In accordance with Rules 6.2, 6.3 & 6,5 of [ | Q 0 ? the Insolvency (England &Wiales) Rules 2016 204 Notice of statement of affairs Companies House Insalvency Act 1986, For further information, please refer to our guidance at www.gov.uk/companieshouse Company details company umber | o[ 4[ of 8| of 6 2/7 > Filling in this form Please complete in typescript or in Company name in full |K Drake Electrical Limited bold black capitals. | Liquidator’s name Full forename(s) Daniel Surname Ormerod Liquidator's address Building namefnumber | Leonard Curtis House Street | Elms Square | Bury New Road Post town Whitefield County/Region Greater Manchester roroe Country [wa [5[ [7 [TIAL Liquidator’s name © Full forenamets) Richard Ose his eeton tel! us about Surname Pinder another liquidator, 5 | Liquidator’s address © bulking ranehunber|[ {Elms Street LeonardSquare Curtis House oCanother liquidator. a sab [ Bury New Road Post town | Whitefield County/Region | Greater Manchester Postcode | M f4[5] [7[tfal | Country | . 04/17 Version 1.0 LIQO2 Notice of statement of affairs Date of statement of affairs Date Poa Pol? P2iofepa Statement of affairs | attach: Statement of affairs by the liquidator under section 95(1A) of the Insolvency Act 1986 Statement of affairs by a director under section 99(1) of the Insolvency Act 1986 [ | Statement of concurrence Sign and date Liquidator's signature Signature ol a ee Signature date Faro Foly f2forate 04/17 Version 1.0 LIQO2 Notice of statement of affairs an Presenter information | Important information You do not have to give any contact information, but if All information on this form will appear on the you do it will help Companies House if there is a query public record. on the form. The contact information you give wilt be visible to searchers of the public record, | Contact name Chirag Patel Where to send comearyam? | eonard Curtis You may return this form to any Companies House address, however for expediency we advise you ta return it to the address below: |“ Leonard Curtis House The Registrar of Companies, Companies House, | Elms Square, Bury New Road Crown Way, Cardiff, Wales, CF14 3UZ, DX 33050 Cardiff. | Whitefield me" Greater Manchester County/Region [* ui[4 [5° | [7{tfal [ i | Further information Country | For further information please see the guidance notes on the website at www.gov.uk/companieshause Telephone or email enquiries@companieshouse.gov.uk 0161 413 0930 Checklist This form is available in an We may return forms completed incorrectly or alternative format. Please visit the with information missing. forms page on the website at Please make sure you have remembered the www.gov.uk/companieshouse following: , The company name and number match the information held on the public Register. You have attached the required documents. You have signed the form. This form has been provided free of charge by Companies House, 04/17 Version 1.0 Rule 6.2-OVL Statement of Affairs Statement as to affairs of K DRAKE ELECTRICAL LIMITED on 4 July 2024 being a date not more than 14 days before the date of tha resolution for winding up Statementof truth | believe that the facts stated in this Statement of Affairs are true. | unders for contempt of court may be brought against anyone who makes, or causes tand that proceedings to be made, a false Statement in a document verifiedby a statement of truth without an honest beliefin its truth. Full name: Kevin Stephen Drake Dated: 4 July 2024 K DRAKE ELECTRICAL LIMITED APPENDIX A SUMMARY OF THE DIRECTOR'S STATEMENT OF AFFAIRS AS AT 4 JULY 2024 Book Value Estimated ta Realise Note g £ £ £ Assets Specifically Piedgead None Nil Nit lass: Amount due to fnaitce company Nil Nil Surplus / (Shortfall) cfAud, Nil Nit Assats Not Speeliically Pledged Motor Vehicle, Stock and Computer Equipment 2 3,278 4,600 - 3,275 4,600 Praterential Creditors Employee Claims / ERA 2006 Claims (est.) Nil Nil Estimated Surplus / Deficlancy 3,275. 4,600 Secondary Preferential Creditors ‘HM Revenue & Customs - Employees’ Nt (est.) Aig Nil Nil HM Ravenue & Gustoms - PAYE (est) (5,642) (6,542) HM Rovenue & Customs - VAT (est,) (23,887) (23,087) Estimated Surplus / Daliclency (26,254) _ (24,828) Not Property available for Prescribed Part Nil Nil Leas: Prescribed Part (N/a} (Nia) Available for Floating Charge Creditor Nl Nil Shortfall b/twd, {N/a) (Nia). Surplus / (Shortfall) Awd. Nil ND Add: Preacribed Part (Nia) ______. (Nia) ns Available tor Ordinary Unsecured Creditors Nil Ordinary Unsecured creditors Employee Claims / ERA 2006 Claims {est,) Nit Nil Ww H M Ravenue & Cusioms - Corp Tax (est,) Nil Nil mat wm HM Revenue & Custos — Employers' NI (ast.) Nil Nii @ Director's Loan Account