O'Donnell Developments Limited in Administration ...
Transcript of O'Donnell Developments Limited in Administration ...
PKF Accountants & business advisers
O'Donnell Developments Limited
in Administration
Administrators' Proposals
May 2012
O'Donnell Developments Limited in Administration PKF
Contents
1 Introduction 1
2 Company information and events leading to Administration 2
3 Administration strategy 4
4 Assets of the Company 5
5 Liabilities of the Company 9
6 Receipts & payments, estimated outcome and costs of Administration ....11
7 Proposed exit route from Administration 14
8 The Administrators' proposals 16
9 EC Regulation 17
10 Conclusions and recommendations 18
Appendices
A — Statutory information
B — Receipts and payments account
C — Estimated outcome statement as at 10 May 2012
D — Time costs analysis
E — A creditors' guide to fees and schedule of charge out rates
F — Statement of Administrators' proposals
G — Proof of debt
H — List of the Company's creditors
I — Management Accounts to 31 January 2012
O'Donnell Developments Limited in Administration PKF
1 Introduction 1.1
We, Ian James Gould and Edward Terence Kerr of PKF (UK) LLP ("PKF"), were appointed
Joint Administrators of O'Donnell Developments Limited ("the Company") by National
Westminster Bank plc ("the Bank") on 22 March 2012.
1.2 These proposals are prepared pursuant to Paragraph 49 of Schedule B1 of the Insolvency
Act 1986 ("the Act") and Rule 2.33 of the Insolvency Rules 1986 ("the Rules").
1.3 Form 2.17B, Statement of Administrators' proposals is attached at Appendix F.
No meeting of creditors to be held
1.4 Based on current information, we have concluded that there will not be suffcient funds
available in the Administration to make a distribution to unsecured non-preferential
creditors. Therefore, in accordance with Paragraph 52(2) of the Schedule, we do not intend
to summon a meeting of the Company's creditors.
1.5 In accordance with paragraphs 52(2)-(4) of the Schedule we will summon a formal creditors
meeting if it is requested by a creditor or a number of creditors of the Company whose
debt(s) amount to at least 10% of the total debts of the Company, and provided that such a
request is made in the prescribed manner and within the prescribed period as set out under
the aforementioned Rule.
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2 Company information and events leading to Administration
2.1 The Company was incorporated on 30 April 1991. The Company's statutory information is
attached at Appendix A.
2.2 The Company operated as building and civil engineering contractors, based in Stechford,
Birmingham.
2.3 The Company was controlled and operated on a day to day basis by Patrick O'Donnell and
Paul O'Donnell ("the Directors"), and employed around 175 other employees and sub-
contractors.
2.4 We understand that the Company has been historically profitable; however the management
accounts for the year to date showed that the Company has recently made significant
losses, predominantly in the 3 months to 31 January 2012, where a net loss of over
£750,000 was recorded.
2.5 The Company has recently encountered a dispute with one of its contract employers, which
had a significant detrimental effect on the Company's cash flow. This led to the Directors'
decision that the Company was unable to continue to trade and that steps should be taken to
place the Company into Administration.
2.6 The Bank issued a Notice of Appointment in its capacity as a qualifying chargeholder, and
this Notice was filed on 22 March 2012 in the High Court of Justice, Chancery Division,
Birmingham District Registry, case number 8167 of 2012.
2.7 For the purposes of Paragraph 100 of Schedule B1 of the Act, we confirm that as Joint
Administrators, we are authorised to carry out all functions, duties and powers by each of us,
joint and severally.
2.8 Pursuant to Paragraph 3(1) of Schedule B1 of the Act, we are required to perform our
functions with the objective of:
• rescuing the Company as a going concern, or
• achieving a better result of the Company's creditors as a whole than would be likely if
the Company were wound up (without first being in Administration), or
• realising property in order to make a distribution to one or more secured or preferential
creditors.
2.9 The first objective will not be achieved due to the extent of the Company's liabilities.
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2.10 We consider that the second objective will not be achieved. Although we have been able to
secure monies due in respect of work in progress, as discussed in section 4 of this report,
which would not have been received in a winding up, this will not improve the result for
creditors as a whole.
2.11 The third objective will be achieved as distributions will be made to the sank under its' fixed
and floating charges and it is anticipated that the preferential creditors will be paid in full.
2.12 The strategy adopted by us with a view to achieving one or more of the objectives referred to
above is discussed in Section 3 below.
