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 03461691 To the Registrar of Companies Company Number ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) [Insert full name(s) and address(es)] | M Maloney and J M Titley the Joint Liquidator of the above named Company, attach a statement of the Company's affairs as at 16 February 2012 ‘ & 3 J = Signed cat Date Presentor’s name, address and reference (if any) For official use Leonard Curtis — i oo SATURDAY | COMPANIES HOUSE Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) on the 16 February 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 Fullname ~Tof ok ARIS Ckarsew Signed = Dated i of af Aor CVLMF419 06-04-10 ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) APPENDIX | DIRECTOR'S ESTIMATED STATEMENT OF AFFAIRS AS AT 16 FEBRUARY 2012 Book value Estimated to Realise Note £ £ £ £ Assets specifically pledged None Nil Nil less None {Nit} (Nil) Surplus / (Shortfall) as regards charge holder Nil Nil Assets not specifically pledged Debtors 23,737 3,780 Tangible Assets 1 Nil 23,738 3,780 Preferential creditors Employee claims / ERA 2006 claims (est } (1,000) (1,000) Net property available for prescribed part 22,738 2,780 Less: Prescribed part calculation (Nia) (Nia) Available for floating charge creditor 22,738 2,780 Shortfall as regards charge holder (Nil} (Nil) Surplus / (shortfall) - floating charge holder 22,738 2,780 Add back prescribed part Nia Nia Available for unsecured creditors 22,738 2,780 Ordinary Unsecured creditors Employee claims / ERA 2006 claims (est ) (2,000) (2,000) & rw Omen H M Revenue & Customs - PAYE / NI/ CT (25,333) (25,333) Directors Loan Account - Christopher Crowson (2,000) (2,000) NatWest Bank (7,000) (7,000) Trade and expense creditors (est } (252) (252) a Totat value of unsecured creditors (36,585) (36,585) Total estimated deficiency as regards creditors (13,847) (33,805) Issued share capital (360) (360) Estimated deficiency as regards members (14,207) (34,165) Signed 16 February 2012 FOWSON ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) APPENDIX II NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS All book values have been taken from the Company's latest financial information, or where stated, from valuations obtained from independent valuation agents 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 Debtors The book value of the debtors has been provided from information from the director and from information in the Company books and records The debtors have been written down by specific bad debt provisions of £16,178 and a general provision of 50% against the remaining balance Tangible Assets The book value of tangible assets has been extracted from the Company's balance sheet as at 31 January 2011, with no provision for depreciation having been applied for the period since that date, as the assets have already been written down in full The chattel assets are estimated to have negligible realisable value Preferential creditors The Company had 1 employee 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 tn respect of the payments it has made Preferential claims have been estimated at £1,000 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 Prescribed part As the Company has no unsatisfied post-Enterprise Act charges, there will be no requirement to set aside a prescribed part in this case The method of calculating the prescribed part s 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 prescribed part of £600,000 Based upon the information currently available, it 1s estimated that there will not be a prescribed part fund available in this matter H M Revenue & Customs — PAYE, NIC, Corporation Tax 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 - 2009/2010/2011 Signed 16 February 2012 ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) APPENDIX II NOTES TO THE ESTIMATED STATEMENT OF AFFAIRS (cont) 5. Director's Loan Account The book value of the director's loan account has been provided by the director The director has introduced personal funds into the Company over its trading life, which remains outstanding The figure 1s not regarded as agreed amount for the purposes of the liquidation procedure 6 Trade and Expense creditors / NatWest Bank Details of the Company's trade and expense creditors including the NatWest bank have been extracted from the Company's books and records A detailed list of these amounts has been provided at Appendix Ill The amounts shown should not be regarded as agreed dh. Signed 16 February 2012 fr Crowson ARMOURY BUSINESS ADVISORS LIMITED (FORMERLY KNOWN AS ECONOMICA BUSINESS ADVISORS LIMITED) APPENDIX III SCHEDULE OF CREDITORS See attached list Signed 16 February 2012 owson B - Company Creditors Page Code Name & Address Amount of Debt co0001 HM Revenue & Customs £25,333 00 Debt Management & Insolvency Durrington Bridge House Barrington Road Worthing co0002 C Mullen £7,000 00 Business Manager National Westminster Bank Plc Underbank Hall 10 Great Underbank Stockport SK1 1Lb C0003 Binaery Consultancy Limited £252 00 126 High Street West Glossop SK13 8HJ co0004 Christopher Crowson £2,000 00 156 Buxton Road Newton Disley Stockport SK12 2RQ TOTAL CREDITORS’ CLAIM £34,585 00 Signature Date E585Q