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                                                                                                                 Form 4.20
Rule 4 34 - CVL

                  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

                                                                                                        03663699


                  Name of Company


                   Ocean Air Distribution Limited


                  |/We
                  Barry David Lewis FCA FABRP.
                  2 Mountview Court
                  310 Friern Barnet Lane
                  Whetstone
                  London
                  N20 0YZ




                  the liquidator(s) of the above named company attach a statement of the company affairs
                  as at 15 February 2011




                  Signed                                                    te                  15 February 2011


                  Harris Lipman LLP
                  2 Mountview Court                                              For Official Use
                  310   Friern   Barnet   Lane               In:    new   Sactinn      —    |           Dact   Danm

                  Whetstone
                  London
                  N20 0YZ

                  Ref      03117/BDL/MXG/ROC                                           TABTAZRRO*
                                                                      A27                  18/02/2011             115
                                                                                   COMPANIES HOUSE
Rule 4 34-CVL                                                                             Form 4 19

                Statement of Affairs

                Statement as to affairs of

                Ocean Air Distribution Limited

                on the 15 February 2011 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                    STEPUE™           JOUN       SHYovBnaiDsTr


                Sioned                7                        on
                Dated
Ocean Arr Distribution Limited
Statement Of Affairs as at 15 February 2011

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

Assets subject to fixed charge:

Assets subject to floating charge

Uncharged assets:
Freehold Land & Property       (note 2)                          229,496    75               200,000     00
Furniture & Equipment        {note 2)                               2,976   44                    400    00
Plant & Machinery          (note 2)                                 3,250   00                  2,000    00
Motor Vehicles           (note 4)                                 22,599    56                16,000     00
Stock/WIP                 (note 9)                               496,664 00                       1,000 00
Book Debts                (note 3)                               132,674 76                      79,604 86
BEKC Limited - in liquidation   (note 5)                       1,230,385 00                             NIL
VAT Refund                                                         9,975 27                       9,975 27
Insurance claim                                                   10,852 95                      10,852 95
Cash at Bank               (note 2)                              171,279 80                  171,279 80
Goodwill                                                                    NIL                         NIL

Estimated total assets available for preferential creditors                                  491,112 88




Signature _S2Sv                 bor                           Isf2l
Ocean Ar Distribution Limited
Statement Of Affairs as at 15 February 2011

A1 - Summary       of Liabilities
                                                                                                       Estimated to
                                                                                                            Realise
                                                                                                                   £

Estimated total assets available for preferential creditors (Carried from Page A)                         491,112 88

Liabilities
     Preferential Creditors -
          Employees Claims            (note 7)                                            Uncertain
                                                                                                                  NIL
Estimated deficiency/surplus as regards preferential creditors                                            491,112 88

Debts secured by floating charge pre 15 September 2003
Other Pre 15 September 2003 Floating Charge Creditors
                                                                                                                 NIL
                                                                                                          491,112 88

Estimated prescribed part of net property where applicable (to carry forward)                                     NIL
Based on floating charge assets of Nil
Estimated total assets available for floating charge holders                                              491,112 88

Debts secured by floating charges post 15 September 2003
                                                                                                                  NIL
Estimated deficiency/surplus of assets after floating charges                                             491,112 88

Estimated prescribed part of net property where applicable (brought down)                                        NIL
Total assets available to unsecured creditors                                                             491,112 88

Unsecured non-preferential claims (excluding any shortfall to floating charge holders)
        Trade & Expense Creditors       {note 8)                                         978,793 88
        Employees                (note 7)                                                  Uncertain
        HM Revenue and Customs - PAYE & NIC                                               32,504 32
        HP Unsecured Claims           (note 4)                                            45,468 32
        Warranty Provisions         (note 6)                                              39,322 62
                                                                                                         1,096,089 14
Estimated deficiency/surplus as regards non-preferential creditors
(excluding any shortfall in respect of F.C's post 14 September 2003)                                     (604,976 26)

Estimated deficiency/surplus as regards creditors                                                        (604,976 26)