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3 Administration strategy 3.1 Following our appointment, we instructed Naismiths Limited quantity surveyors ("Naismiths")
in respect of the work in progress ("the Contracts") and book debts.
3.2 In addition, Edward Symmons LLP ("Edward Synnnnons") were appointed as chattel agents
and Colliers International ("Colliers") were appointed as property agents.
3.3 We conducted a full review of the Contracts with Naismiths. It was established that the
Company had four ongoing Contracts, including one at Aston University ("Aston Contract").
Whilst it was not viable to continue to trade the Company in Administration due to the lack of
funding and absence of any interested parties, it was apparent that, in order to protect the
value in the Aston contract, some of the work in progress would need to be completed.
3.4 It was our intention to maximise the return from the Aston Contract and the other three
ongoing contracts. As a result, eight employees were retained following appointment.
Negotiations immediately commenced with the main contractor in respect of the work in
progress as the Company's employment on the Aston Contract had terminated immediately
upon our appointment.
3.5 The realisations from the work in progress as a result of completing the same are discussed
in section 4 of this report.
3.6 Since the date of appointment, we have received a number of reservation of title claims from
creditors of the Company. These claims have been, or are in the process of being, resolved.
3.7 It is anticipated that the completion of the Administration will lead to the dissolution of the
Company.
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4 Assets of the Company
Statement of affairs
4.1 A statement of affairs has been requested from the directors. To date the formal document
has not been received and a time extension has been granted. It is anticipated that this
document will be received in the next week or so. Any creditor wishing to receive a copy of
this document should e-mail [email protected] and a copy will be dispatched (free of
charge) once it has been received.
4.2 However, we have produced an estimated outcome statement, which can be found at
Appendix C to this report. In addition, we attach a copy of the Company's management
accounts to 31 January 2012 at Appendix I, to comply with Rule 2.33(2)(j) of the Rules.
4.3 In addition, to comply with Rule 2.33(2)(h) of the Rules, a list of the Company's known
creditors is attached at Appendix H.
The Property
4.4 The Company owns the entire estate at Riverside Drive, Stechford, on which its head office
is based, comprising three separate office buildings and a yard ("the Property"). The other
units on the estate are leased to the National Health Service ("NHS") and HM Plant Limited
("Hitachi"). These leases have one and three years to run respectively.
4.5 Following our appointment, we instructed Colliers to review the Property, provide valuation
advice and provide a marketing strategy.
4.6 We have not yet received the formal valuation, however, for the purposes of this report only,
we have been prudent and assumed realisations of £900,000.
4.7 The Company is responsible for maintenance costs in relation to the Property. Whilst we are
still investigating the likely quantum of these costs, we have, for the purposes of the
estimated outcome statement at Appendix C, estimated that they are likely to be in the
region of El 0,000. Colliers have confirmed that this provision should be more than sufficient.
4.8 If, after completion of all other matters in the Administration, the Property remains unsold,
then we will consider whether the appointment of Law of Property Act Receivers over the
Property would constitute a more appropriate way to continue with the realisation of the
same.
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Trading to complete work in progress
4.9 We attended numerous meetings and site visits in respect of the Aston Contract. The main
contractor notified us that the Company's employment had terminated upon the appointment
of Administrators and advised us that they had a number of counter-claims and disputes in
respect of the Aston Contract.
4.10 We reached a formal settlement agreement dated 29 March 2012 ("the Agreement"),
whereby we agreed to continue to supply the materials required to continue and complete
the Aston Contract. Without the Agreement, we would have had difficulty recovering any
assets or funds in respect of the Aston Contract.
4.11 As part of the Agreement, we are effecting the return of the Company's formwork (temporary
moulds and specialist aluminium scaffolding into which concrete is poured, together with 3
tonne wind shields and other associated equipment) which form part of the Aston Contract.
4.12 It is anticipated that, as a result of the trading undertaken by us, the work in progress and
formwork will lead to gross realisations of £350,000, with a trading profit of approximately
£101,000.
Ongoing Contracts
4.13 The remaining three ongoing contracts were reviewed by Naismiths. It was established that
there would be no benefit to the Administration in completing these contracts, due to the
costs to complete, together with likely counter-claims from the employer.
4.14 As a result, Naismiths advised that a novation of these contracts offered the best opportunity
for realisations. DSM Demolition Group ("DSM") expressed an interest in taking over these
contracts and, on the advice of Naismiths, an offer of £175,000 was accepted from DSM.
4.15 To date, £70,000 has been received in respect of the contract novation, with the remainder
due to be paid in June 2012.
