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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
                                                                                            8407476
                               Name of Company
(a)   Insert full name    of
      company                     Cousins & Co (NW) Limited




(b)   Insert    full   name    VWe ®    David N Kaye
      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 © 17 February 2015



                               Signed                                                 Date     17 February 2015
                                                                  ~~




The presenter’s name,          Crawfords Accountants LLP                               For Official Use
address and reference          Stanton House                               Liquidation Section       Post Room
                               41 Blackfriars Road
                               Salford




                                                                                        iT
                               Manchester M3 7DB
                               C653/S/DNK/KLB




                                                                                                          41 LAMB"
                                                                                                        19/02/2015
                                                                                                COMPANIES HOUSE           196
Rule 4.34-CVL                                                                Form 4.19

                Statement Of Affairs


                IN THE MATTER        OF Cousins & Co (NW) Limited

                and

                IN THE MATTER OF THE INSOLVENCY ACT 1986

                Statement as to the affairs of Cousins & Co (NW) Limited

                on the 17 February 2015 the date of the resolution for winding up


                Statement of Truth


                We          Mr Andrew Chadwick

                of          10 Edmund Street, Shaw, Oldham, OL2 8EY




                Make a Statement of Truth and say that the several pages exhibited hereto and
                marked “AC1” are to the best of my knowledge and belief a full, true and complete
                statement as to the affairs of the above named company as at 17 February 2015 the
                date of the resolution for winding up and that the said company carried on bustness
                as Estate Agents and Letting Agents




                Signature           (a)


                Date                 17 February 2015
A —Summary of Assets

ASSETS                                                                 Book Value | Estimated to
                                                                                       Realise
Assets specifically pledged:-                                               £             £




                                                                             None          None




Assets not specifically pledged:—



Office Equipment and Furniture                                Note 1   Not Known             260
Debtors                                                       Note 6         None          None
Goodwill                                                                       Nil        Note 7
Funds tn Hands of Accountant                                                 3,600         3,600




Estimated total assets available for preferential creditors                                3,860




Signature


pac y\L\eord
Summary of Assets (7/98)
Al - Summary of Liabilities

                                                                                                   Estimated to
                                                                                                      Realise

                   Estimated total assets available for preferential                           £          3,860
                   creditors (from Summary of Assets)
Liabilities
        Preferential Creditors:—                                                      £

                   Arrears of pay                                      Note 8                            19,978


Estimated deficiency as preferential creditors                                                 £         16,118
        Debts secured by a floating charge:—                                          £
                                                                                     Nil           Nil


Estimated      deficiency       of   assets   available   for   non-preferential               £         16,118
creditors
        Non-preferential claims:—                                                          £
        Trade creditors per schedule                                                      17,500
        Crown creditors per schedule                                   Note 9         46,000
        Bank creditor                                                                Note 10
        Director's loan account                                                      Note 11
        Pay in Lieu of Notice and Redundancy Pay                       Note     8       To be
                                                                                    computed
                                                                                                         63,500
Estimated deficiency as regards creditors                                                      £         79,618


                                                                                      £
        Issued and called-up capital:-                                                1
                                                                                                                  I
Estimated deficiency as regards members                                                        £         79,619




Signature     W

Dae           a ADIN
Summary of Liabilities (7/98)
                                                  Cousins & Co (NW) Limited

                                                       Schedule of Creditors

Trade Creditors                                                                                                  £

Agency Signs UK Ltd, 21 Waterhouse Close, Wardle, Rochdale, OL12 9LL                                                    9,000

EON Energy Solutions Limited, Business Customer Service,   P O Box 2010, NGI 9GQ                                          500

Ref   5001 934117
PPS Media Limited, Basepoint Business Centre, Crab Apple Way, Vale Park, Evesham, Worcestershire, WR11                  8,000
IGP


Total Amount                                                                                                           17,500




Crown Creditors                                                                                                  £

H M Revenue & Customs, NI] Contributions Office, Insolvency   Longbenton, Newcastle upon Tyne, NE98 1ZZ                 6,000

H M Revenue & Customs, Durrington Bridge House,, Barrington Road,, Worthing, BN12 4SE

Ref_687 25479 02015 A 02
HM Revenue & Customs, National Insolvency Unit, Sth Floor Regian House, James Street, Liverpool, L75       1AD        40,000

Ref   151 157002

Total Amount:                                                                                                          46,000



Employees                                                                                                        £

Miss Ketly Anne Stoneman, 3 Crow Hill View, Oldham, OL4 SPR                                                          1,024 80

Mr Anthony Gore, 120 Simister Lane, Prestwich, Manchester, M25 2SB                                                   2,440 00

Mrs Andrea Flint, 15 Ross Avenue, Chadderton, Oldham, OL9 8AN                                                          243 20

