Form 4.20 Rule 4 34 - CVL 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 03663699 Name of Company Ocean Air Distribution Limited |/We Barry David Lewis FCA FABRP. 2 Mountview Court 310 Friern Barnet Lane Whetstone London N20 0YZ the liquidator(s) of the above named company attach a statement of the company affairs as at 15 February 2011 Signed te 15 February 2011 Harris Lipman LLP 2 Mountview Court For Official Use 310 Friern Barnet Lane In: new Sactinn — | Dact Danm Whetstone London N20 0YZ Ref 03117/BDL/MXG/ROC TABTAZRRO* A27 18/02/2011 115 COMPANIES HOUSE Rule 4 34-CVL Form 4 19 Statement of Affairs Statement as to affairs of Ocean Air Distribution Limited on the 15 February 2011 the date of the resolution for winding up Statement of truth | believe that the facts stated in this Statement of Affairs are true Full Name STEPUE™ JOUN SHYovBnaiDsTr Sioned 7 on Dated Ocean Arr Distribution Limited Statement Of Affairs as at 15 February 2011 A - Summary of Assets Estimated to Assets Book Value Realise £ £ Assets subject to fixed charge: Assets subject to floating charge Uncharged assets: Freehold Land & Property (note 2) 229,496 75 200,000 00 Furniture & Equipment {note 2) 2,976 44 400 00 Plant & Machinery (note 2) 3,250 00 2,000 00 Motor Vehicles (note 4) 22,599 56 16,000 00 Stock/WIP (note 9) 496,664 00 1,000 00 Book Debts (note 3) 132,674 76 79,604 86 BEKC Limited - in liquidation (note 5) 1,230,385 00 NIL VAT Refund 9,975 27 9,975 27 Insurance claim 10,852 95 10,852 95 Cash at Bank (note 2) 171,279 80 171,279 80 Goodwill NIL NIL Estimated total assets available for preferential creditors 491,112 88 Signature _S2Sv bor Isf2l Ocean Ar Distribution Limited Statement Of Affairs as at 15 February 2011 A1 - Summary of Liabilities Estimated to Realise £ Estimated total assets available for preferential creditors (Carried from Page A) 491,112 88 Liabilities Preferential Creditors - Employees Claims (note 7) Uncertain NIL Estimated deficiency/surplus as regards preferential creditors 491,112 88 Debts secured by floating charge pre 15 September 2003 Other Pre 15 September 2003 Floating Charge Creditors NIL 491,112 88 Estimated prescribed part of net property where applicable (to carry forward) NIL Based on floating charge assets of Nil Estimated total assets available for floating charge holders 491,112 88 Debts secured by floating charges post 15 September 2003 NIL Estimated deficiency/surplus of assets after floating charges 491,112 88 Estimated prescribed part of net property where applicable (brought down) NIL Total assets available to unsecured creditors 491,112 88 Unsecured non-preferential claims (excluding any shortfall to floating charge holders) Trade & Expense Creditors {note 8) 978,793 88 Employees (note 7) Uncertain HM Revenue and Customs - PAYE & NIC 32,504 32 HP Unsecured Claims (note 4) 45,468 32 Warranty Provisions (note 6) 39,322 62 1,096,089 14 Estimated deficiency/surplus as regards non-preferential creditors (excluding any shortfall in respect of F.C's post 14 September 2003) (604,976 26) Estimated deficiency/surplus as regards creditors (604,976 26) Issued and called up capital 100,000 £1 ordinary shares 100,000 CO 400,000 00 Estimated total deficiency/surplus as regards members (704,976 26) Signature SKhouy, Date / of 2/, ] 1 The assets have been professionally valued by Southern Insolvency Group (UK) Ltd 2 There ts a fixed & floating charge granted to Lloyds TSB Commercial Finance Ltd, Vanburgh House, Grange Drive, Hedge End, Southampton SO30 4SL on 6 December 2006 which was registered at Companies House on 15 December 2006 _ It ts understood that there are no monies owing to the chargeholder 3 The book debts are stated after accounting for creditor contras A provision of 40% bad debts has also been made 4 Motor vehicles are subject to hire purchase agreements under which there may be monies outstanding However, the Estimated to Realise value of such vehicles is shown on the Statement of Affairs and may be realised during the course of the Iquidation 5 BEKC Limited had entered into Creditors’ Voluntary Liquidation and | understand from the duly appointed Liquidator that there ts little prospect of any returns to creditors 6 Warranty Provisions covers areas where work has been carned out under warranty and cannot be imvoiced 7 It has not been possible to quantify any employees claims at this stage However, the staff have