4.16 As part of this agreement, certain intellectual property was sold to DSM for £20,000,
payment for which has been received in full. The value of this intellectual property, in the
absence of the agreement with DSM, would have been zero.
Book debts
4.17 The book debts, relating to retentions on completed contracts, have been reviewed by
Naismiths.
4.18 Naismiths have been instructed to recover all outstanding sums. Naismiths have advised,
however, that the majority of debtors will have counter-claims for defects and lack of
warranties, meaning realisations of approximately £25,000 are anticipated in total.
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Plant & machinery and motor vehicles
4.19 Edward Symmons have advised us that the strategy likely to yield the highest proceeds in
respect of the plant & machinery and motor vehicles is to sell by way of an online auction. As
a result, these assets have been retrieved and stored in the yard located at Riverside Drive,
Stechford and have been lotted up ready for an auction. The auction is due to complete on
15 May 2012, with expected realisations from these assets of £168,000.
4.20 In addition, a number of hire purchase companies supplied equipment to the Company.
Edward Symmons have valued the equity in these assets at some £56,000 and have
reached provisional agreements with the relevant companies to sell these assets through the
auction above, settling the outstanding accounts with the proceeds and remitting the net
balance to us.
4.21 Certain assets, including an excavator and a fork lift truck, have been excluded from the
auction at this stage as they are required for use in connection with the return of the
formwork, as detailed in section 4.11. The realisable value of these assets is included in the
above estimates.
Furniture and equipment
4.22 As part of the agreement in respect of the contracts outlined in Section 4.14, the majority of
the furniture and equipment was sold to DSM for £10,000, following confirmation from
Edward Symmons that this offer was acceptable. This sum has been received in full.
4.23 The remaining assets will be sold in the online auction on 15 May 2012, together with the
plant & machinery and motor vehicles.
Rent receivable
4.24 The Company receives net quarterly rent of £26,821 from NHS and Hitachi in respect of the
units at Riverside Drive, Stechford. The payments due in March 2012 have been received
and, for the purposes of this report, we have assumed that three further quarters' rent will be
received prior to a sale of the Property being effected.
4.25 If the Property remains unsold after this time, then additional rent will be receivable over and
above that shown in the estimated outcome statement.
4.26 We have made provision for Corporation Tax payable in respect of the rent receivable,
although we will review the position to ascertain whether there is any loss which can be
offset against this sum .
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Other assets
4.27 We are not aware of any other assets of the Company which have not already been referred
to elsewhere in this report. Once the final directors statement of affairs has been received,
we will compare this document to the Company's accounting records to ensure that asset
realisations are maximised.
Fixed and floating charge assets
4.28 As discussed below in Section 5, the Bank has the benefit of three charges, each conferring
either fixed, floating or both charges over certain assets or the whole of the Company and its
undertaking.
4.29 To the extent that any amounts are realised, we consider that realisations in respect of the
Company's intellectual property and freehold property will be subject to the fixed charge
security, whereas realisations in respect of any other assets discussed above will be subject
to floating charge security.
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5 Liabilities of the Company
Secured creditors
5.1 According to the records maintained by the Registrar of Companies, the Company has
granted the following charges and debenture to the Bank:
• A legal mortgage over the freehold property known as land at Albert Road, Stechford
created on 29 May 1998 and registered at Companies House on 10 June 1998.
• A debenture conferring fixed and floating charges over the whole of the Company and its
undertaking created on 7 February 2001 and registered at Companies House on 10
February 2001.
• A legal charge over Globe Works at 206 / 210 Barford Street, Birmingham created on 11
October 2005 and registered at Companies House on 18 October 2005
5.2 Our legal advisors have confirmed the validity of the Bank's charges.
5.3 At the date of Administration, the Bank were owed the sum of £1,252,000, subject to final
interest and charges.
5.4 Based on current information, it is anticipated that there will be a return to the Bank under
both its' fixed and floating charges.
Employee claims
5.5 The Company had 177 employees and subcontractors as at 22 March 2012, who were each
owed at least one week's wages, plus accrued holiday pay.
5.6 Based on the claims received to date, preferential creditors total some £195,000, It is
anticipated, however, that once all outstanding claims are received, this sum will increase to
around £200,000.
5.7 There is a complication in that a number of employees were moved to subcontractor
contracts a few months before our appointment and have claims for unpaid amounts. We are
currently investigating whether any of these arrears will amount to preferential claims against
the Company.
