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                                                                                                                        Form 4 20
 Rule 4 34 -CVL




                                                                                                           [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

                                                                                                           Company Number

                                                                                                                  03516357


                           Name of Company


                             Team Valley Reinstatement Limited


                           |/We
                           Gordon Smythe Goldie                                                Allan David Kelly
                           Bulman House                                                        Bulman House
                           Regent Centre, Gosforth                                             Regent Centre
                           Newcastle upon Tyne                                                 Gosforth
                           NE3 3LS                                                             Newcastle upon Tyne
                                                                                               NE3 3LS




                           the hiquidator(s) of the above named company attach a statement of the company affairs
                           as at 12 February 2013




                           Signed                         hi                            Date             12 February 2013




                                                                                         MO
                           Tait Walker
                                                                                               For Official Use
                           Bulman House
                           Regent Centre, Gosforth                    Inso
                           Newcastle upon Tyne
                           NE3 3LS
                                                                             THURSDAY




                           Ref      11224/GSG/ADK/KP/KJ/CH                                             14/02/2013            #306
Software Supplied by Tumkey Computer Technology Limited    Glasgow                                 COMPANIES HOUSE
Rule 4 34-CVL                                                                           Form 4 19
                Statement of Affairs

                Statement as to affairs of

                Team Valley Reinstatement Limited

                on the 12 February 2013 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                    Keuiws          DAYID            CAN

                Signed                        M          hore

                Dated                             pu/ a/r2) 3
Team Valley Reinstatement Limited
Statement Of Affairs as at 12 February 2013

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

Assets subject to fixed charge’
Ford Transit                                                     8,000 00     3,500 00
Close Motor Finance Limited                                                 (7,427 00)
Deficiency c/d                                                              (3,927 00)


Assets subject to floating charge:
Plant, Machinery, Fixtures & Fittings                           38,080 00                           100 00
Motor Vehicles & Parts                                          11,807 00                         1,400 00
Book Debts                                                     108,431 00                         8,909 00
Prepayments                                                      2,382 00                              NIL
Cash at Bank/Cash in Hand                                       10,846 00                        13,638 00
Directors Loan Account                                          54,105 00                              NIL

Uncharged assets:

Estimated total assets available for preferential creditors                                      24,047 00



Signature          VA          2        bare        Date      12f Uo?
Team Valley Reinstatement Limited
Statement Of Affairs as at 12 February 2013

A1 - Summary of Liabilities
                                                                                                        Estimated to
                                                                                                             Realise
                                                                                                                    £

Estimated total assets available for preferential creditors (Carried from Page A)                           24,047 00

Liabilities
     Preferential Creditors -
        RPO - Wage Arrears & Holiday Pay                                                   5,941 65
        Employee - Wage Arrears & Holiday Pay                                                458 35
                                                                                                             6,400 00
Estimated deficiency/surplus as regards preferential creditors                                              17,647 00

Debts secured by floating charge pre 15 September 2003
Other Pre 15 September 2003 Floating Charge Creditors
        HSBC Loan                                                                         61,000 00
                                                                                                            61,000 00
                                                                                                          (43,353 00)

Estimated prescribed part of net property where applicable (to carry forward)                                     NIL
Estimated total assets available for floating charge holders                                              (43,353 00)

Debts secured by floating charges post 15 September 2003
                                                                                                                  NIL
Estimated deficiency/surplus of assets after floating charges                                             (43,353 00)

Estimated prescribed part of net property where applicable (brought down)                                         NIL
Total assets available to unsecured creditors                                                             (43,353 00)

Unsecured non-preferential claims (excluding any shortfall to floating charge holders)
        Deficiency b/d                                                                     3,927 00
        Trade & Expense Creditors                                                         45,653 42
        RPO - Redundancy & Notice Pay                                                     35,679   49
        Employee - Redundancy & Notice Pay                                                   746   06
        HMRC - PAYE & NIC                                                                109,095   00
        HMRC - VAT                                                                        45,000   00
                                                                                                          240,100 97
Estimated deficiency/surplus as regards non-preferential creditors
(excluding any shortfall in respect of F.C's post 14 September 2003)                                     (283,453 97)

Estimated deficiency/surplus as regards creditors                                                        (283,453 97)

Issued and called up capital
        Ordinary Shareholders                                                                200 00
                                                                                                               200 00
Estimated total deficiency/surplus as regards members                                                    (283,653 97)




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Company Creditors — Team Valley Reinstatement Limited

1 Details of Security

Name of creditor                                 HSBC Bank Plc

Address                                          Kingsway North
                                                 Team Valley Trading Estate
                                                 Gateshead
                                                 NEI1 OBE

