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                                                                                                                            Form 4 20
Rule 4 34-CVL                The Insolvency Act 1986




                                                                                          5.95/99
                             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

                                                                                                          O8N            ANTI

                             Name of Company
   {a) Insert full name of
                  company    @ Foerecss                PloPeATy            Maistenasce                            LID.
                                                                                                                                Limited



   (b} Insert full name(s)
         and address(es)
                             WWe(b) Haskins « Company, NoS tha Old fassonaye
                              Redcroft,                Winvers            Lana,           Rodintlh                BS40               5      t

           (c) Insert date   the liquidator(s) of the above-named company attach a statement of the company's affairs as
                             at(e)    1S4,   RPecembor                2oiun



                             Signed   Rol       WL      igss       —=        Date         Ss.     |     iS.


                             HAR IIIS            565 Com     PArsYy
       Presenter s name,
address and reference (if    1S        MéeiHye         arse       Roa»                                For Official Use
                                      IpazEasD




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                     any)
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     Rule 4 34-CVE.                                                                                Yorn 4.19

                               Statement of Affairs


                               Statement as to affairs of Fortress Property Maintenance Limited
                               on 18" December 2014



                               Statement of Truth

                               |, Jan Barcello, Director

                               Of Fortress Property Maintenance Limited of 26 Rowen Tree Lane, Miskin,
Lab Insert Full asutse ssl     Pontyclun, CF72 8SF
               oupation

                               Beliovo and say that tho pages marked A and B exhibited horeto are to the best of
    ws fascrt full naddress.   my knowledge and belief a full true and complete statement as to the affairs of the
                               above named company as at 18° December 2014.



                               Signed    my      DoceaeLo
              FORTRESS PROPERTY MAINTENANCE LIMITED

           DIRECTORS’ REPORT TO THE MEETING OF CREDITORS
     HELD PURSUANT TO SECTION 98-101 OF THE INSOLVENCY ACT 1986


HELD AT HAWKINS & COMPANY 115 MERTHYR MAWR ROAD BRIDGEND CF31 3NY
              ON THURSDAY 187 DECEMBER 2014 AT 10.30 AM
            FORTRESS PROPERTY MAINTENANCE LIMITED

                                CONTENTS




Statutory Information


Directors’ History of the Business and any other matters


Statement of Affairs and creditors schedule


Financial Information


Deficiency Account
                          FORTRESS PROPERTY MAINTENANCE LIMITED

                                 STATUTORY INFORMATION

Company Number                   08477714

Date of Incorporation            08/04/2013

Nature of Business               Property Maintenance

Trading addresses                26 Rowan Tree Lane
                                 Miskin
                                 Pontyclun
                                 Rhondda Cynon Taff
                                 CF72 8SF

Registered office                Hawkins and Company
                                 No 5 The Old Parsonage
                                 Redcroft
                                 Winters Lane
                                 Redhill
                                 BS40 5SL

Share Capital                    Authorised and Issued    100 ordinary shares of £1 each

Shareholding                     Jan Barcello — 100%

                                                                              Appointed
Directors                        Jan Barcello                                 08 04 2013

Secretary                        None

Auditor                          None


Chartered Accountant             Hawthorn Accountancy Solutions
                                 Sandringham House
                                 1 -—3 Cemetery Road
                                 Bridgend
                                 CF31 1LY


Mortgages/Charges                Created                 Delivered            Type

None outstanding, 1 satisfied
                        FORTRESS PROPERTY MAINTENANCE LIMITED

             DIRECTORS’ HISTORY OF THE BUSINESS AND ANY OTHER MATTERS



Background

Prior to the start of the business Jeff Barcello was Business Development Manager for a
company who supplied the home improvements industry Jan Barcello was a retired Nurse from
the National Health Service she was retired on tll health

Jeff Barcello is a highly experienced business development manager with over 20 years senior
management experience tn sales and Marketing, Jan Barcello as stated above was a Nursing
assistant with the Health service though she has experience in administrative roles in her past
career

The business originally started out as a sole trader supplying cleaning services, the decision to
take this move to a limited company was a result of their son Christopher Barcello being made
redundant during the major economic down turn with a view of creating work rather than depend
on the state In April 2013 the company was registered as a limited company and Jan Barcello
was the director of the business At this time Jeff Barcello was still working for his previous
employer and that was the reason for Jan being made director with Jeff acting as a shadow
director However in the June of 2013 Jeff was also made redundant from his senior role so it
was decided with his vast experience in sales and marketing and developing sales for
businesses he wouid join the company

