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                                                                                                           Form 4.20
 Rule 4 34 - CVL

                            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

                                                                                                   02322892


                            Name of Company


                              Eurocom Limited


                            | bbe”

                            John Keimanson, Brook Point, 1412-1420 High Road, London, N20 9BH




                            the liquidator(s) of the above named company attach a statement of the company affairs
                            as at 28 May 2015




                            we                       LLL              Day                   28 May 2015


                            Kelmanson Insolvency Solutions
                            Brook Point                                             For |       Use
                            1412-1420 High Road                        insolvency Section          Post Room
                            London
                            N20 9BH
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                                                                                                  COMPANIES HOUSE
     1

Rule 4 34-CVL                                                                           Form 4 19

                Statement of Affairs

                Statement as to affatrs of

                Eurocom     Limited

                on the 28 May 2015 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             \        LY.     VL         PS Sf


                Signed                \         WE    Ar   OS

                                                eae
                Dated                     ZS           Wey              SS
Eurocom Limited
Statement Of Affairs as at 28 May 2015

A - Summary    of Assets
                                                                                   Estimated to
Assets                                                        Book Value              Realise
                                                                   £                     £

Assets subject to fixed charge:

Assets subject to floating charge

Uncharged assets:
Book Debts                                   -                1,614,342 00                        Uncertain
Investment in Holding Company Shares                          1,942,794 00                        Uncertain
Investments & Shares                                                    100                             NIL
VAT Refund                                                         3,541 00                       3,541 00
Cash at Bank                                                          42 00                           42 00

Estimated total assets available for preferential creditors                                        3,583 00


                                                              aN
Signature              eN                           Date LE          ny       \S
Eurocom Limited
Statement Of Affairs as at 28 May 2015

A1 - Summary of Liabilities
                                                                                                        Estimated to
                                                                                                             Realise
                                                                                                                    £

Estimated total assets available for preferential creditors (Carried from Page A)                            3,583 00

Liabilities
    Preferential Creditors -
         Department of Employment                                                          5,013   00
         Employees Wage Arrears                                                              498   00
         Employees Holiday Pay                                                               462   00
         Director Wage Arrears                                                               800   00
                                                                                                             6,773 00
Estimated deficiency/surplus as regards preferential creditors                                              (3,190 00)

Debts secured by floating charge pre 15 September 2003
Other Pre 15 September 2003 Floating Charge Creditors
                                                                                                                   NIL
                                                                                                            (3,190 00)

Estimated prescribed part of net property where applicable (to carry forward)                                      NiL
Estimated total assets available for floating charge holders                                                (3,190 00)

Debts secured by floating charges post 15 September 2003
                                                                                                                   NIL
Estimated deficiency/surplus of assets after floating charges                                               (3,190 00)

Estimated prescribed part of net property where applicable (brought down)                                          NIL
Total assets available to unsecured creditors                                                               (3,190 00)

Unsecured non-preferential claims (excluding any shortfall to floating charge holders)
         Trade & Expense Creditors                                                       984,452 00
         Employees                                                                            730 00
          Department of Employment                                                        29,682 00
          Directors                                                                       35,203 00
          Trans-Eurocom Limited (Loans)                                                  693,743 00
          Trans-Eurocom Limited (SIP / QUEST)                                            237,660 00
                                                                                                          1,981,470 00
Estimated deficiency/surpius as regards non-preferential creditors                            .
(excluding any shortfall in respect of F.C's post 14 September 2003)                                    (1,984,660 00)

Estimated deficiency/surplus as regards creditors                                                       (1,984,660 00)

Issued and called up capital
          Ordinary Shareholders           .                                                3,000 00
                                                                                                              3,000 00
Estimated total deficiency/surplus as regards members                                                   (1,987,660 00)




Signature                            AN               Date 23          sy                \ S

                                     —~
Kelmanson Insolvency Solutions
Eurocom Limited
Aé4 - Preferential Creditors Statement of Affairs Figures


Key               Name                                               ‘                 £

cpDo0             National Insurance Fund                                      §,012 71
                  INSOL
                  Ni Contributions (Insolvency)
                  Longbenton
                  Newcastle Upon Tyne
                  NE98 1ZZ
CE0O              Employees                                                      959 81
CKO1              Lawrence Kenney.                                               800 00
                  26A Hillyard Steet
                  London SW9 ONL


3 Entries Totafling                                                            6,772 52




             Ny




 Signature                        TA        =e>
 Page 1 of t                           \          IPS SQL Ver 2010       28 May 2015 11 09
Kelmanson Insolvency Solutions
Eurocom Limited
AS - Unsecured Creditors Statement of Affairs Figures


Key           Name                                                                         £

