TXT Random Viewer

Rule 4.34-CVL                The Insolvency Act 1986                                                      Form 4.20
                             Statement of Company’s Affairs
                             Pursuant to Section 95/99 of the
                                                                                                 S.95/99
                             Insolvency Act 1986


                             To the Registrar of Companies                                   For Official Use



                                                                                            Company Number
                                                                                      09031458
                             Name of Company
(a)   Insert full name of
      company                   Grade One Precision Engineering Limited




{b)   Insert   full   name   1/We © Alex Kachant
      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 © 31 March 2015



                             Signed                tet»                          Date 31 March 2015

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



                             a
                             41 Blackfriars Road




                                                                                       Mina
                             Salford
                             Manchester M3 7DB




                                                                                                 eea201 :
                                                                                             COMPANIES HOUSE
Rule 4.34-CVL                                                                       Form 4.19

                Statement Of Affairs


                IN THE MATTER           OF GRADE      ONE    PRECISION         ENGINEERING              LIMITED

                and

                IN THE MATTER OF THE INSOLVENCY ACT 1986

                Statement as to the affairs of Grade One Precision Engineering Limited

                on the 31 March 2015 the date of the resolution for winding up


                Statement of Truth


                I/We        Mr Graham    O'Hanlon

                of          3 Shaw Head Drive, Failsworth, Manchester, M35 OSA




                Make   a Statement   of Truth   and   say   that the several    pages       exhtbited   hereto   and
                marked “GO1” 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 31 March 2015 the date
                of the resolution for winding up and that the said company carried on business as
                Precision Engineering




                Signature                                               A
                                                    ‘Oo                                 7
                Date                 31 March 2015
                                            IN THE MATTER OF

                          GRADE ONE PRECISION ENGINEERING LIMITED




This ts the exhibit marked “GO1” referred to in the Statement of Truth of Mr Graham   O'Hanlon
A — Summary of Assets

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




Assets not specifically pledged:—

Fixtures and Fittings and Computers                  500           NIL




Estimated total assets available for creditors       500           NIL



Signature      Zs          —A

Date         Ji afr

Summary of Assets (7/98)
Al — Summary of Liabilities

                                                                                Estimated to
                                                                                   Realise

                    Estimated total assets available for                             NIL
                    creditors (from Summary of Assets)
Liabilities



Estimated surplus as regards creditors                                               NIL
        Debts secured by a floating charge:—




Estimated surplus of assets available for non-preferential creditors                 NIL
        Non-preferential claims:—
                                                                           £
        Trade creditors per schedule                                   67,452
        Crown cieditors per schedule (Est)                              7,000
        Director’s loan account                                        40,000
                                                                                 114,452

Estimated deficiency/surplus as regards creditors                                114,452




                                                                           £
        Issued and called-up capital:-                                    100
                                                                                     100
Estimated deficiency as regards member                                           114,552




Signature      C6          a.


Date           ST p h<
Summary of Liabilities (7/98)
                          Grade One Precision Engineering Limited

Notes to the Statement of Affairs

1     The director advises that the company’s assets comprise fixtures and fittings and
      computers but all of these are both obsolete and are of poor working condition Therefore,
      these assets have been abandoned by the company and have been written off as
      unrealisable. The company’s encumbered equipment has since been uplifted by the
      finance company and no liability is anticipated to artse from them.

      The company’s factored its book debts with Ashley Commercial Finance Limited and it
      is understood from the director that any residual surplus, if any, would be offset by their
      termination charges Accordingly, there 1s no likelihood of a surplus to be paid into the
      liquidation

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

      No provision has been made in respect of claims by employees under the terms of the
      Employment Rights Act 1996

      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




                                                                                                        so
      after 15 September 2003 This 1s known as the “prescribed part of the net property” A
      company’s net property is 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 Ashley Commercial Finance Limited The estimated net property ts NIL and
      therefore the prescribed part provtstons do not apply in this case

      Subject to the costs and expenses of the winding up

      Subyect to the verbal explanations to be given at the meeting of creditors 31 March 2015.

