TO ALL MEMBERS AND CREDITORS
Our Ref:
24/2013/TJH/MA/Z
17 November 2014
Dear Sirs
Goman Couriers Limited – In Liquidation (“The Company”)
I am now in a position to conclude the winding up of this Company. I attach to this report my
final receipts and payments account for your information. In order to comply with Section
106 of the Insolvency Act 1986 (as amended) and Insolvency (Amendment) Rules 2010, I am
required to send a draft report to creditors eight weeks prior to the convening of final
meetings of the members and creditors. Notice of the meetings is enclosed, together with a
proxy form for you to complete and return to me.
RECEIPTS
Secured Assets
The director’s statement of affairs showed that there were book debts which were secured by
RBS Invoice Finance. These book debts had a book value of £146,358 which was estimated
to realise sum £109,768.50 before settling the outstanding lending of £84,209.37. It was
estimated that there would be a surplus of funds amounting to £25,559.13.
Following my appointment I liaised with RBS Invoice Finance who continued to collect the
book debts and in December 2013 they reassigned the remaining ledger to me and forwarded
surplus funds of £32,183.87. The director of the Company provided considerable assistance
and help in collecting the outstanding book debts.
Hire Purchase Vehicles
The director’ statement of affairs showed that there were three vehicles on hire purchase
agreements which had a nil estimated to realise value.
The vehicles were collected by their respective finance providers and I received £2,942.16 in
surplus funds.
Book Debts / Cash at Bank
As mentioned above, the book debts were secured through RBS Invoice Finance. Following
their reassignment in December 2013, further collections were made totalling £25,245.69.
The director’s statement of affairs showed cash at bank with a book value of £2,226 which
was estimated to be realisable in full. Funds were received from the bank however, upon
review of the statements the funds were debtor payments and as such the balance of
£2,471.69 is included in the realised book debts figure of £25,245.69.
Motor Vehicles
The director’s statement of affairs showed motor vehicles owned by the Company with a
book value of £27,512 which was estimated to realise £9,350.
Following my appointment, I instructed an independent valuation agent, Kumar & Company
Limited to sell the Company’s motor vehicles. The vehicles were sold to a third party for
£10,250 plus VAT with a separate sale on 3 December 2013 to the Company’s director, Mr
Brian O’Gorman for £500 plus VAT. All funds have been received in full and both sales
were recommended by my agent.
Bank Interest Gross
During the liquidation, all realisations have been banked in an interest bearing account and
the total sum of £13.02 has been received.
PAYMENTS
All payments shown on the receipts and payments account are self explanatory.
You will note that I have received £6,000 plus VAT in payment of my fee in relation to
assisting the director in preparing the statement of affairs of the Company.
Further Costs
I am required to inform creditors of any anticipated changes between both the draft and final
report to be presented at the final meeting of members and creditors.
I anticipate further costs net VAT in this liquidation to be as follows:
Payments
£
Statutory Advertising Costs
Storage Costs
Liquidators Fees
65.00
56.30
31,144.31
Total 31,265.61
Realisations
£
VAT Receivable as per R&P
Future VAT Receivable
1,280.68
7,112.07
Total
8,392.75
CREDITORS
Secured Creditor
As detailed above the only secured creditor of the Company was RBS Invoice Finance who
have been repaid in full through the debtor collections.
Preferential Creditors
There were preferential creditors in the statement of affairs estimated to be £5,000.
Since my appointment the Redundancy Payments Office approved employee claims and the
revised preferential claim amounted to £4,609.82. Preferential creditors were paid in full.
Floating Charge Creditors & Prescribed Part
There were no floating charge creditors and therefore there is no prescribed part available to
unsecured creditors.
Unsecured Creditors
Unsecured creditor’s claims as detailed on the statement of affairs of the company at the date
of the liquidation totalled £277,479.92.
To date, twenty claims have been received totalling £232,397.33.
Dividends
A preferential dividend was declared and paid on 14 May 2014 which was 100p in the £,
totalling £4,609.82.
