Rule 4.34-CVL The Insolvency Act 1986 Form 4.20 Statement of Company’s Affairs Pursuant to Section 95/99 of the Insolvency Act 1986 S.95/99 To the Registrar of Companies For Official Use Company Number lososr67s Name of Company (a) Insert full name of company © Budget Signs Graphics Ltd (b) Insert full name I/We ® Alex Kachani and address of Crawfords Accountants LLP, Stanton House 41 Blackfriars Road Salford Manchester, M3 7DB {c) Insert date the Liquidator(s) of the above named company attach a statement of the company’s affairs as at ©) 23 April 2015 Signed Sho~AD Date: 23 April 2015 The presenter’s name, Crawfords Accountants LLP [ For Official Use address and reference Stanton House Liquidation Section Post Room 41 Blackfriars Road Salford Manchester M3 7DB C664/5/AK/KLB Ty 13/05/2015 COMPANIES HOUSE #113 Rule 4.34-CVL Form 4.19 Statement Of Affairs IN THE MATTER OF Budget Signs Graphics Ltd and IN THE MATTER OF THE INSOLVENCY ACT 1986 Statement as to the affairs of Budget Signs Graphics Ltd on the 23 April 2015 the date of the resolution for winding up Statement of Truth I/We Mr Kaikuas Fazil of 16 Hornsea Close, Bury, BL8 2UA Make a Statement of Truth and say that the several pages exhibited hereto and marked “KF1” are to the best of my knowledge and beltef a full, true and complete statement as to the affairs of the above named company as at 23 April 2015 the date of the resolution for winding up and that the said company carrted on business as Sign Manufacturer Signature , Jed. lp Date. 23 April 2015 IN THE MATTER OF Budget Signs Graphies Ltd This 1s the exhibit marked “KF 1” referred to in the Statement of Truth of Mr Kaikuas Fazil A—Summary of Assets ASSETS Book Value | Estimated to Realise Assets specifically pledged:- £ £ Assets not specifically pledged:— Cash at Bank 700 700 Cash in Hand 2,700 2,700 Trade Debtors 1,200 - Plant & Machinery 5,000 2,600 Stock 500 200 Motor Vehicle 1,948 1,000 Estimated total assets available for preferential creditors 12,068 7,200 —_ Jobot- Date Summary of Assets (7/98) Al — Summary of Liabilities Estimated to Realise Estimated total assets available for 7,200 creditors (from Summary of Assets) £ Estimated surplus as regards creditors 7,200 Debts secured by a floating charge:— £ Estimated deficiency of assets available 7,200 for non-preferential creditors Non-preferential claims:— £ Trade creditors per schedule 12,758 Crown creditors per schedule 30,000 42,758 Estimated deficiency as regards creditors 35,558 £ Issued and called-up capital:- 20 20 Estimated deficiency as regards members 35,578 Signature jt Ve Date Summary of Liabilities (7/98) Budget Signs Graphics Ltd Notes to the Statement of Affairs 1 Valuation of assets at director’s valuation, other than estimated to realise value of Plant and Machinery, Stock and Motor Vehicle, which have been value by JPS, Chartered Surveyors, independent valuers, on a market value as a whole for use 1n 1ts working place Claims of creditors are subject to agreement in due course The amounts stated will not prejudice your claim which will be agreed, 1f appropriate, by the Liquidator in due course Section 176A of the Insolvency Act 1986 (as amended) requires the Liquidator to set aside a percentage of a company’s assets for the benefit of the unsecured creditors in cases where the company gave a “qualifying floating charge” over its assets to a lender on or after 15 September 2003 This 1s known as the “prescribed part of the net property” A company’s net property 1s that left after paying the preferential creditors, but before paying the lender who holds a floating charge A Liquidator has to set aside - * 50% of the first £10,000 of the net property, and ¢ 20% of the remaining net property up to a maximum of £600,000. There is no qualifying floating charge in this case so the prescribed part provisions do not apply in this case Subject to the costs and expenses of the winding up Subject to the verbal explanations to be given at the meeting of creditors 23 April 2015 Estimated Deficiency Account£ £ £ Amounts written off assets: Book Value 12,068 Estimated to Realise 7,200 4,868 Fixed Assets — Book Value 9,626 Disposed of — proceeds uncertain - 9,626 Profit and Loss Account — 31/03/13 1,753 Estimated trading losses for the period from 01/04/14 to cessation 19,331 Estimated Total Deficiency as per Statement of Affairs 35,578 BUDGET SIGNS GRAPHICS LTD Schedule of Trade Creditors £ Application Tape Company Limited, Calf Hey South, off Well'lth Lane, Rochdale 4,359 30 Lancs, OL11 23S Northern Signcases Units E/F, Vulcan Business Park, Derker Street, Oldham, OL1 4AS 4,720.44 Plastic Direct Ltd, E&F Vulcan Business Park, Derker Street, Oldham, OL1 4AS 3,679 10 12,758.84 Schedule of Crown Creditors £ H M. Revenue & Customs Central National Insolvency Unit 5th Floor Regian House James Street Liverpool L75 1AD_ Ref: 134 7056 24 (est) 20,000 00 HM Revenue & Customs Durrington Bridge House, Barrington Road, Worthing, BN12 4SE_Ref: (est) 10,000.00 30,000.00 Schedule of Director’s Loan Account £ Mr K Fazil, 16 Hornsea Close, Bury BL8 2UA 100 00 100.00 Total (Unsecured) 42,858.84