fest.) (67,641) (67,641) Bounce Back Loan {ast.) (4,990) (4,990) Trade and Expense Creditors (est.) (8,798) (8,795) ao Total Ordinary Unsecured Creditors (81,426) (84,426) Estimated Deficiency as regards Creditors (107,680) (105,385) Issued and Called Up Share Capital (1) (4) Eatimated Deficlancy as regards Members (107,681) (106,356) f Signed: a aicesscacsrsesssessnesseuscrasscsavesesvvoses Date: 4 July 2024 Kevin Stephan Drake DRAKE ELECTRICAL LIMITED APPENDIX B NOTES TO THE STATEMENT OF AFFAIRS All book values have been taken from the Company's latest financial information, provided by the director, the Company's professional advisors, or from valuations obtained from independent valuation agents. It should be noted that no provision has been made for the costs of preparation of the same, the costs of convaning the decision of creditors and preparation of the statement of affairs, agents’ costs or the costs and expenses of the Liquidation. The vatuation agents that have been instructed In this matter ara Cerberus Asset Management ("CAM") who ate RICS qualified, 1, Assets Specifically Pledged There are no assets specifically pledged. Assets Not Specifically Pledged Motor Vehicle, Stock and Computer Equipment The assets mantioned in the Statement of Affairs consist of a Motor Vehicle, Stock and Camputer Equipment. The book value has been extracted from a valuation report carried out by Cerberus. Cerberus confirmed that due to the ow demand and depradiation of the asset, an offer received from Mr K Drake trading as K Drake Electrical Services, of £4,600 for all assets exceeds likely net realisations which could be achieved from any other method of sale and therefore recommendad that the offer be accepted, The propesed Joint Liquidators intend to complete the sale upon their appointment. A turther update will be provided in due course, Employee Claims / ERA'2006 Clalms (est) Where applicable, employees will be entitled to make claims (subject to certain limits) under the Employment Rights Act 2006 (ERA'2006 from ) the government department known as the Redundancy Payments Service (“RPS”). The Employee claims may include arrears of pay, holiday pay, compensation in lieu of notice and redundancy. Where applicable, the RPS will make payments directly to the employees and then the RES will then lodge a claim against the Company in respect of the payments it has made. Unless otherwise stated, Employee Claims / ERA'2006 have been estimated for the purposes of the statement of affairs and aré not considered as agreed amounts. Where applicable, a detailed list of these amounts has been provided at Appendix E. The values shown should not be regarded 4s agreed armounts. Secondary Preferential Creditors With respect to insolvencies commencing on or after 1 December 2020, HMRC will rank ahead of floating charge holders and unsecured creditors in respect of certain unpaid taxee that the relevant company collects on behalf of HMRC, These taxes are known as Priority Taxes and Include: . VAT: ‘ PAYE (Including student loan repayments): * Construction Industry Scheme deductions; and ’ Employees’ NI contributions. The liabilities to HMRC in respect of taxes that have secondary preferential status have been estimated by the Company's professional advisors as follows: ° VAT ~ £23,987 . PAYE/Employees NI- £5,542 These values should not be considered to be agreed. HMRC will remain an ordinary unsecured creditor in respect of taxes that HMRC collects directly (8.9. Corporation fax and amployers' national insurance contributions). (See note 6 below). Signed: .. fame atvossivuiayvansavciteaerisnensen Date: 4 uly 2024 Kavin Stephen Drake K DRAKE ELECTRICAL LIMITED APPENDIX B NOTES TO THE STATEMENT OF AFFAIRS (Gantinuved} §, Prescribed Part The Insolvency Act 1986 provides that, where 4 company has created a floating charge after 15 September 2003, a prescribed part of the company’s net property must be made available to the unsecured creditors and nat be distributed to the floating charge holder except in so far as it exceeds the amount required for the satisfaction of unsecured claims, The net property represents the assets available after the costs and expenses of the Insolvency procedure and the discharge of preferential creditors’ claima in full. No provision has been Inciuded within the estimalad statement of affairs regarding the costs and expenses of the insolvency procedure, The mathod of calculating the preseribed partis given below: Where the net property does nol excaed £10,000 (ihe prescribed minimum) Il may be considered that the cast of making a distribution is disproportionate to the benefits and no prescribed part is requirad