Issued and called up capital
         100,000 £1 ordinary shares                                                      100,000 CO
                                                                                                          400,000 00
Estimated total deficiency/surplus as regards members                                                    (704,976 26)




Signature SKhouy,                                     Date      / of 2/, ]
1 The assets have been professionally valued by Southern Insolvency Group (UK) Ltd

2 There ts a fixed & floating charge granted to Lloyds TSB Commercial Finance Ltd, Vanburgh House,
Grange Drive, Hedge End, Southampton SO30 4SL on 6 December 2006 which was registered at
Companies House on 15 December 2006 _ It ts understood that there are no monies owing to the
chargeholder

3 The book debts are stated after accounting for creditor contras     A provision of 40% bad debts has also
been made

4 Motor vehicles are subject to hire purchase agreements under which there may be monies outstanding
However, the Estimated to Realise value of such vehicles is shown on the Statement of Affairs and may
be realised during the course of the Iquidation

5 BEKC Limited had entered into Creditors’ Voluntary Liquidation and | understand from the duly
appointed Liquidator that there ts little prospect of any returns to creditors

6 Warranty Provisions covers areas where work has been carned out under warranty and cannot be
imvoiced

7 It has not been possible to quantify any employees claims at this stage However, the staff have now
been reemployed by a successor company and as such TUPE regulations may apply

8 Trade and other creditors’ balances are provisional and subject to agreement in due course by the
liquidator Inclusion or exclusion from the list of creditors does not constitute admission or rejection of
claims by the liquidator

9 Stock 1s estimated to realise only a nominal amount as the majority of it has either been utilised in the
normal course of trading, may be subject to Retention of Title clauses or is of an obsolete nature

10 The Statement of Affairs has been prepared from information provided by the directors        It does not
take into account the cost of realisation of the assets or the cost of the liquidation