now been reemployed by a successor company and as such TUPE regulations may apply 8 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 9 Stock 1s estimated to realise only a nominal amount as the majority of it has either been utilised in the normal course of trading, may be subject to Retention of Title clauses or is of an obsolete nature 10 The Statement of Affairs has been prepared from information provided by the directors It does not take into account the cost of realisation of the assets or the cost of the liquidation SIS Harris Lipman LLP Ocean Air Distribution Limited A2 - Secured Creditors Key Name Address £ CLO1 Lioyds TSB Commercial Finance Ltd Jelicoe House, Grange Drive, Hedge End, Southampton, SO30 2AF 000 Security Given All monies due Date Given 06/12/2006 1 Entries Totalling 0.00 SS =, Page 1 of 1 IPS SQL Ver 2010 10 February 2011 12 20 Ocean Air Distribution Limited B - Company Creditors Key Name Address £ CAO0 Adcock Ref & A/C Ltd 5 London Road Industrial Estate, London Road, Pampisford, Cambridge, CB2 4XX 41125 CA01 Aria Building Services Ltd 1 Church Lane, Brimpton, Reading, Berkshire, RG7 4TJ 201 06 Cco0 City Link Ltd A & K Distribution Ltd (Accounts Dept), T/A Initial City Link, Link House, North Moors, 84 66 Skyfield Ind Estate, Guildford, Surrey cco1 Cripps Hares Hall LLP Wailside House, 12 Mount Ephraim Road, Tunbridge Wells, Kent, TN1 1EG 2,401 70 CbDOo1 Derek Field & Co Crown House, 37 High Street, East Grinstead, Sussex, RH19 3AF 528 75 CFO0O FG Eurofred Ltd Unit 150 Centennial Avenue, Centennial Park, Elstree, Borehamwood, Herts WD6 231,683 72 Cz90 HM Revenue and Customs Insolvency and Securities, DX 146828 EUSTON 8 000 C291 HM Revenue and Customs Enforcement Office, DX 90957 WORTHING 3 000 CZ92 HM Revenue and Customs Debt Management & Banking, 3rd Floor NW, Queens Dock, Liverpool, L74 4AA 000 CZ93 HM Revenue and Customs Insolvency Claims Handling Unit Room BP3202, Warkworth House Benton Park View, 32,504 32 Longbenton, Newcastle Upon Tyne, NE98 1ZZ CKOO King Sturge 40 Berkely Square, Bristol, BS8 1HU 11,083 32 CLOO LG Electronics (UK) Ltd Spares Division, LG House, 250 Bath Road, Slough, Berkshire 5,732 67 ELOO Mr D Livingstone 25 Quebec Close, Eastbourne, East Sussex, BN23 5RJ 000 Ewoo Mr D Winters 432 Godstone Road, Whyteleafe, Surrey, CR3 OBB 000 EHOO Mr G Harding 30 Abbots Rise, Redhill, Surrey, RH1 1LL 000 EHO1 Mr N Hopgood 16 Hockenmead, Pound Hill, Crawley, West Sussex, RH10 3UL 000 EMOoo Mr P Mills 11 Kingsmead Place, Broadbridge Heath, Horsham, West Sussex, RH12 3TA 000 ETOO Mr Richard Tyson 4 Brackenside, Langshott, Horley, Surrey, RH6 9DY 000 RAOO Mr Stephen Shoubridge Highwood Barn, Highstead Lane, Lickfold, West Sussex, GU28 9DY 000 EOo0 Mrs D Orr 16 Faulkner Gardens, Littlehampton, West Sussex, BN17 6GS 000 EWO1 Mrs J Winters 432 Godstone Road, Whyeleafe, Surrey, CR3 0BB 000 EL01 Mrs S Lear 242 Crawley Road, Horsham, West Sussex, RH12 4HE 000 CP00 Pitney Bowes Ltd The Pinnacles, Harlow, Essex, CM19 5BD 91 28 CROO Richard Place Dobson 1-7 Station Road, Crawley, West Sussex, RH10 1HT 3,264 75 cso0o Sanyo Air Conditioners Europe $ r| ECO! House, 9 Whyteleafe Business Village, Whyteleafe Hill, Whyteleafe, CR3 OAT 716,682 56 cso1 Sanyo Service Deutschland GmbH Zollfreilager, CH-4023, Basel, Switzeriand 6,047 56 cso2 SWALEC PO Box 2346, Cardiff, CF23 8WE 207 16 cwo0 Wolseley UK Ltd cio The P&A Partnership, 93 Queens Street, Sheffield, $1 1WF 373 44 28 Entries Totalling 1,011,298.20 Ocean Air Distribution Limited C - Shareholders Key Name Address Pref Ord Other Total HAGO = Mr Stephen Shoubridge Highwood Barn, Highstead Lane, Lickfold, West Sussex, GU28 9DY A) 100,000 0 100,000 1 Entries Totalling 100,000 Ocean Air Distribution Limited DEFICIENCY ACCOUNT £ Surplus/(deficit) on Profit and Loss Account as at 31 944,253 00 March 2009 Freehold Property (753 00) Plant & Machinery & Furniture & Equipment (165,305 00) Motor Vehicles 16,000 00 Stock/WIP (495,664 00) Book Debts (423,707 14) BEKC Ltd — In liquidation (1,100,385 00) VAT refund 9,975 27 Insurance claim 10,852 95 Cash at Bank 129,992 80 Estimated surplus/(deficiency) on realisation of (2,018,993 12) assets, Estimated profit/(loss) on trading for the period from 369,763 86 1 April 2009 to 15 February 2011 Estimated deficiency as regards Members £(704,976 26) Prepared by HARRIS LIPMAN 2 MOUNTVIEW COURT 310 FRIERN BARNET LANE WHETSTONE LONDON N20 0YZ SoS