to be set aside. Where the net property exceeds £10,000 the prescribed part is calculated at a value of 60% of the first £40,000 plus a furlher 20% of the net property which exceeds £10,000, Up to. a maximum prescribed part of £800,000 where the first ranking floating charge was created on or after 6 April 2020 (£600,000 if created before then), Ae there are no creditors holding a floating charge in this matter, there is no requirement io set aside & proscribed part find. 6, HM Revenue & Customs — PAYE / Employers’ Nl and Corporation Tax The iiability to HMRC has been extracted from the Gompany’s books & racords as provided by the Company's advisors. The outstanding liabllities are in respect of the following periods: PAYE / Employers’ NIC ~ £6,542 Corporation Tax — Nil 7. Director's Loan Account Oetails of the director's loan accounts have been extracted from the Company's books and racorde as provided by the Company's advisors. A detailed list of these amounts has been provided at Appendix E. The valies shown should not be regarded as agreed amounts. 8. Bourice Back Loan Datails of the Company's consumer creditors have been extracted from the Campany's baoks and records as provided by the Company's advisors, Where applicable, a detailed list of these amounts has been provided at Appendix &. The values shown should not be ragardad as agreed amounts. 4, Trade and Expense Creditors Delails of the Company's trade and expense creditors have been extracted from the Company's books and records as provided by the Company's advisors. A detailed fist of these amounts has been provided at Appendix E, The values shown should not be regarded as agreed amounts, fo Signed: LA o aie cenesuenisnee eaten Date: 4 July 2024 Kevin Stephen Draka K DRAKE ELECTRICAL LIMITED 10. Disclosure of names, addresses and liability The director is required under Section 99 of the Insolvency Act 1986, Rule 6.3 of the Insolvenny (England and Wales) Rules 2016 ("IR2018") and Rule 6.14(7) IR2016 to make out a statement of affairs delailing the Company's assets and llabllities (including employee related flabililles} and to defjiver the statement ta the Company's creditors (including employees). The IR2016 set out detailed requirements regarding the statement of affairs and its contents, These rules tequire disclosure of the names, postal addresses of, and amounts due to, all creditors {including employees) lo be appended to the statement of affairs which is circulated to creditors. The inclusion of this Information is a requirement of insolvency law. The IR2016 also requires the Liquidator to remove the schedules of employees and any consumer creditors from the slatement of affairs, which is delivered ta Companies House. These details are therefare not placed in the public domain. Signed: AA wr nersrissnsctsseacsonecsesenseces Date: 4 duty 2024 Kevin Stephen Drake K DRAKE ELECTRICAL LIMITED APPENDIX D SCHEDULE OF SHAREHOLDERS Amount = Total Called Amount Share Nominal Number Up per Called Shareholder Nama & Address Type Value Held Share Up Kevin Stephen Drake Ordinary £4 1 £4 2| 1 Stud Farm Bungalow Off Norbury Orive Mansfield, Notts NG18 4Hx Signad: .... TRPAEUFOEE DARA ESN ES UT INDI RE RSTUO MAR OAE SD ESA DAD Date: 4 July 2024 Kevin Staphen Drake K DRAKE ELECTRICAL LIMITED APPENDIX E SCHEDULES OF CREDITORS SEE ATTACHED List ei Secured Creditors — Nia Ez Consumer Creditors (Amounts Pald In Advance Of The Supply Of Goads Or Services) ~ N/a E3 Employes And Former Employee Creditors ~ Néa E4 Ordinary Unseaured Creditors (Including Hire Purchase, Chattel Leasing, Conditional Sale Agreements And Ratentlon Of Title Creditors) « See Attached Signed: pte STaDDAT TPT) love eene va veaneevcuta sner Date: 4 July 2024 Kevin Stephen Drake K Drake Electrical Limited Company Number; 04080627 STATEMENT OF AFFAIRS AS AT 4 July 2024 8 - Company Creditors Code Name & Address Amountof Details of any security held Date security —- Valua of debt £ by creditor given security £ C0007 HMRC YAT £23,987.00 BIS Neweaslle Bx9 19k C0002 HMEG PAYE £5,042.00 Employers Oijica FT Operations Noth East England HM Revernue&Customs: BXS 1BX COUGS Kevin Stephen: Drake £30,000.00 1 Stud Farm Bungalow Oil Norbury Drive Mansilekt NGO14 4HX Coo07 Seuls King & Ge £2,300,00 1? Brunts Straat Mansfield Nottingham NG18 1AX CONS HSEC Bank Pie - Overdtalt £6,900.44 Customer Credit Services PO Box 6277 Coventry CV3 GIS Co0098 HSBC Bank Pe ~ BBL £4,985,63 Customer Gradit Sanices PG Gox 6277 Coverity ONG 9/8 GOOIO HSC Bank Fle - Cradit Card £504.06 Customer Credit Services PO Box 6277 Coventry CVv3 ds TOTAL CREDITORS! CLAIM £73,313.43 Page 1 of 7 ke . ered carta edie Date: 4 July 2024 Kavi Staphe Drake