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Rule 4.34-CVL               The Insolvency Act 1986                                                      Form 4.20
                            Statement of Company’s Affairs
                            Pursuant to Section 95/99 of the                                   S. 95/99
                            Insolvency Act 1986


                            To the Registrar of Companies                                For Official Use



                                                                                       Company Number
                                                                                 lose12sas

                            Name of Company
(a)   Insert full name of
      company               ©) Clothesfactor21 Limited




(b)   Insert full   name    VWe ® Alex Kachan
      and address
                                     of   Crawfords Accountants LLP, Stanton House
                                          41 Blackfriars Road
                                          Salford
                                          Manchester, M3 7DB

(©)   Insert date
                            the Liquidator(s) of the above named company attach a statement of the company’s
                            affairs as at © 30 January 2015



                            Signed                (orb         >               Date: 30 January 2015




                            =                                  | 7 Ama
The presenter’s name,       Crawfords Accountants LLP                           For Official Use
address and reference       Stanton House                           Liquidat                    Pact Room
                            41 Blackfriars Road




                                                                                             'A4ONUTEQ
                                                                                          os/oareo18
                                                                                      COMPANIES HOUSE
Rule 4.34-CVL                                                                   Form 4.19

                Statement Of Affairs


                IN THE MATTER         OF CLOTHESFACTOR21              LIMITED

                and

                IN THE MATTER         OF THE INSOLVENCY ACT 1986

                Statement as to the affairs of Clothesfactor21   Limited

                on the 30 January 2015 the date of the resolution for winding up


                Statement of Truth


                I/We        Mr Asif Khushi

                of          2 Haven Bank, Bolton, BLI 8JD




                Make a Statement of Truth and say that the several pages exhibited hereto and
                marked “AK 1” are to the best of my knowledge and belief a full, true and complete
                statement as to the affairs of the above named company as at 30 January 2015 the
                date of the resolution for winding up and that the said company carried on business
                as Textile and Clothing Sales




                Signature                    bys        <


                Date                  30 January 2015
                                               IN THE MATTER OF

                                         CLOTHESFACTOR21           LIMITED




This 1s the exhibit marked   “AK 1” referred to in the Statement of Truth of Mr Asif Khushi
A~— Summary of Assets

ASSETS                                           Book Value | Estimated to
                                                                 Realise
Assets specifically pledged:-                        £              £




Assets not specifically pledged:—
Debtors (Est)                                      6,500          6,500
Cash at Bank (Est)                                 1,000          1,000




Estimated total assets available for creditors     7,500          7,500




Signature   MAD
Date              Jo ] ! ] ix

Summary of Assets (7/98)
Al - Summary of Liabilities

                                                                                    Estimated to
                                                                                       Realise

                    Estimated total assets available for                                7,500
                    creditors (from Summary of Assets)
Liabilities



Estimated surplus as regards creditors                                                  7,500
        Debts secured by a floating charge:—




Estimated surplus of assets available for non-preferential creditors                   7,500
        Non-preferential claims:—
                                                                            £
        Trade creditors per schedule                                   317,758
        Crown creditors per schedule                                      8,000
        Director’s loan account                                           6,500
                                                                                     332,258
Estimated deficiency as regards creditors                                            324,758




                                                                            £
        Issued and called-up capital:-                                          1
                                                                                               1
Estimated deficiency as regards member                                               324,759




Signature     EZ


Date            dofifrs


Summary of Liabilities (7/98)
                                      Clothesfactor21 Limited

Notes to the Statement of Affairs

1      The director advises that there are debtors totalling circa £6,500 which ts recoverable in
       full and cash at bank in the order of £1,000 The appointed Liquidator will take steps to
       realise these assets.

       The company     had some     residual stock from JSK   Fashions Limtted,   the petitioner, but
       they have collected these from the company’s premises on 22 January 2015 and a credit
       note to the value of £3,322 44 inclusive of VAT has since been received by the company.
       Accordingly, the petitioner’s clarm has been reduced by the same amount The
       petitioning cost of £2,000 has been agreed and 1s an expense of the Liquidation.

