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                                                                                                                          Form 4 20
 Rule 4 34 - CVL




                                                                     595/99
                            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


                                                                                                      4     Company
                                                                                                                 pany Number
                                                                                                                 03551906


                            Name of Company


                              Tubetec Concentric Limited


                            |/We           S

                            Craig Povey, 35 Calthorpe Road, Edgbaston, Birmingham, B15 1TS

                            Kevin Murphy, 35 Calthorpe Road, Edgbaston, Birmingham,                B15 1TS
                                           /




                            the liquidator(s) of the above named company attach a statement of the company affairs
                            as at 11 March 2015            Y




                                                                                                                   ra

                                                                                    Date                  11 March 2015
                                               Fo
                            Signed              Ke.


                            Chantrey Vellacott DFK LLP
                            35 Calthorpe Road                                                 For Official Use                        |
                            Edgbaston                                  Insolve              Sectian       lompankRashBosm
                            Birmingham
                            B151TS
                                                                                 SATURDAY




                            Ref      TUBE63315/CJP/VSE/MB
Software Supplied by Turnkey Computer Technology Limited   Glasgow
                                                                                                             *A43518BE*
                                                                                              AG             14/03/2015         #92
Rule 4 34-CVL                                                                            Form 4 19

                Statement of Affairs

                Statement as to affairs of
                                                  4
                Tubetec Concentric Limited
                                                                                    v4
                on the 11 March 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                 DAW           D   *E4LcE

                Signed                            Live                          a


                Dated                        /f       2%.   2QS
Tubetec Concentric Limited                /
Statement Of Affairs as at 11 March 2015

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

Assets subject to fixed charge
Goodwill                                                             42,439 00     22,000 00
National Westminster      Bank      plc                                           (21,736 05)
Surplus ¢/d                                                                           263 95

Book Debts                                                           65,166 47     62,133 18
RBS     Invoice Finance   Limited                                                 (49,613 73)
Surplus ¢/d                                                                         2,519 45

Rent Deposit Deed                                                     4,899 75       4,899 75
Letchworth Garden City Heritage Fund                                              (12,323 98)
Deficiency c/d                                                                     (7,424 23)

Motor Vehicle                                                         6,825 00       5,875 00
Close Brothers Motor Finance                                                       (5,181 47)
Surplus e/d                                                                            693 53


Assets subject to floating charge
Stock                                                                 8,510 00                           3,000 00
Plant, Machinery, Fixtures & Equipment                               12,459 00                          28,000 00

Uncharged assets

Estimated total assets available for preferential creditors                                             31,000 00




Signature            COMA                                     44     3D.   2ors
Tubetec Concentric Limited
Statement Of Affairs as at 11 March 2015

A1 - Summary of Liabilities
                                                                                                        Estimated to
                                                                                                             Realise
                                                                                                                    £

Estimated total assets available for preferential creditors (Carried from Page A)                           31,000 00

Liabilities
     Preferential Creditors -
          Employee Arrears/Hol Pay                                                        3,410 79
                                                                                                             3,410 79
Estimated deficiency/surplus as regards preferential creditors                                              27,589 21

Debts secured by floating charge pre 15 September 2003
Other Pre 15 September 2003 Floating Charge Creditors
                                                                                                                  NIL
                                                                                                            27,589 21

Estimated prescribed part of net property where applicable (to carry forward)                                     Nit
Estimated total assets available for floating charge holders                                                27,589 21

Debts secured by floating charges post 15 September 2003
                                                                                                                  NIL
Estimated deficiency/surplus of assets after floating charges                                               27,589 21

Estimated prescribed part of net property where applicable (brought down)                                         NIL
Total assets available to unsecured creditors                                                               27,589 21

SURPLUS B/D                                                                                                  3,476 93
Unsecured non-preferential claims (excluding any shortfall to floating charge holders)
        Deficiency b/d                                                                    7,424    23
        Trade & Expense Creditors                                                        45,017    95
        Employees                                                                        21,687    75
        Directors                                                                        58,742    00
        HM Revenue & Customs - PAYE/NIC                                                    1,001   65
        HM Revenue & Customs - VAT                                                        4,586    75
                                                                                                           138,460 33
Estimated deficiency/surplus as regards non-preferential creditors
(excluding any shortfall in respect of F C’s post 14 September 2003)                                     (107,394 19)

Estimated deficiency/surplus as regards creditors                                                        (107,394 19)

issued and called up capital
        Ordinary Shareholders                                                             7,000 00
                                                                                                             7,000 00
Estimated total deficiency/surplus as regards members                                                    (114,394 19)




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Tubetec Concentric Limited

Notes to the Statement of Affairs

          tn accordance        with the Company’s         accounts   for the year ended         30 April 2014, the
          Company’s goodwill had a net book value of £42,439 An offer of £53,000 has been
          received for the Company’s business and assets, of which £22,000 relates to Goodwill
          Further details of the proposed sale are provided below

          The Company’s debtor ledger ts subject to a debt factoring agreement with RBS Invoice
          Finance Limited (RBSIF) The duly appointed liquidator is to liaise with RBSIF to establish
          the position in respect of the ledger and strategy for collecting in the remaining
          balances

          A   rent   deposit    deed   in the     sum    of   £4,899 75   has   been   lodged     in   respect   of the
          Company’s      leasehold     premises     It is understood that the outstanding liabilities to the
          landlord are in excess of the deposit value and so no recovery Is expected                      in respect of
          this balance

          The Company owns a motor vehicle subject to a Hire Purchase agreement It is believed
          that there may be some equity in the agreement after settlement The duly appointed
          liquidator ts to baise with the Hire Purchase company in due course

          In accordance        with the Company’s        2014   accounts, the Company's         chattel assets had a4
          net book value of £12,459          In accordance with Kumar and Company’s valuatton, these
          assets had an in-situ valuation of £28,000, and | can confirm that an offer of £28,000 has
          been received for these assets as part of the wider business sale noted above Further
          details of the sale are disclosed below

          Kumar and Company have advised that the Company’s stock has an estimated value of
          £3,000 after taking into account potential reservation of title claims An offer of £3,000
          has been received and Is incorporated within the sale of the business disclosed below

          Pursuant to Section 176A of The Insolvency Act 1986 (as amended), a Prescribed Part of
          the Company’s         net assets should be set aside for the benefit of unsecured creditors
          This reduces the funds that would otherwise be made available to any secured creditor
          under Floating Charges created after 15 September 2003

          It 1s anticipated that the qualifying floating charge holders will be fully settled from fixed
          charge realisations and so the prescribed part is not expected to be applicable in this
          matter

          The values for trade & expense                creditors are taken from the company’s books and
          records Any variation from the                creditors’ records may be investigated by the duly
          appointed Liquidator

          The inclusion of a claim does not constitute admission of the debt                All claims are subject
          to formal adjudication

    10    The position regarding abilities to HMRC will need to be established                            by the   duly
          appointed liquidator following the submission of final returns



$980200