Trading Premises
The company had no premises the administrative side of the business was run from home

Capital
The initial Capital was invested into the business from Jan and Jeff's own savings the initial
investment was 10k However over the period of the business the directors also invested a
further 40k with capital raised from the release of equity from their home

Banking
The initial bank the company used was Barclays Bank in Talbot Green, they changed bank in
August 2014 from Barclays to HSBC the main reason for the change was to have better
facilites, having taken advice from accountants it was identified that as a property Maintenance
Company the business required a better facility to enable the company to grow The facilities
given to the company was a 7k overdraft and a 5k loan, the loan was used to pay of an earlier
loan given to the company by Finance Wales Ltd who had a debenture on the account, HSBC
did not want this debenture in place so decided to loan the 5k to pay of Finance Wales so the
debenture was lifted, the loan was paid of directly by HSBC and did not enter the business
account
The Directors Jan and Jeff Barcello had to give personal PG Against the full amount of 12k



Staff
The Company at tts peak employed 5 staff The duties of Jeff Barcello was to develop the
business bring in a constant flow of sales (work) whilst Jan ran the administrative side of the
business
. The workforce grew due to the demand of work being brought into the company

 Trading Performance
 The company sales were growing and as such did not have any peaks and troughs as we had a
 constant flow of work coming in from the efforts of Jeff Barcello
 The reason for the downturn in business was due to the inability to find reliable and high quality
 tradesmen, Jobs were being booked in but were taking a lot longer than the allotted time given
 for the job This created a roll on effect as money was being lost because the staff were paid
 weekly so, as an example, one job should have taken 2 weeks but actually took 4 weeks
 because of staff not turning up for work In addition to this several jobs were cancelled half way
 through because the customer was not happy with the attttude and workmanship of the
 tradesmen and resulted in us having to pay deposits back All the while the company had to pay
 the staff their weekly wages this meant than Jan and Jeff Barcello had to go without paying
 themselves, tt is estimated that because of bad workmanship and unreliability the company lost
 over 14k of revenue in the space of 3 Months Even at this stage the company had plenty of
 work coming in as Jeff was constantly pushing for more work In addition to this the fact that
 neither Jan or Jeff were actual tradesmen they were totally dependent on the trades people
 taken on, Jeff was having to spend more time on site to watch staff that it meant he was unable
 to concentrate on bringing on more work which was the strength of the business
 The directors kept pushing the business forward by bringing on more work and sales but
 because they could not find reliable, hardworking and quality trades people the company was
 unable to be pulled back
 Jan and Jeff identified that because of the monies lost and lack of income due to failed work the
 company was going to struggle, they immediately contacted Mr Clive Willams of Hawkins &
 Company Insolvency Practitioners to take advice, it was from this meeting that tt was realised
 the company had become insolvent

 Insolvency Advice

 In November 2014 the directors sought advice from Hawkins and Company, who confirmed that Fortress
 Property Maintenance Limited was insolvent within the meaning of s123 of the Insolvency Act 1986 and
 should be wound up Subsequently a meeting was held on the 1°! December 2014 and the appropriate
 notices were signed and dispatched to members and creditors

 Cost associated with the liquidation

 A fee of £4,000 plus VAT and disbursements has been agreed with Hawkins and Company for assisting
 in the preparation of this report and the Statement of Affairs and convening meeting of members and
 creditors

 Other Matters

 This report and Statement of Affairs has been compiled by Hawkins and Company from the information
 provided by the directors and has been approved by the directors for circulation




 Jan Barcello - Director

 Dated   18 December 2014
FORTRESS      PROPERTY MAINTENANCE            LIMITED                                      A

Estimated Statement of Affairs as at 18'" December 2014



                                                        Notes      Book value    Estimated
                                                                                 To realise
                                                                           £          £

Estimated Summary of Assets

  Tangible assets
       Fixtures, fittings and equipment                   1           00             00

  Intangible assets
         Book debts                                                1,000         1,000
        Stock/tooling                                     2           00             00
        Cash                                                          00             00
Estimated total assets available for preferential
Creditors                                                          ___
                                                                                 1,000
Summary of Liabilities

