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                                                                                                     Form 4.20
    Rule 4 34 - CVL The Insolvency Act 1986


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


                                                                                                     For official use
                          To the Registrar of Companies
                                                                                                     LTT |
                                                                              Company Number
                                                                                       01179683                         |
                          Name of Company
     Insert fullname of | CLEANBRITE LIMITED
              company


      insert full names            Richard Rones
        and addresses      ’
                          of   | ThorntonRones Limited
                                 311 High Road
                                 Loughton
                                 Essex
                                   1G10 1AH
            Insert date the liquidator(s) of the above named company attach a statement of the company's
                        affairs as at 14 April 2011




                          Signed                                              Date    if,



     Presenter's name, ThorntonRones Limited                                            For Official Use
          address and
|             reference 311 High Road                                         Liquidation section]      Post room




                                                                                     Ne
                (fany) Loughton
                          Essex
                          IG10 1AH




                                                                                                19/04/2011
                                                                                            COMPANIES HOUSE
Rule 4 34-CVL                                                                       Form 4 19


                Statement of Affairs


                Statement as to affairs of

                                          CLEANBRITE       LIMITED

                onthe    14 Apml 2011, the date of the resolution for winding up



                Statement of Truth

                | believe that the facts stated in this statement of affairs are a full, true and
                complete statement of the affairs of the above named company as at 14
                April 2011




                Fullname     ©s>OsUSN             GELGS           EDrersswor



                Signed          or
                                   ——




                Dated               Vig HM       HO,
                                             CLEANBRITE LIMITED
                            DIRECTOR'S ESTIMATED STATEMENT OF AFFAIRS
                                         AS AT 14 APRIL 2011

                                                                          Notes     Book       Estimated to
                                                                                    Value         Realise
                                                                                      £             £
ASSETS

Assets Not Specifically Pledged:-
     Goodwill and Trading Style                                             4             -      Uncertain
     Plant, Machinery, Fixtures & Fittings                                  2       525,993         85,700
     Stock                                                                  3         2,000          2,000
     Motor Vehicies                                                         4        31,193          2,200
     Cash at Bank                                                           5       102,714        102,714
      Connected Company Debtor - The Withindale Gallery Ltd                 6       974,284               -

Estimated total assets available for preferential creditors                        1,636,184       192,614

LIABILITIES.-
Preferential creditors:-
           None
Estimated surplus/(deficit) to non-preferential creditors                                          192,614


Non-preferential claims:-

      Trade & Expense Creditors                                                       39,384
      H M Revenue & Customs (PAYE/NIC)                                       7       343,361
      H M Revenue & Customs (VAT)                                            8     1,048,762
                                                                                                (1,431,506)

Estimated deficiency as regards creditors                                                       (1,238,892)

Issued and called up capital:-

      100 Ordinary Share of £1 - issued and fully paid                                                  (100)

Estimated total deficiency as regards members                                                   (1,238,992)




Signature.. oe                oe casvense
                  nee Tassssensaee                                    cones oe :
                                                             cee cee cses
                                                 Date..cccscccte
           Darren Edmonston
                                                                                                               Al
                                         CLEANBRITE LIMITED
                     NOTES TO DIRECTOR'S ESTIMATED STATEMENT OF AFFAIRS
                                      AS AT 14 APRIL 2011
1 Goodwill and Trading Style

 The      Goodwill   compnses   of the Company's   remaining   client base   as well as the trading     name    of
 "Cleanbrite”   Professional and Independent valuers, Messrs Agentcie Limited, have been instructed to
 value this asset, and have advised that a consideration of around 2 5 - 3% of turnover for the first year
 would be an appropnate value However, the value of this is noted as uncertain, for the purposes of the
 Statement of Affairs, in view of the potential habilitties, both present and future, that may arise from
 personal injury claims from accidents at the supermarket sites for which the company provided cleaning
 services
 At present it 1s believed that the Company's exposure for ongoing personal injury claims ts around
 £85,000, being the amounts up to the insurance excess levels in place at the time of the accident, which
 would be payable by the Company      Up to March 2009, this excess was £10,000, which was reduced to
 £5,000 and then, from March 2010, it was reduced to Nil At present, there are believed to be 13 such
 claims ongoing, however, as there is a 3 year time limit for claims, therefore the possibility of future
 ability remains open until March 2013

  In order to protect any such Goodwill, such claims may need to be taken over and met by the purchaser
  of the Goodwill and trading style, which ts anticipated to be Cleanbrite (UK) Limited, of which Mrs Ulrike
  Powlesiand ts director, as should the claimant attempt to take legal action against the supermarket, this
  may then prove onerous for any ongoing contracts, or their renewa! This issue will therefore have to be
  reviewed by a duly appointed liquidator with a view to reaching an agreement as to the value of thts asset

2 Plant, Machinery, Fixtures & Fittings

  This mainly comprises of cleaning machinery that is located at the various Sainsbury's stores from which
  the company operated       These assets has been valued by an independent and professional valuer,
  Messrs Agentcite  Limited,   for the purposes of the Statement of Affairs, at £85,700 if sold to a willing
  buyer and £15,200 on a "forced sale" (!e if broken up and sold at auction) basis

  However, Messrs Agentcite have also advised that they are aware that, in addition to the items valued,
  there may be a large amount of defunct and obsolete machinery held in storage, having been previously
  used on the former Tesco's sites !t has not been possible to value these items and, consequently, the
  duly appointed Liquidator will take steps to review and value these Items

3 Stock

  This comprises of sundry cleaning consumables, workwear etc           These assets has been valued            by
  Messrs Agentcite Limited, at £2,000 on a “willing buyer" basis and £500 on a "forced sale" basis

4 Motor Vehicles

  This comprises of three Ford Transit vans These have been valued by Messrs Agentcite Limited, for the
  purposes of the Statement of Affairs, at £2,200 on a "willing buyer" basis and £1,200 on a “forced sale"
  basis
§ Cash at Bank                                                                                                       .

  This is the current credit balance believed to be held in the Company's current account with National
  Westminster Bank plc and should therefore be fully recoverable in to the liquidation

6 Connected Company Debtor - The Withindale Gallery Ltd

  The Withindale Gallery Ltd (“Withindale") provided management services to the Company and ts also the
  100% owner of the Company's shares However, Withindale now also has no option but to cease trading
  and enter into Creditors Voluntary Liquidation, and a meeting of its creditors has also been cailed for 14
  April 2011 for the purposes of passing a Winding Up Resolution and appointing a liquidator             It is not
  currently anticipated that there will be funds available from the liquidation of Withindale to distribute to its
  creditors
                                       CLEANBRITE LIMITED                                             l
                 NOTES TO DIRECTOR'S ESTIMATED STATEMENT OF AFFAIRS
                                   AS AT 14 APRIL 2011
                                             (continued)

7 HM   Revenue & Customs (PAYE/NIC)

 The outstanding PAYE and NIC relates to sums owed from November 2010 onwards

8 H M Revenue & Customs      (VAT)

 The outstanding VAT relates to sums owed following the ending of the Company's payment plan with H
 M Revenue & Customs, and includes VAT and surcharges owed for periods from November 2008

9 The costs and expenses of the Ibquidation have not been accounted for
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