Rule 4.34 -CVL The Insolvency Act 1986 Form 4.20 S.95/99 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 Name of Company | 03452601 | Sortcomm Limited We, Kevin Murphy Richard Toone Russell Square House Russell Square House 10-12 Russell Square 10-12 Russell Square LONDON WCIB 5LF LONDON WCI1B S5LF the liquidator(s) of the above-named company attach a statement of the company’s affairs as at 29 April 2010 Signed Kevin Murphy Richard Toone Dated 29 April 2010 Chantrey Vellacott DFK LLP Russell Square House 10-12 Russell Square, LONDON WC1B SLF Ref KAM/MK/BC/MH For aa Use Insglyency Sect PostRoom___ | IAM 05105201 ° COMPANIES HOUSE Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of Sortcomm Limited on the 29th day of April 2010 being a date not more than 14 days before the date of the resolution for winding up Statement of Truth { believe that the facts in this Statement of Affairs are true Full Name Keith Taylor Signed {WA ; KE : Dated 2¢/ 2 L410 Sortcomm Limited A- Estimated Statement of Affairs as at 29 April 2010 NBV Notes Draft Estimated Accounts to to Realise 31-Dec-08 £ ASSETS Sale consideration re Bancomm Limited 1 400,000 110,000 Cash at bank 20,193 nil 420,193 110,000 Assets available to Preferential Creditors 110,000 PREFERENTIAL CREDITORS Employee claims Surplus/(Deficiency) avatlable to unsecured creditors 110,000 UNSECURED CREDITORS HM Revenue & Customs - possible CGT liability 3 90,138 Intercompany loans - BNB Recruitment Solutions Pic 4 202,000 (292,138) Surplus/(Deficiency) as regards Unsecured Creditors (182,138) ISSUED AND CALLED UP SHARE CAPITAL Share capitat 100 (100) Surpius/(Deficiency) as regards Members (Subject to the costs of Winding-Up) (182,238) Signed WA « ¢ Date 21[¢[r1» Sortcomm Limited Notes to the Statement of Affairs 1 Sale consideration - Banncomm Limited Sortcomm Limited owned 80% of Bancomm Limited (another BNB Group Company) which was sold to Garner in December 2008 hence the deferred consideration payable in the sum of £400 000 The estimate to realise figure has been given in the sum of £110,000 as Gamer are currently in finiancial difficulties and not able to make payment in full 2 Cash at bank Sortcomm Limited’s bank account was closed and the balance transferred to MGMS international Limited ("MGMS ') in mid 2008 At closure the Company transferred its rematning debtors and creditors to its sister company MGMS which collected the debtors and Paid off the Company's creditors 3 HM Revenue & Customs - possible CGT tabiltty The Company has not filed a Corporation Tax return for the penod ended 31 December 2008 following the sale of Bancomm Limited shares Therefore there 1s a potential lability te HMRC in respect of CGT following the sate of the Bancomm Limited shares to Garner Pic which is estimated at 28% of the £321,920 profit on the sale of the investment as noted in the 2008 draft accounts 4 intercompany loans - BNB Recruitment Solutions Pic This represent the amount due from the Company to BNB Recruitment Solutions Pic per the draft accounts to 31 December 2008 WY bO TT 0102/b0/8z og'Zet'z6z_ 000 00'0 6o'o 00°0 00°0 000 ooo 09 Let ‘Z6z yeyOL pues 09 Z€1'262 000 00.0 000 00.0 000 000 000 09 Z£1'262 “SYOLIGIYD GINNDISNN TWLOL 09 ZE1'262 000 00.0 00.0 000 000 000 000 09 ££1'262 asuadx] pue eped) .paunsesun je3oL 09 ££1'06 000 000 000 000 000 000 000 09 ZE1'06 swoysn) anuanay WH 00 000'z0z 000 000 000 000 000 000 000 00 000'z02 vorjepinbr uy - 2g SuONN}OS IuAWNNaY ENG suoudayo aSN3dX3 GNV 30vuL a3uNdaSNN anyjea joque> Surureway paqnquysig pisuo} sapun = paypelay paqwpy pawie)> pasiapy vos SuoLIdgayud aayundasNnn (iv ‘481114) OT02/p0/92 3 Se SadA] WieID soNpPasD PaDe[as pay] wWWO0DH0S - ZGOZZLUOS *edAL wHeEID Aq Gurysi7 soWpaID Wd 82 2 O102/p0/L2 I abeg p /é2 aed > WW aameubis ©) me 00 00T 41S STIM NOGNOT 31S 819M NOGNOT Aeulplo auenbs |lessny ZT-OT ano} asenbs |jassMy dT Nd WOIeI!9A Aaqueyd of 1d SNOLLNIOS LNAWLINUDIY &N8 00 O0T 00 00T oor WF PI9H Sazeys (apooqsod yim) ssauppy Jaployaueys jo aweN anjea dn payie> PIPH SseYS =F B1eYS JeuiwON e1eys Jad gouoqunN jo UNowy joodAy Aseurpa P40 qunowy JeUILWON PaPWIT WWOIPIOS - TGOZZLUOS :/!€38q Aapjoysaseys