CF10 2DX 9) The book debts are stated after creditor contras. 10) The Statement of Affairs has been prepared from information provided by the director It does not take into account the cost of realisation of the assets or the cost of the liquidation 11) Trade and other creditors’ balances are provisional and subject to agreement in due course by the liquidator Inclusion or exclusion from the list of creditors does not constitute admission or rejection of claims by the liquidator 12) The statement of affairs ts subject to verbal explanations given at the meeting of creditors Prepared by HARRIS LIPMAN LLP Coptic House 4-5 Mount Stuart Square Cardiff Bay CF10 5EE