      It has not been possible to prepare a Deficiency Account as no accounts have been
      prepared since the date of incorporation The estimated deficiency to creditors of circa
      £114,000 relates to trading losses from date of incorporation to date of liquidation, of
      which the director 1s the single largest creditor for £40,000 in respect of monies he had put
      into the company by way of director’s loans.
                       GRADE ONE PRECISION ENGINEERING LIMITED

Secured Creditor

Ashley Commercial Finance Limited, St Peter's Square, 80 Mosley Street, Manchester M2            £
3FX_ [see note 2 to Statement of Affairs]                                                         :

Schedule of Trade Creditors

                                                                                                  £
Aalco   Express Trading Estate, Stonehill Road, Farnworth, BL4 9NN                           2,780 99

Audt Finance   Brunswick Court. Milton Keynes,     MK 14 5LR                                18,089 91

Biffa Waste Services   Coronation Street, High Wycombe, HP12 3TZ                               265 76

Blackburn Metals Ltd   Unit 6 Wilcock Road, Haydock, WA11 9SR                               6,118 32

Colour Anodising Holland Street, Radcliffe, Manchester, M26 2RH                                102 00

Crown Telecom Crown House, Bury, BL9 7JR                                                      646 42

Custom Colour Unit 6, Ouzledaly Foundary, Barnoldswick, BB18 6BN                               521 48

DJ Profiles Hibbert Street. Stockport, SK4 INS                                              2,188 92

Frank Bailey Hadfield Street, Dukinfield, SK16 4RL                                            650 00

GBR Engineering Unit 1E, Broadway, Stockport, SK14 4QF                                        21600

Geopost 15th Floor, Castlemead, Bristol, BS] 3AG                                              246 63

GT Grinding Gladstone Business Park, Oldham, OL4     1AX                                      488 10

Heywood & Palmer The Coach House, Ashton U Lyne, OL7 0BH                                     1,705 54

High Peak Steels Thornfield House, Gloissop, SK13 6LQ                                        1,520 20

Initial Waste River Bank, Meadows Busimess Park, Surrey, GUI7 9AB                               90 54

Keeley Travis Canal Side Lodge, Failsworth, Manchester, M35 9BW                               275 74

Lee Springs Latimer Road, Berkshire, RG41   2WA                                                 36 29

Lloyd Jones Richmond House, Katherine Street, Ashton    U Lyne, OL6 7BD                       494 21

Metal Product Services Unit 12, Shield Drive, Wardley Industrial Estate, Worsley, M28 2QB    1,508 04

Newton Business Park Talbot Road, Hyde, Cheshire, SK14 4UQ                                  7,500 00

O2 Telecom, 116 London Wall, London, EC2M 5QA                                                 428 83
Oldham Electro Plating Argile Street, Oldham, OL] 3PQ                                             168 00

PK Engineerings Hurst Mulls, Industrial Estate, Glossop, SK13 7QB                               3,184 00

Pressier UK 37 Dickerage Road, Kingston upon Thames, KT1 3SR                                      250 00

Qualityshare 6 Hope Street, St Annes on Sea, Lancashire, FY8 3SL                                  13000

Rennie Tools Carrinton Field Street, Stockport, SK 1 3JN                                        2,500 00

Rentokil River Bank, Meadows    Business Park, Surrey, GUt7 9AB                                   127 43

Simon CNC Unit 1, Oldbrick Works Lane, Chesterfield, $41 7JD                                      653 30

Special Engineering Plastics Units 3/4, Ellesmere Business Park, Lincolnshire, NG31 7XT           842 27

SSA Ltd Knights Park, Shrewsbury, SY1     3AB                                                  11,000 00

Stafford Precision 14/15 Park House, Industrial Estate, Staffordshire, STS 7EF                    692 88

TNT Express Unt 5 Cromwell Road, Stockport, SK6 2RF                                             1,628 39

United Eco Services Unit House, West Sussex, RH13 03Z                                             311 80

WDS Components      Richard Shaw Road, Leeds     LS28 6LE                                          8971,



                                                                                              67,451.70

Schedule of Crown Creditors

HM    Revenue & Customs Central National Insolvency Unit, 5th Floor Regian House,                   £
James Street, Liverpool, L75 1AD, [VAT] Ref 191 8923 71                                        2,000 00.

HM Revenue & Customs, NI Contributions Office, Insolvency        Longbenton, Newcastle upon    5,000 00
Tyne, NE98 1ZZ_ [PAYE] (Est)

                                                                                               7,000.00

Director’s Loan Account

                                                                                                    £
Graham O’Hanlon, 3 Shaw Head Drive, Failsworth, Manchester, M35 OSA                            40,000 00


                                                                                               40,000.00




 Total                                                                                        114,451.70