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Rules 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

                                                                                                         For Official Use
                          To the Registrar of Companies


                                                                                                      Company     Number
                                                                                                 [      8607085             |

                          Name of Company
(a) Insert full name of   (a) Quality Discount Furniture And Beds Limited
company


(b) Insert full name(s)   We, (b) Anthony Josephs                            Linda Fansh
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) 15 August 2014




                          Signed   !   Wy
                                                          on                   Date            IS. Pag




Presenter's               Anthony Josephs
name, address             Linda Farish
and reference (if         RMT Accountants & Business Advisors               Liquda    iS
any)                      RMT, Gosforth Park Avenue                                   4
                          Newcastle upon Tyne NE12 8EG                                x
                          Laosoo                                                      «                 *A3EELG7F*
                                                                                               A06       16/08/2014         #74
                                                                                                     COMPANIES HOUSE
Rule 4 34-CVL                                                                                         Form 4 19

                Statement of Affairs
                                         QUALITY DISCOUNT FURNITURE AND BEDS LIMITED

                Statement as to affairs of Quality Discount Furniture And Beds Limited
                on the 15 August 2014 being a date not more than 14 days before the date of the resolution for
                winding up




                Statement of Truth

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


                Full Name        Mrs Tracey Watson


                Signed                     TE   ALQFEN.


                Dated                       IS-S- Y




Signature.                        Date
A - SUMMARY OF ASSETS

                                      Book Value       Estimated to Realise
                                                  £                        £

Assets Subject to Specific Charge

Assets Subject to Fixed Charge

Assets Subject to Floating Charge

Assets not Subject to Charge
       Cash on Hand                          4,750                    1,750
       Computer Equipment                        35                       35
       Refund Due                              361                      361

Available to preferential creditors         2,146                     2,146




Signature__   “7 UN 74 La                 Date        AS™   EALY
A1 - SUMMARY OF LIABILITIES

                                                                               Estimated to Realise
                                                                           £                        £

Estimated total assets available for preferential creditors                                   2,146

Liabilities
      Wages                                                            (800)
       Holiday Pay                                                     (599)
                                                                                             (1,399)
Estimated Surplus (Deficiency) as regards preferential creditors                                747

Estimated total assets available for floating charge holders                                    747

      Floating Charge Claims                                                                       ie)
Total assets available to unsecured creditors                                                   747.

Unsecured non-preferential claims
     Associated Creditors                                           (20,350)
     Banks/Institutions                                              (3,636)
     Employees                                                       (6,657)
     HM Revenue and Customs                                         (14,350)
     Trade and Expense Creditors                                    (19,056)
                                                                                           (64,049)
Estimated Surplus (Deficiency) Unsecured creditors                                         (63,302)

      Share Capital
      Ordinary                                                         (100)
                                                                                               (100)
Estimated Surplus (Deficiency) as regards members                                          (63,402)




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                    Quality Discount Furniture And Beds Limited
                       NOTES TO THE STATEMENT OF AFFAIRS

Secured Creditors None recorded at Companies House

Leasehold The premises from the which the Company traded were in the personal
name of the director It is not anticipated that there will be a value to the liquidator

Computer Equipment These have been independently valued by professional valuers,
James Sutherland (Auctioneers) Limited on a forced sale basis

Cash At Bank The Company web site was sold by the director, following advice from
{T experts, and the sale proceeds of £1,750 00 plus VAT are held in the liquidators
client account

Refund Due The refund due ts in respect of an overpayment in relation to the service
charges on the former trading premises

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
the statutory limits prescribed and also includes employee claims in excess of statutory
limits, where appropriate

‘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 1s calculated as follows   -

«   50% of the first £10,000 of the net property of the company if the net assets are in
    excess of the £10,000
*   20% of the property thereafter, subject to a limit of £600,000

The prescribed part in this matter is NIL as there Is no floating charge holder

Non Preferential Creditors

Employees’ Claims 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 the
statutory limits prescribed and also includes employee claims in excess of statutory
limits, where appropriate

H M Revenue and Customs        Represents PAYE/NIC outstanding for months 5 and VAT
for the past 6 months

Banks & Institutions Represents        to   amount    due   to   the   Bank   in   respect   of the
overdrawn Bank account

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


                                     TW.             IS EY
Inclusion does not constitute an admission that there is 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

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




                    Tse         1S B14