       Claims of creditors are subject to agreement in due course The amounts stated will not
       prejudice your claim which will be agreed, if appropriate, by the Liquidator in due
       course

       Section 176A of the Insolvency Act 1986 (as amended) requires the Liquidator to set
       aside a percentage of a company’s assets for the benefit of the unsecured creditors in
       cases where the company gave a “qualifying floating charge” over its assets to a lender
       on or after 15 September 2003 This 1s known as the “prescribed part of the net property.”
       A company’s net property is that left after paying the preferential creditors, but before
       paying the tender who holds a floating charge. A Liquidator has to set aside -

       * 50% of the first £10,000 of the net property, and
       * 20% of the remaining net property up to a maximum of £600,000

       There is no qualifying floating charge in this case so the prescribed part provisions do not
       apply
       Subject to the costs and expenses of the winding up.

       Subject to the verbal explanations to be given at the meeting of creditors 30 January
       2015.

       It has not been possible to prepare a deficiency account as no accounts have been
       prepared by the company However, it ts clear that the estrmated deficiency to creditors of
       £324,758 as shown on the Statement of Affairs will be the trading losses incurred by the
       company from when st first started trading from around April 2014 This loss includes
       part of the liabilities inherited from Mega Colors Limited, which was imposed by certain
       suppliers as a pre-condition of trade with this company.
                                      CLOTHESFACTOR21 LIMITED

Schedule of Trade Creditors

                                                                                                           £
Brightwise, 39 Brioughton Street, Cheetham Hill, Manchester, M8 8LZ,                                  9,991 80
Cheeky Buddha Limited, 48 Broughton Street, Cheetham Hill, Manchester, M8 8NN                        14,238 84

City Link Ltd, Business Support Centre, Barley Castle Trading Estate, Lyncastle Road, Warrington,     1,611 47
WA4 4SN
City Today Couriers Ltd, Global House, 171 Newbridge Lane, Stockport, SK1 2NX                        54,000 00

DPD UK, 15th Floor, Castlemead, Lower Castle Street, Bristol, BS1 3AG                                   $97 32

Jogo Associates Ltd, 49-51 Dale Street, Manchester, M1 2HF                                           45,089 54

JSK Fashions Ltd, Derby House, 59 Derby Street, Manchester, M8 SHW                                   10,423 80

Nova of London Ltd, Umit 17-18, Broughton Fashion Court, 32A Broughton Street, Manchester, M8         3,973 20
8NN
Partsian UK Limited, 145 Cheetham Hill Road, Manchester, M8 8LY                                      20,141 60

Peninsula Business Services Ltd, The Peninsula, Victoria Place, Manchester, M4 4FB                    6,180 00
Ref VL/CLO092
Revolution Clothing Co Ltd, 43 Julia Street, Manchester, M3   1LN                                    38,539 20

Soho London Limited, Unit 14-15 Broughton Court Fashton Park, 32A Broughton Street, Manchester,     102,200 52
M8 8NN
Young Mode (Manchester) Ltd, 21-23 Broughton Street, Cheetham Hill, Manchester, M8 8LZ               10,770 60


                                                                                                    317,757.89


Schedule of Crown Creditors

                                                                                                           £
HM   Revenue & Customs, Central National Insolvency Unit, 5th Floor, Regian House                      5,000 00
James Street_ Liverpool L751AD       Ref 191 2726 06 [VAT] (Est)

HM Revenue & Customs Durtington Brdge House, Barrington Road, Worthing, BN12 4SE                       3,000 00
Ref _475/MB09492 [PAYE/NIC] (Est)

                                                                                                       8,000.00

Director’s Loan Account

                                                                                                          £
  Asif Khushi,   2 Haven Bank, Bolton, BLI   8JD                                                       6,500 00


                                                                                                       6,500.00




 Total                                                                                              332,257.89