Amount of Debt (12 February 2013)                £70,000

Details of Security held by Creditors            Fixed & Floating Charge

Date Security given                              30/03/1998




2. Details of Security

Name of creditor                                 HSBC Bank Plc

Address                                          Kingsway North
                                                 Team Valley Trading Estate
                                                 Gateshead
                                                 NE11 OBE

Amount of Debt (12 February 2013)                £70,000

Details of Security held by Creditors            Fixed & Floating Charge

Date Security given                              25/05/2005




Signature             MA       DP       Vihede             Date   (2/2/20?
Team Valley Reinstatement Limited

Notes to the Directors Statement of Affairs                         Dated: 12 February 2013

Valuations

Furniture, equipment and motor vehicles have been valued by independent valuers, Messrs
James Sutherland & Co (Auctioneers) Limited of Newcastle upon Tyne. James Sutherland &
Co (Auctioneers)    Limited    are   members    of the   National    Association      of    Valuers       &
Auctioneers

Plant, Machinery, Fixtures & Fittings

As per the management accounts to June 2012 the net book value of the plant, machinery,
fixtures and fittings was £38,080. At the date of liquidation the net book value of these assets
is £300 which 1s estimated to realise £100 on a forced sale basis
A number of assets have depreciated in value since June 2012 and a number of assets were
disposed of in the period prior to the winding up. This will be investigated by the Liquidators
following their appointment.

Motor Vehicles

As per the management accounts to June 2012 there were three motor vehicles and a number
of vehicle parts with a net book value of £7,500, £8,000 and £4,000 in respect of two
unencumbered vehicles, a vehicle on hire purchase and various sundry parts for these
vehicles

The vehicle on hire purchase and has now been transferred to the new company prior to the
liquidation. The balance of the hire purchase agreement 1s in excess of the current value of
the vehicle

The remaining two vehicles are currently valued at £2,200 and they are estimated to realise
£1,400 on a forced sale basis.

Book Debts

As per the management      accounts to June 2012 the net book value of the debtors was
£108,431.    At the date of liquidation there are outstanding        book   debts of £8,909.           The
directors envisage that these will be collected in full

Cash at Bank/Cash in Hand

As per the management accounts to June 2012 the current account was £10,846. The current
balance is £13,638, of which £6,000 1s held in Tart Walker Advisory Services LLP Chent
Account and £7,638 is in the Company’s current account

The bank may offset the funds in the current account against their outstanding loan of
£70,000 under their fixed and floating charge This will be investigated by the liquidators
following their appointment

                                               KDpe
TAIT WALKER CORPORATE RECOVERY                                          Team Valley Reinstatement Limited
Report to Creditors                                                    Private & Confidential — Not for publication
Prepayments

The directors do not consider that any prepayments will be recoverable
Employees

Employees of the Company have claims for arrears of pay, holiday pay, pay 1n lieu of notice
and redundancy pay, as appropriate, followimg the termination of their contact

Both arrears of pay and holiday pay rank as preferential claims subject to statutory limits
Amounts in excess of the statutory limits together with pay in heu of notice and redundancy
pay rank as unsecured claims

Employee claims have been estimated based upon information available at present Certain of
the employee claims will be discharged through the National Insurance Fund, and the fund
will have subrogated claims for any amounts paid to the employees.

Directors Loans

As per the management accounts to June 2012, the Directors owed the Company £54,105
The balance of the loan account at the date of liquidation 1s nil. These transactions will be
investigated as part of the normal course of the liquidation

Prescribed Part

The Prescribed Part (Section 176(A) of the Act) 1s a proportion of floating charge asset
realisations, net of costs, which are set aside for the benefit of unsecured creditors The
Prescribed Part applies to floating charges created on or after the 15 September 2003 only
The Prescribed Part is calculated using a formula laid down in the Act as follows

    e     50% of the net property up to £10,000;
    e     20% of the net property in excess of £10,000;
    e     Subject to a maximum amount of £600,000.

The Prescribed Part is not applicable in this instance as the floating charge pre dates 15
September 2003.
Trade & Expense Creditors

The amounts due to trade and expense creditors are taken from the books and records of the
Company, and are stated inclustve of VAT Inclusion does not constitute an admission that
there 1s now or has been in the past any legal liability upon the Company of the whole or part
of the amount shown.
General

The Statement of Affairs does not include any provision for the costs of administering the
Liquidation.
                                    KDC
TAIT WALKER CORPORATE    RECOVERY                                     Team Valley Reinstatement Limited
Report to Creditors                                                  Private & Confidential — Not for publication