A first and final dividend to unsecured creditors was declared on 24 June 2014 to unsecured
creditors, which was 12.29p in the £, totalling £27,995.09.
INVESTIGATIONS
As part of the Liquidator’s statutory duties, an investigation into the conduct of the directors
was completed. A confidential report was submitted to The Insolvency Service on 28 March
2014.
LIQUIDATOR’S REMUNERATION
As no liquidation committee was formed, the creditors agreed to the liquidator drawing fees
from time to time on the normal time costs of his firm.
In accordance with guidelines set out in Statement of Insolvency Practice 9, I am required to
provide details of the amount of remuneration drawn under the resolution authorising the
Liquidator to draw remuneration on a time costs basis, which was passed at a meeting of
creditors held on 30 September 2013.
Accordingly, as at 17 November 2014, my firm’s time costs were £29,085.50 representing
104.43 hours, which equates to an hourly rate of £278.52 and these can be seen on the
attached sheet entitled SIP9 – Time & Costs Summary. Further time costs of approximately
£2,500 plus VAT will be incurred in dealing with the conclusion of this matter.
The final funds held and the VAT to be recovered from HM Revenue & Customs will be
used to discharge my outstanding time costs. All additional time costs involved in the
liquidation will be written off.
The work has been categorised into the following task headings and sub-categories.




Administration and Planning: includes case planning and set-up, appointment
notification, statutory reporting, compliance, cashiering, accounting and administrative
functions.
Investigations: includes reporting on the Director's conduct, investigating antecedent
transactions and other investigations that may be deemed appropriate.
Realisation of Assets: includes identifying and securing assets, sale of business, property
issues, activities in relation to other fixed assets, stock, debtors, investments and related
legal issues.
Creditors: includes creditor set up, communications and meetings, reviewing and
agreeing preferential and unsecured claims, retention of title issues and recording and
progressing employee related claims.
The range of charge out rates for the separate categories of staff are based on the Liquidator’s
normal charge out rates. These rates are summarised below:
Grade
Partner
Manager
Administrators
Employment Rights Act Department
Cashier
Secretarial
Rate £ per hour
£225 - £345
£175 - £260
£75 - £135
£85 - £130
£85 - £130
£65-£80
The Creditor’s Guide to Liquidator’s Fees and information in respect of Creditors’ Rights to
Request information Pursuant to Rule 4.49E of the Insolvency Rules 1986 and The Rights to
Challenge the Liquidator’s Remuneration and Expenses pursuant to Rule 4.131 can be seen at
www.timothyjamespartnership.co.uk, Creditors, Liquidations.
Yours faithfully
T J Heaselgrave
Liquidator
Goman Couriers Limited – In Liquidation
NOTICE TO MEMBERS AND CREDITORS OF THE FINAL MEETING
GOMAN COURIERS LIMITED -IN LIQUIDATION
TRADING AS:
FORMER COMPANY NAMES:
COMPANY NUMBER:
APPOINTED ON:
N/A
N/A
03459501
30 SEPTEMBER 2013
Meetings of members and creditors of the above company have been summoned by the
Liquidator under Section 106 of the Insolvency Act 1986 (as amended) for the purpose of
receiving an account of the Liquidator's acts and dealings and of the conduct of the
winding up.
The meetings will be held at The Timothy James Partnership Limited, Meryll House, 57
Worcester Road, Bromsgrove, Worcestershire, B61 7DN on 16 January 2015 at 10:00am
and 10:15am respectively.
A proxy form is enclosed which must be lodged with me no later than 12.00 noon on the
business day before the meeting to entitle you to vote by proxy at the meeting. Please
return to The Timothy James Partnership, 59 Worcester Road, Bromsgrove,
Worcestershire, B61 7DN.
Registered Office:
Meryll House, 57 Worcester Street, Bromsgrove, B61 7DN
Trading Address:
Unit 58C, Arthur Street, Lakeside Industrial Estate, Redditch,
Worcestershire, B98 8JY
For information please contact T J Heaselgrave, IP Number No 9193, on 01527 839920.
-----------------------------------T J Heaselgrave
Liquidator
Dated: 17 November 2014