Mrs Angela Spencer, 54 Radcliffe Road, Moorside, Oldham, OL4 2NR                                                     1,464 00

Mrs Anne Smith, 18 Green Lane, Garden Suburbs, Oldham, OL8 3AY                                                       2,155 74

Mrs Beverly Mycan, 55 Arden Street, Chadderton, Oldham, OL9 8JD                                                      3,098 80

Mrs Catherine Parton, 36 Den Hill Drive, Springhead, Oldham, OL4 4NR                                                 2,396 08

Mrs Diane Flanagan, 448 Rochdale Road, High Crompton, Shaw, Oldham, OL2        7PD                                   3,098 80

Mrs Hazel Butterworth, 5 Lime Tree Grove, Failsworth, Manchester, M35 9NH                                            2,073 39

Mrs Linda Wright, 97 Kelverlow Street, Clarksfield, Oldham, OL4   1LX                                                1,983 96



Total Amount                                                                                  Note     9         19,978.77
Bank

Yorkshire Bank, 47 Market Place, Oldham, OLI   3AD        Note 10

Ref    05-06-46 / 22390950
Yorkshire Bank, 66 Market Street, Shaw, Oldham, OL2 8ND   Note 10

Ref    05-07-67 / 61053563

Total Amount:
                                            Cousins & Co (NW) Limited


                                        Notes to the Statement of Affairs


Estimated to realise value of the assets has been provided by Robson & Kay & Co Ltd, corporate recovery
agents In the absence of accounts the book value of the office equipment and furniture, having a forced sale
value of £260, cannot be reported

Claims of creditors are subject to agreement in due course                    The amounts stated will not preyudice your claim
which will be agreed, if appropriate, by the Liquidator in due course

No account has been taken of any claims by creditors under a Retention of Title clause

                                                                                                 Section 176A of the Insolvency Act
1986 (as amended) requires the Liquidator to set astde 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

Subject to the costs and expenses of the winding up

The director reports that the company presently has no invoiced debtors       Such debts would arise after a
contract for the sale of a property has been exchanged and would be paid to the company immediately upon
completion by the solicitor acting on the sale    At the time of this report there are no such debtors It 1s
believed that commissions due on agreed sales, even prior to exchange should accrue to the company

Robson     Kay    &   Co   Ltd   have   been    instructed     to seek    and        negotiate   with any    parties     interested   in the
acquisition of the business and goodwill of the company                          A     report will be provided at the meeting of
creditors and in any further written reports to creditors

Claims of £19,978 77 have been received from employees                         The employees issued a statutory demand on 19
November      2014    claiming the sum       of £12,53749         Since that time, further wages             have   accrued     and certain
payments have been made              The amount claimed has been regarded for the purposes of the Statement of
Affairs as a preferential claim although it may transpire on closer examination of the payroll records that a
proportion may be non-preferential

Note that this represents only the arrears of pay and takes no account of accrued holiday pay, pay in lieu of
notice and/or redundancy pay which would be computed according to the personal circumstances of each
individual

The figure of £46,000 owing to Crown creditors is made up of -

                                                        £
Arrears of PAYE                                        6,000
Arrears of VAT                                        40,000
     It has not been possible to compute the actual liabilities for PAYE/VAT as no returns have been submitted
     for either liability since the mception of the company and the director ts unable to compute the precise figures
     by reference to the company's records

     The company transacted its business through accounts at Yorkshire Bank, at its Oldham branch and its Shaw
     branch An application has been made to the bank for details of the accounts and balances but the bank have
     declined to respond on the grounds that the accounts are in the name of Cousins & Co, not Cousins & Co
     (NW) Limited, suggesting that the accounts are non company accounts The director confirms that all of the
     company transactions have passed through those accounts and that the title of the account 1s purely an
     oversight since the incorporation of the business from the foregoing partnership in February 2013

HH   No information has been provided, nor has it been possible to estimate the balance on the director's loan
     account from the records available   This will have to be deferred until the appointment of the Liquidator

12   Mr Andrew Chadwick the sole director has drawn money          from the company on an ad hoc basis since its
     incorporation   This has not been passed through the payroll and subjected to PAYE though he regards those
     payments, which he estimates at £50,000 since the incorporation of the company, as director's remuneratron
     for the services which he has provided to the company

13   In the absence of any annual or management accounts tt has not been possible to provide a deficiency
     account     It was hoped that the closing accounts of the partnership, which would constitute the opening
     accounts of the company, would assist in this but those accounts have not been provided           On a simple
     understanding of the estimated Statement of Affairs, 1t would appear that the company has made trading
     losses in the order of £80,000 in the two year period of its operation but that 1s in turn dependent upon the
     accuracy of the figures provided by the director