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 8.95/99 To the Registrar of Companies For Official Use Company Number 08110559 Name of Company (a) Insert full name of company Perfect Confectionery Limited (b) Insert full name VWe © Alex Kachani and address of Crawfords Accountants LLP, Stanton House 41 Blackfnars 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 © 09 April 2015 Signed LphnA— Dat e. 09 April 2015 The presenter’s name, Crawfords Accountants LLP For Official Use address and reference Stanton House iL Liquidation Section Post Room 41 Blackfriars Road I C Salford Manchester M3 7DB C665/5/AK/SH 17/04/2015 #290 COMPANIES HOUSE Rule 4.34-CVL Form 4.19 Statement Of Affairs IN THE MATTER OF PERFECT CONFECTIONERY LIMITED and IN THE MATTER OF THE INSOLVENCY ACT 1986 Statement as to the affairs of Perfect Confectionery Limited on the 9 April 2015 the date of the resolution for wmding up Statement of Truth I/We Mr John S Rose of 12 Richmond Terrace, Gateshead, Tyne & Wear, NE8 IRN Make a Statement of Truth and say that the several pages exhibited hereto and marked “JSR1” are to the best of my knowledge and beliefa full, true and complete statement as to the affairs of the above named company as at 9 April 2015 the date of the resolution for winding up and that the said company carried on business as Manufacturer of Bread, Pastries & Cakes 4A Signature vA Date 9 April 2015 IN THE MATTER OF PERFECT CONFECTIONERY LIMITED This 1s the exhibit marked “JSR1” referred to in the Statement of Truth of Mr John S Rose A— Summary of Assets ASSETS Book Value | Estimated to Realise Assets specifically pledged:- £ £ Assets not specifically pledged:— Trade Debtors 23,816 Note 2 Cash in Hands of Accountants 6,327 6,327 Cash at Bank 2,631 2,631 VAT Refund Note 4 Note 4 Goodwill of Business 2,000 NIL Estimated total assets available for preferential creditors 34,774 8,958 A LG Signature ao” / Date G / ¢ /} > Summary of Assets (7/98) Al ~- Summary of Liabilities Estimated to Realise Estimated total assets available for preferential 8,958 creditors (from Summary of Assets) Liabilities Preferential Creditors:— Estimated surplus as preferential creditors 8,958 Debts secured by a floating charge:— Loan - John 8 Rose 2,300 2,300 Estimated surplus of assets available for non-preferential creditors 6,658 Non-preferential claims:— £ Trade creditors per schedule 11,976 Crown creditors per schedule 111,839 Former Employee Creditor - Disputed 7,494 Director’s Loan Account 625 131,934 Estimated deficiency as regards creditors 125,276 £ Issued and called-up capital:- 1 Estimated deficiency as regards member 125,277 Signature Date | +) ! y Summary of Liabilities (7/98) Perfect Confectionery Limited Notes to the Statement _of Affairs 1 The 2013 accounts reported company assets comprise plant and machinery with a net book value of £23,410 as at 31 August 2013 The company sold these assets to John Rose trading as J S Management, a connected party, in the sum of £10,000 on 2 September 2014, which was based on an independent professional valuation carried out by Edward Symmons, valueers and auctioneers, in 2012. These assets would have a net book value of circa £17,557 at the time of the sale, after a further annual depreciation on a 25% reducing balance basis This resulted in a loss on sale of the plant and machinery of circa £7,577 The company also sold its residual stock and a motor van to John Sam Rose, a connected party sale, for a total consideration of £1,505 There are trade debtors with an outstanding balance of circa £23,816 A preliminary review of the trade debtors cannot be carried out at the time of preparing this report and therefore no estimate has been provided on the estimated realisable value of debtors A sum of £2,960 has been received from the company which 1s shown on the face of the Statement of Affairs as cash in hands of accountants The director advises that he 1s presently holding a further £3,367 from customer receipts which he will bring to the meeting on 9 April 2015, totalling £6,327 There is a potential VAT refund of circa £1,535 due to the company but this 1s likely to be set-off against the company’s indebtedness to other crown creditors No set-off has been applied for the purpose of the Statement of Affairs Claims of creditors are subject to agreement in due course The amounts stated will not preyudice your clam which will be agreed, 1f appropriate, by the Liquidator in due course. It is understood from the director that the company 1s indebted to Salford City Council in respect of unpaid business rates but this amount has not been quantified at thts stage and therefore, an estimate of this lability cannot be provided at this stage. No provision has been made in respect of claims by employees under the terms of the Employment Rights Act 1996 but former employees are due arrears of wages, holiday pay, redundancy pay, and/or statutory notice pay, where appropriate Mr S I Levy, a former employee of the company, brought an employment claim against the company for unfair and wrongful dismissal and a sum of £7,493.87 has been awarded to him but thts amount 1s being disputed by the company. 