Preferential creditors — unpaid wages & holiday pay                                900

Estimated surplus as regards preferential creditors                                 100
Unsecured claims
  Trade and expense creditors as per schedule B                                  33,539
   Notice and redundancy pay                                                          00
  HM Revenue & Customs, PAYE and VAT                                                450




Estimated deficiency as regards creditors                                        33,889
Issued and called up capital                                                        100
Estimated deficiency as regards members                                         £33,989



Subject to the costs of Liquidation


Notes:

    1    All office equipment and computers were director's own property
    2    Alltools and equipment used were tradesmen’s own property
. FORTRESS PROPERTY MAINTENANCE     LTD.

 Schedule of Creditors                                                          B


             Name of creditor                       Address                  Estimated
               Or claimant                     (with postcode)                 Claim
                                                                                    £

 AMIT BIR                         14 NAMES STREET, NEW TREDEGAR,             10,077
                                  GWENT NP24 6EN

 BARCLAYCARD COMMERCIAL           PO BOX 3000, TEESDALE BUSINESS PARK,        2,166
                                  STOCKTON ON TEES TS17 6YG

 FOLIO GRAPHICS                   14 PARK STREET, BRIDGEND, CF31 4AX            269


 HSBC BANK PLC                    3 HEOL WINDSOR, NEATH, SA11 1LN            11,600


 HAWTHORN ACCOUNTANCY             1-3 CEMETERY ROAD, BRIDGEND, CF31    1LY      992


 HUGHES      FOREST               BOLT STREET, NEWPORT, NP20 2UP              3,266


 JAMES DE FRIAS                   LLANOVER HOUSE, LLANOVER ROAD,                660
                                  PONTYPRIDD CF37 4DY

 MISKIN IT                        2 HEOL-Y-TWYN, TALBOT GREEN,                  191
                                  PONTYCLUN CF72 9FG

 MISTER WINDOW                    UNIT 1A, LONLAS INDUSTRIAL ESTATE,            387
                                  SKEWEN, NEATH SA10 6RR

 NATIONAL PLASTICS                3 IPSWICH ROAD, COLCHESTER AVENUE,            573
                                  CARDIFF CF28 9AQ

 P SHEENAN                        23 FITZHAMON AVENUE, LLANTWIT MAJOR,        1,100
                                  VALE OF GLAMORGAN CF61 1TN

 SELCO                            BOUNDARY HOUSE, 2 WITHHALL GREEN            1,293
                                  WAY, BIRMINGHAM B47 6LW

 TRADE FRAMES                     UNIT 3, JUNCTION INDUSTRIAL ESTATE,           516
                                  STATION TERRACE, PONTYCLUN CF72 9ES

 UK TRADE                         TRADE HOUSE, MEAD AVENUE,                    449
 SCREWFIX DIRECT LTD              HOUNDSTONE BUSINESS PARK, YEOVIL,
                                  SOMERSET BA22 8RT


 Summary

 Trade creditors         33,539
 PAYE & VAT                 450
                          FORTRESS PROPERTY MAINTENANCE LIMITED

                                  FINANCIAL INFORMATION


                                                 Unaudited a/c’s | Unaudited a/c’s y/e
                                                 y/e 30/04/2011            30/04/2012
                                                           £000                  £'000
Turnover
Net profit before tax
Taxation
Dividends
Director's Remuneration
Profit and loss account


NO ANNUAL ACCOUNTS OR MANAGEMENT ACCOUNTS HAVE EVER BEEN PREPARED FOR
THIS COMPANY
                            FORTRESS    PROPERTY MAINTENANCE LIMITED
                                        DEFICIENCY ACCOUNT

                                                         Notes         £           £
Balance on Profit & (Loss) account 18" December 2014

Less assets written down on Statement of Affairs:




                                                                                        0)
Less matters arising on liquidation:
None                                                                       Nil

                                                                                        0
Total Deficiency to creditors                                                           O

Balance being apparent trading profit in period to 18"
December 2014

Total Deficiency per the Statement of Affairs                                    (33,889)

Share capital                                                                       (100)

Total Deficiency to members                                                      (33,989)



NO ANNUAL ACCOUNTS OR MANAGEMENT ACCOUNTS                HAVE EVER BEEN PREPARED        FOR
THIS COMPANY