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Rules 434-CVL             —— The Insolvency Act 1986                                                                  Form 4.20

                            Statement of Company's
                            Affairs                                                           2
                            Pursuant to Section 95/99 of the
                            Insolvency Act 1986

                                                                                                                 For Official Use
                            To the Registrar of Companies


                                                                                                           Company        Number
                                                                                                  ‘|           03422352             ]
                            Name of Company
(a) Insert fullname of | (a) Wideopen Service Station Limited      _-
company


(b) Insert full name(s)    — We, (b) Anthony Josephs        ,                      Linda Farish         a
and address(es)              Gosforth Park Avenue                                  Gosforth Park Avenue
                            Newcastle upon Tyne NE12 8EG                           Newcastle upon Tyne NE12 8EG

                            the Liquidators of the above, named company, attach a statement of the company's              affairs
(c) Insert date             as at (c) 03 March 2015




                            Signed            He                lr.
                                                                 p                  Date     S315




Presenter’s                 Anthony Josephs                                :                 Toomer       wees
name, address               Linda Farish
and reference (if         ©= RMT Accountants & Business Advisors
any)                         RMT, Gosforth Park Avenue                         x
                             Newcastle upon Tyne NE12 8EG                      g
                            LW7000                                             2
                                                                               ©                   051032015
                                                                                             COMPANIES HOUSE                  —
Rule 4 34-CVL                                                                                          Form 4 19


                Statement of Affairs
                                              WIDEOPEN SERVICE STATION LIMITED           ~

                Statement as to affairs of Wideopen    Service Station Limited
                on the 3rd day of March 2015 being a date not more than 14 days before the date of the resolution
                for winding up   = _//




                Statement of Truth
                                                                                    vA

                | believe that the facts stated in this Statement of Affairs are true


                Full Name        Mr Michael James Fozard


                Signed           ——

                                                      =~           a

                Dated                    &-   oa)




                                                           _
Signature.                        Date    t     7-5            :
A - SUMMARY OF ASSETS

                                                           Book Value     Estimated to Realise
                                                                     £                        £

Assets Subject to Specific Charge

Assets Subject to Fixed Charge
      Financed Vehicle                                           17,739                  10,000
      Less   Amounts Owing to Lombard North Central pic        (13,327)                (13,327)
                                                                  4,412                 (3,327)

Assets Subject to Floating Charge
     Cash at Bank                                                2,088                   2,088
     Cash on Hand                                                  677                     677
     Debtors (Pre-Appointment)                                  14,332                   9,813
     Freehold Property                                           8,879                         0
     Furniture, Fixtures and Fittings                            3,804                     535
     Goodwill                                                   11,550                         0
     Motor Vehicles                                              4,033                   6,000
     Plant and Machinery                                         8,012                   2,850
                                                                63,375                  21,963
Assets not Subject to Charge


Available to preferential creditors                             57,787                   21,963




Signature.                               Date   &-   3%   a)
A1 - SUMMARY OF LIABILITIES

                                                                                 Estimated to Reahse
                                                                             £                         £

Estimated total assets available for preferential creditors                                   21,963

Luabilities
      Wages                                                           (2,873)
       Holiday Pay                                                    (8,578)
                                                                                             (11,451)
Estimated Surplus (Deficiency) as regards preferential creditors                               10,512

Estimated total assets available for floating charge holders                                   10,512

       Floating Charge Claims                                                                (95,468)
Total assets available to unsecured creditors                                                     NIL

Unsecured non-preferential claims
     Associated Creditors                                            (70,441)
     Deficiency in Fixed Charge (b/d)                                  (3,327)
     Deficiency in Floating Charge (b/d)                             (84,956)
     Employees                                                       (52,849)
     HM Revenue and Customs                                         (103,533)
     Trade and Expense Creditors                                    (105,851)
                                                                                            (420,957)
Estimated Surplus (Deficiency) Unsecured creditors                                          (420,957)

       Share Capital
       Ordinary                                                          (100)
                                                                                                (100)
Estimated Surplus (Deficiency) as regards members                                           (421,057)




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                         Wideopen Service Station Limited

                     NOTES TO THE STATEMENT OF AFFAIRS




Secured Creditors The Royal Bank of Scotland were granted a debenture by the
Company on 24 November 1997 (Registered 3 December 1997) creating a fixed and
floating charge over the assets and undertaking of the Company

Freehold Property The company operates from premises owned by the director This
relates to alterations made to the premises which, for the purposes of the Statement of
Affairs, have been written down to Nil The company’s tenancy will be investigated by
the appointed liquidators

Other Assets

Cash in Hand

This relates to funds received from debtors prior to liquidation and currently held in an
RMT client account

Book Debts

Book debts have been written down by a specific provision of £2,095 to reflect known
bad debts and the balance by a general provision of 20%

Motor Vehicles, Plant & Machinery, Furniture, Fixtures & Fittings

These assets have been professionally valued by our agents H & H James Sutherland

Goodwill

Goodwill had been written down to nil

Cash at Bank

This represents amounts held in a separate bank deposit account

Preferential Creditors

Wages/Holiday Pay This represents amounts due to employees in respect of wages
arrears and accrued holiday pay which will be paid from the Redundancy Fund up to
jhe Statutory limits prescribed and also includes employee claims in excess of statutory


‘Prescribed Part’

Under the provisions of the Enterprise Act 2002, introduced on 15 September 2003 the
preferential status of the Inland Revenue and Customs & Excise has been abolished

As a consequence of this a “prescribed part” of the Company’s assets must be set
aside for the benefit of the unsecured creditors In respect of any floating charge
security granted after 15 September 2003

The prescribed part Is calculated as follows   -
     e       50% of the first £10,000 of the net property of the company if the net assets are in
             excess of the £10,000
     e       20%   of the property thereafter, subject to a lima of £600 000

     The prescribed part tn this matter Is estimated at £ NIL as the floating charge pre-dates
     15" September 2003

10   Non Preferential Creditors

     Employees’ Claims This represents amounts due to employees under the Employment
     Rights Act 1986 in respect of redundancy and compensation for failure to receive
     statutory notice and payable to prescribed limits by Department for Business Innovation
     & Skills (“BIS”), together with claims for redundancy and payment in lieu of notice in
     excess of statutory limits prescribed by BIS

     H   M     Revenue     and   Customs     Represents    PAYE/NIC     of     £68,278 87   relating    to
     underpayments from tax year 2013/14 together with outstanding payments from May
     2014 to date VAT of £35,254 09 Is outstanding for four quarters from August 2013 to
     date This figure includes £3,373 54 in surcharges

     Associated Creditors

     This represents capital and other items introduced into the company            by the director, Mr
     Fozard

     Trade Creditors Trade creditors are based on the books and records of the company
     at the date of liquidation and are stated inclusive of VAT

     Inclusion does not constitute an admission that there ts now or has been in the past
     any legal liability upon the company to make payment of the whole or part of the
     amount shown

41   The statement of affairs does       not reflect the fees and expenses        of administering     the
     liquidation