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. In this case, there 1s a qualifying floating charge created or registered on or after this date in favour of John Sam Rose who is the sole director and shareholder of the company The value of the net property is uncertain at this stage, as the value of the recoverability of the trade debtors cannot properly be assessed in the absence of complete records. The prescribed part is currently estimated at £NIL. Creditors should note that the costs and expenses of these proceedings will be deducted before the net property 1s calculated so that both the net property and any prescribed part will only apply if realisations from trade debtors can be substantially recovered ito the estate, which 1s uncertain at this stage. Subject to the costs and expenses of the winding up. Subject to the verbal explanations to be given at the meeting of creditors 9 April 2015 10 The Deficiency Account estimated the trading losses to be circa £84,278 for the final trading period from 1 September 2013 to date of liquidation being 9 April 2015. The final trading loss of £84,278 does not take into account the potential recovery of trade debtors which have a total book value of circa £23,816 Estimated Deficiency Account £ £ Amounts written off assets: Book Value 34,774 Estimated to Realise 8,958 25,816 Proceeds from Sale of Plant and Machinery 10,000 Plant and Machinery ~ Net Book Value 17,557 Loss on Sale of Plant and Machinery 7,577 Proceeds from Sale of Stock 1,330 Stock — Cost Value 1,330 Profit/Loss on Sale of Stock NIL Proceeds from Sale of Motor Van 175 Motor Van — Net Book Value (Est) 1,000 Loss on Sale of Motor Van 825 Former Employee Claim — Disputed 7,493 Profit and Loss Account ~ 31 August 2013 712CR Estimated trading losses for the period from 1 September 2013 to cessation 84,278 Estimated Total Deficiency as per Statement of Affairs 425,277 PERFECT CONFECTIONERY LIMITED Secured Creditor £ Mr J S Rose t/a J S Management, 12 Richmond Terrace, Gateshead, Tyne & Wear NE8 2,300.00 IRN 2,300.00 Schedule of Trade Creditors £ First Data Merchant Solutions, First Data Europe Ltd, Janus House, Endeavour Drive, 117.00 Basildon, SS143WF Ref 520334507273639 Gazprom Energy, 5th Floor Bauhaus, 27 Quay Street, Manchester, M3 3GY 235.00 Ref: 10038192 Grunsfeld Fine Foods Ltd 10 Waterpark Road, Salford, M7 4AS 319.77 Hudson Energy Avebury House, 219-225 Avebury Boulevard, Milton Keynes, MK9 1AU 120.00 Ref: 00003503 Hudson Energy Avebury House, 219-225 Avebury Boulevard, Milton Keynes, MK9 [AU 0.00 Ref: 00003725 Kolbo 28 Wellington Street East, Salford, M7 2AX 1,284.91 Linksmine Ltd 12 Richmond Terrace, Gateshead, NE8 1RN 7,519 23 Opus Energy Royal Pavilion, 2 Summerhouse Road, Moulton Park, Northampton, NN3 1,300 00 6BJ Ref: 662953 Salford City Council Customer & Support Services, Unity House, Salford Civic Centre See Note 5 Chorley Road, Swinton Salford, M27 SAW SSE Southern Electric Inveralmond House, 200 Dunkeld Road, Perth, PHI 3AQ 120 00 Ref: 0712030414 SSE Southern Electric Inveralmond House, 200 Dunkeld Road, Perth, PHI 3AQ 600 00 Ref: 2028036315 SSE Southern Electric Inveralmond House, 200 Dunkeld Road, Perth, PH! 3AQ 100.00 Ref 9720959315 Taim Deli Unit 12, Knoll Street, Salford, M7 2BL 260 34 United Utilities PO Box 50, Warrington, WA55 1AQ 0.00 11,976.25 Schedule of Crown Creditors £ H M Revenue & Customs, Durrington Bridge House, Barrington Road, Worthing 111,839 47 BN12 4SE Ref 475/SA81487 [PAYE/NIC] HM Revenue & Customs, National Insolvency Unit, 5th Floor Regian House, James Street, - Liverpool, L75 1AD_ Ref: 141 2625 47 [VAT] _ | 111,339.47 Former Employee Creditor £ Mr Solomon I| Levy, 47 George Street South, Salford, M7 9PN [Disputed] 7,493 87 7,493.87 Director’s Loan Account £ Mr J S Rose, 12 Richmond Terrace, Gateshead, Tyne & Wear NE8 1RN 625 00 625.00 Total (Unsecured) 1193459 |