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Rule 4 34                                                                                                     Form 4 20




                                                                                   S.95/99
                     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
                                                                                               [_        os7vooses     |
                               Name     of Company
(a) Insert full name of        M Hoyles Limited
company



(6) Insert full name and       {
 addresses                     JM     Evans
                               HR   Harris & Partners
                               44 St Helens Road
                               Swansea
                               SA1 4BB

(c) Insert date                the liquidator of the above-named company attaches a statement of the company’s
                               affairs as at 21 April 2014




                               Signed                                       Date    22 April 2015


                                         L
                                                                                      For Official Use
Presenter's name,              H R Harris & Partners                    Liquidation Section            Post Room




                                                                               wg
address and reference
(if any)                       44 St Helens Road
                               Swansea                                                                wee
                               SA1 4BB




                                                                                          23/04/2015
                                                                                      COMPANIES HOUSE
Rule 4 34-CVL                                                                       Form 4 19
           a                                                                         a“
                Statement of Affairs

                                            M HOYLES LIMITED

                Statement as to affairs of 21% April 2015 M Hoyles Limited

                on the   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

                         Full Name        Mr Mark Hoyles


                         Signed        loure.           Heagih—
                         Dated            21" April 2015
M Hoyles Limited

A-— Summary of Assets

Assets                                                        Book Value       Estimated to Realise

Assets subject to fixed charge:
Plant & Machinery                                                     15,536            0
 Xerox Finance Ltd                                                  (15,536)    (15,536)

Deficiency c/f                                                                  (15,536)                NIL




Assets Subject to a Floating Charge:
Plant & Machinery                                                     2,600                           1,140
Book Debts                                                              677                             677
Cash at Bank                                                          1,300                           1,300
Cash in Hand                                                          1,920                           1,920


Estimated total assets available for preferential creditors                                           5,037
A1 — Summary of liabilittes


                                                                                         Estimated to Realise


Estimated tota! assets available for preferential creditors
(carned from page A)
                                                                                                                5,037
Preferential creditors
 None                                                                                             0
Total Preferential Claim                                                                                           (0)
Estimated surpius as regards preferential creditors                                                             5,037


Estimated total assets available for floating charge holders                                                    5,037

Debts secured by floating charges
 HSBC Bank ple                                                                             66,000
                                                                                                           (66,000)
Estimated deficiency of assets after floating charges                                                      (60,963)
Total assets available to unsecured creditors                                                                     NIL
Unsecured non-preferential claims (excluding any shortfall to floating charge holders)
 Directors Current Account                                                                  19,036
 Employees’ Claims                                                                                0
 Trade Creditor                                                                              5,414
 Xerox Finance Ltd deficiency b/f                                                           15,536
                                                                                                           (39,987)


Estimated deficiency as regards non-preferential creditors               £                                (100,950)
Issued and called up capital
 Ordinary                                                                                           ,
                                                                                                                   (1)


Estimated total deficiency as regards members                                                             (100,951)
M HOYLES                LIMITED
Trading Results (£)


                                                                                                                      Reserve
                                              Net    _Profit/    Directors         Shareholders      Dividends     sg c/f year
 Period Ended                Turnover         (Loss)             Remuneration      Funds             Paid             end

 Period ending
 23/09/2013 to
 30/06/2014                  19,921           (22,405)

Comments           on the Directors’ Statement of Affairs

The Statement of Affairs does not reflect the costs of insolvency and realisation

Assets
Book Debts

The estimated to realise value of the book debts Is that of £676 80 from the one remaining debtor of
the company

Plant and machinery

The majority of the company’s machinery was bought on finance      On current information insufficient
money will be realised from their sale to repay the finance agreements The parties concerned have
been contacted and advised to collect the machinery

It is estimated to realise the sum of £1140 00 in respect of other small items namely a Guillotine, GBC
Multibind, Floor Scale, Postal Scale and an A1 A-Board

Cash in hand

At the time    of the   Liquidation   the   sum   of £1,920 00    Is held   in the Liquidator’s   Insolvency     Matter
Account

Cash at Bank

It is estimated that there is approximately £1,300 00 that has been deposited into the company's bank
account that !s being held over for the appointment of a Liquidator

Creditors

Secured creditors
The company granted a fixed and floating charge to HSBC Bank                    plc created on the 24°” December
2013 The sum of £66,000 00 ts secured by the floating charge                    and a personal guarantee by the
director

Preferential creditors
There are no preferential creditors as there are no employee                claims for unpaid wages    or claims for
unpaid holiday

Prescribed Part
The prescribed part only applies where the company has granted a floating charge to a creditor after
15 September 2003        Where a floating charge over the company’s assets has been given           a
prescribed amount of the company’s net property after paying the preferential creditors must be made
available to the unsecured creditors and the basis of this calculation is detailed below -
50% of the first £10,000 of the net property, and
20% of the remaining net property up to a maximum of £600,000

Unfortunately the company’s net property is less than the prescribed minimum (currently £10,000) and
the cost of distributing the prescribed part would be disproportionate Therefore the prescnbed part
provisions will not apply

Unsecured creditors
The unsecured claims total £39,987 00, | would point out that the amounts shown have been provided
by the director or company accountant, which may not necessarily agree with your own records
However, the amounts stated will not prejudice your claim as it will be agreed by the Liquidator in due
course   Creditors may also be entitled to claim VAT Bad Debt Relief on their claims

£19,036 00 of the unsecured claims total relates to the fund that the director personally injected into
the Company

Shares

The   issued and fully paid up share capital is that of £1 00 resulting in an overall total deficiency of
£100,951 00
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