CBOO          Mr Anthony Bingham                                               19,080 00
              3 Paper Building, Temple                                   -
              London EC4Y 7EU
CBO01         British Gas Business                                                 275 63
              601095040
              clo Baker Tilly, Salisbury House
              31 Finsbury Circus
              London EC2M 5SQ
Cccoo         HM Customs & Excise                                                    000
              Enforcement Division
              Queens Dock
              Queens Wharf
              Liverpool L74 4AA

CD00          National Insurance Fund                                          29,682 07
              INSOL
              NI Contributions (insolvency)
              Longbenton
              Newcastle Upon Tyne
              NE98 122
CE00          Employees                                                            730 21
Cloo          HM Revenue & Customs                                                    000
              insolvency & Securities
              3rd Floor, Euston Tower
              286 Euston Road
              London, NW1 3UQ
CKOO          Knowles Limited                                                 831,896 65
              26-28 Bedford Row
              London
              WC1R 4HE
CK01          Lawrence Kenney                                                  35,202 61
              26A Hillyard Steet
              London SW9 ONL
CROO          Rodells                                                            5,757 52
              Cell Barnes House
              Cell Barnes Lane
              St Albans
              Herts
              AL1 5AS
csoo          Siemens                                                         123,000 00
              Faraday House, Sir William Stemens Sq
              Frimley
              Camberley
              Surrey
              GU16 8QD




Signature                    ExCne       SN

Page 1 of 2                                           IPS SQL Ver 2010   28 May 2015 13 24
Kelmanson         Insolvency   Solutions
Eurocom Limited
A5 - Unsecured Creditors Statement of Affairs Figures


Key            Name                                                                 £

crag           Trans-Eurocom Limited                                     931,403 00
               W13-W15 , Westminster Business Square
               Durham Street
               London SE11 5JH

Cwoo           Wheelers LLP                                                 4,442 15
               Vale House
               Wharf Road
               Ash Vale
               Surrey
               GU12 5AR


12 Entries Totalling                                                   4,981,469 84
@ - Denotes associate creditor




 Signature                —Snces
 Page 2 of 2                                       IPS SQL Ver 2010   28 May 2015 13 24
Notes

Statement of Affaurs

This Statement of Affairs 1s presented

    *   subject to verbal explanation at the meeting of creditors
    *   subject to the costs and expenses of the liquidation, and
    e   with applicable trade creditors shown inclusive of VAT



Book Debts

The sum of £1,614,342 was awarded to the Company against Siemens at an Adjudication
hearing held on 28 January 2014 in respect of contractual sums outstanding plus damages    This
award was subsequently set aside

The director considers that the amount previously awarded in favour of the Company, totalling
£1,614,342, remains payable



Investment m Holding Company Holding Company Shares

The Company set up a Share Incentive Plan (SIP) in 2003 and a Qualifying Employee Share
Ownership Trust (QUEST) in 2008 The SIP and QUEST holding in the parent Company
shares amounts to £1,942,794, however the director believes there 1s no realisable value in the
shareholding



Investments & Shares

Eurocom Limited own 100% of the shareholding in Eurocom Trustees Lumited         This Company
1s dormant and therefore has no realisable value



VAT Refund

The sum of £3,541 1s due in respect of the VAT return for the quarter ended 31 March 2015
Typically, HM Revenue and Customs offset any refund due against any sums payable to them
The director 1s not aware of any liability outstanding to HM Revenue & Customs and therefore
considers the VAT refund realisable in full



Knowles Limited

As detailed above, Knowles Limited were engaged by the Company to bring a claim against
Siemens 1n respect of contractual sums outstanding and damages The award of £1,614,342 in
favour of the Company was later overturned

Knowles Limited have submitted a claim for the sum of £831,896 65 in respect of their
outstanding fees It should be noted that the director considers the claim as extremely excessive
and furthermore considers the Company has a valid against Knowles Limited
                                                e


The claim of £831,896 65 1s both disputed and unliquidated and accordingly is marked as
objected to



Lawrence Kenney

The director’s claim of £36,003 1s made up as follows

   e   Outstanding salary for the period Apnil 2014 to April 2015 - £21,769
   «   Outstanding payments due in respect of rent for [T Recovery - £11,200
   *   Outstanding travel expenses - £3,033



Trans-Eurocom Limited

Trans-Eurocom Limuted hold 100% of the Company’s shareholding and 1s a company with
common directors and shareholders

The total amount of £931,403 outstanding to Trans-Eurocom Limited 1s made up as follows

   ¢   Amounts due in respect of loans provided - £693,743
   *   Outstanding contribution due in respect of Share Incentive Plan (SIP) and Qualifying
       Employee Share Ownership Trust (QUEST) - £237,660