                                                                                                              SIS
Harris Lipman LLP
Ocean Air Distribution Limited
A2 - Secured Creditors
Key           Name                                Address                                                                              £
CLO1          Lioyds TSB Commercial Finance Ltd   Jelicoe House, Grange Drive, Hedge End, Southampton, SO30 2AF                     000
                                                  Security Given All monies due Date Given 06/12/2006
1 Entries Totalling                                                                                                                 0.00
                                                                                                                            SS   =,
Page 1 of 1                                                         IPS SQL Ver 2010                              10 February 2011 12 20
Ocean Air Distribution Limited
B - Company Creditors
Key        Name                                 Address                                                                                                    £
CAO0       Adcock Ref & A/C Ltd                 5 London Road Industrial Estate, London Road, Pampisford, Cambridge, CB2 4XX                      41125
CA01       Aria Building Services Ltd           1 Church Lane, Brimpton, Reading, Berkshire, RG7 4TJ                                              201 06
Cco0       City Link Ltd                        A & K Distribution Ltd (Accounts Dept), T/A Initial City Link, Link House, North Moors,            84 66
                                                Skyfield Ind Estate, Guildford, Surrey
cco1       Cripps Hares Hall LLP                Wailside House, 12 Mount Ephraim Road, Tunbridge Wells, Kent, TN1         1EG                   2,401 70
CbDOo1     Derek Field & Co                     Crown House, 37 High Street, East Grinstead, Sussex, RH19 3AF                                     528 75
CFO0O      FG Eurofred Ltd                      Unit 150 Centennial Avenue, Centennial Park, Elstree, Borehamwood,       Herts WD6           231,683 72
Cz90       HM Revenue and Customs               Insolvency and Securities, DX 146828 EUSTON 8                                                       000
C291       HM Revenue and Customs               Enforcement Office, DX 90957 WORTHING 3                                                             000
CZ92       HM Revenue and Customs               Debt Management & Banking, 3rd Floor NW, Queens Dock, Liverpool, L74 4AA                            000
CZ93       HM Revenue and Customs               Insolvency Claims Handling Unit    Room BP3202, Warkworth House         Benton Park View,      32,504 32
                                                Longbenton, Newcastle Upon Tyne, NE98 1ZZ
CKOO       King Sturge                          40 Berkely Square, Bristol, BS8 1HU                                                            11,083 32
CLOO       LG Electronics (UK) Ltd              Spares Division, LG House, 250 Bath Road, Slough, Berkshire                                     5,732 67
ELOO       Mr D Livingstone                     25 Quebec Close, Eastbourne, East Sussex, BN23 5RJ                                                  000
Ewoo       Mr D Winters                         432 Godstone Road, Whyteleafe, Surrey, CR3 OBB                                                      000
EHOO       Mr G Harding                         30 Abbots Rise, Redhill, Surrey, RH1 1LL                                                            000
EHO1       Mr N Hopgood                         16 Hockenmead, Pound Hill, Crawley, West Sussex, RH10 3UL                                           000
EMOoo      Mr P Mills                           11 Kingsmead Place, Broadbridge Heath, Horsham, West Sussex, RH12 3TA                               000
ETOO       Mr Richard Tyson                     4 Brackenside, Langshott, Horley, Surrey, RH6 9DY                                                   000
RAOO       Mr Stephen Shoubridge                Highwood Barn, Highstead Lane, Lickfold, West Sussex, GU28 9DY                                      000
EOo0       Mrs D Orr                            16 Faulkner Gardens, Littlehampton, West Sussex, BN17 6GS                                           000
EWO1       Mrs J Winters                        432 Godstone Road, Whyeleafe, Surrey, CR3 0BB                                                       000
EL01       Mrs S Lear                           242 Crawley Road, Horsham, West Sussex, RH12 4HE                                                    000
CP00       Pitney Bowes Ltd                     The Pinnacles, Harlow, Essex, CM19 5BD                                                             91 28
CROO       Richard Place Dobson                 1-7 Station Road, Crawley, West Sussex, RH10 1HT                                                3,264 75
cso0o      Sanyo Air Conditioners Europe $ r|   ECO! House, 9 Whyteleafe Business Village, Whyteleafe Hill, Whyteleafe, CR3 OAT              716,682 56
cso1       Sanyo Service Deutschland GmbH       Zollfreilager, CH-4023, Basel, Switzeriand                                                      6,047 56
cso2       SWALEC                               PO Box 2346, Cardiff, CF23 8WE                                                                    207 16
cwo0       Wolseley UK Ltd                      cio The P&A Partnership, 93 Queens Street, Sheffield,     $1 1WF                                  373 44
28 Entries Totalling                                                                                                                        1,011,298.20
Ocean Air Distribution Limited
C - Shareholders
Key       Name                   Address                                                          Pref        Ord   Other     Total
HAGO   = Mr Stephen Shoubridge   Highwood Barn, Highstead Lane, Lickfold, West Sussex, GU28 9DY      A)   100,000       0   100,000
1 Entries Totalling                                                                                                         100,000
Ocean Air Distribution Limited

DEFICIENCY ACCOUNT



                                                                      £

Surplus/(deficit) on Profit and Loss Account as at 31       944,253 00
March 2009

Freehold Property                                              (753 00)
Plant & Machinery & Furniture & Equipment                  (165,305 00)
Motor Vehicles                                                16,000 00
Stock/WIP                                                  (495,664 00)
Book Debts                                                 (423,707 14)
BEKC Ltd — In liquidation                                (1,100,385 00)
VAT refund                                                     9,975 27
Insurance claim                                               10,852 95
Cash at Bank                                                129,992 80

Estimated surplus/(deficiency) on realisation of         (2,018,993 12)
assets,

Estimated profit/(loss) on trading for the period from      369,763 86
1 April 2009 to 15 February 2011

Estimated deficiency as regards Members                  £(704,976 26)



Prepared by

HARRIS LIPMAN
2 MOUNTVIEW COURT
310 FRIERN BARNET LANE
WHETSTONE
LONDON N20 0YZ




                                                                          SoS