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
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