5.8 The claims for arrears of pay and holiday pay are considered to rank as unsecured
preferential creditor claims. Based on current information, it would appear that the
employees' claims which rank as preferential creditors will be repaid in full. Those claims
which rank as unsecured non-preferential creditor claims are discussed below.
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Prescribed part
5.9 Section 176A of the Insolvency Act 1986 requires administrators to set aside a prescribed
amount of the Company's "net property" towards the satisfaction of unsecured debts. Net
property is the amount of property that would otherwise be available for satisfaction of
holders of debentures secured by, or holders of, any floating charge created by the
Company on or after 15 September 2003.
5.10 As the Bank's debenture over the assets of the Company is dated prior to 15 September
2003, the prescribed part will not apply in this case.
Unsecured non-preferential creditors
5.11 The Company records show that at the date of appointment, the total outstanding to the
Company's trade and expense creditors was £2,456,037.
5.12 The employees' unsecured claims total £846,121, and relate to pay in lieu of notice and
redundancy pay, together with arrears of wages over and above the statutory limit.
5.13 Based on current information, there will be no funds available to enable a return to the
unsecured non-preferential creditors.
5.14 The above estimates do not include any claims in respect of breach of contract, defects
liability or other such claims which may be brought against the Company.
Crown Creditor — HM Revenue & Customs
5.15 A provisional claim totalling £375,999 has been received in respect of the Revenue's claim
for VAT and PAYE / NIC.
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6 Receipts & payments, estimated outcome and costs of Administration
Receipts and payments account
6.1 Attached at Appendix B is a receipts and payments account to 10 May 2012.
Estimated outcome statement
6.2 An estimated outcome statement as at 10 May 2012 is attached at Appendix C. The
estimated outcome statement shows that, based on current information, there will not be a
return to unsecured creditors in this matter.
6.3 The estimated outcome statement includes our estimate for the costs associated in dealing
with the Company's affairs.
Pre-administration costs
6.4 Time costs up to the date of our appointment on 22 March 2012 amount to £1,307 which
represents 5.35 hours at an average hourly rate of £244. To date, no fees have been
charged in respect of our pre-appointment costs.
6.5 This work included the following:
• reviewing the contracts and work in progress to ascertain the viability of ongoing
trading;
• liaising with agents with regards to the value and disposal prospects of the
Company's chattel assets;
assistance in commencing formal insolvency proceedings;
advice regarding the Company's financial position and the options available;
6.6 The payment of unpaid pre-administration costs as an expense of the Administration is
subject to approval in accordance with Rule 2.67(A). A request is put to the relevant creditors
under separate cover.
6.7 The Administrators do not propose to draw a fee for any pre-appointment work nor any
expenses incurred prior to appointment as allowed pursuant to Rule 2.67A of the Rules.
6.8 The directors of the Company had previously received advice from Poppleton & Appleby
("P&A") prior to our appointment. P&A are seeking to recover their costs of £4,050, plus
disbursements of £835, plus VAT from the Administration.
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Costs of administration
6.9 Our time costs from the date of our appointment to 4 May 2012 amount to £96,277 which
represents 439 hours at an average hourly rate of £218. No fees have been drawn to date in
respect of these amounts and approval for the basis of our remuneration will be sought from
the Bank and preferential creditors, as advised in section 6.13 below.
6.10 We enclose at Appendix D full details of the Administrators time costs in this matter up to
4 May 2012, in accordance with Statement of Insolvency Practice No 9. These amounts are
derived by reference to PKF (UK) LLP's normal rates for time properly given by us and our
staff in attending to matters arising in the Administration. Where members of staff have been
employed on the Administration they have been so based on their experience and abilities in
dealing with a case of this nature. Where appropriate, certain staff have dealt with a specific
area of the Administration due to their specialist skills in that area. We would advise that PKF
(UK) LLP's scale rates increase from time to time over the period of the administration of
each insolvency.
6.11 Attached at Appendix E are details of how to obtain an extract from the Statement of
Insolvency Practice 9, A Creditors' Guide to Administrators' fees. A summary of PKF (UK)
LLP's charge out rates are also attached at Appendix E.
6.12 We are entitled to receive remuneration for our services as Administrators. As per Rule
2.106(2) of the Rules our remuneration shall be fixed either:
a. as a percentage of the value of the property with which we have to deal; or
b. by reference to the time properly given by the Administrators and their staff in attending
to matters arising in the administration; or
c. based on a set amount; or
d. based on a combination of any of the above as per Rule 2.106(3A).
6.13 We propose to receive remuneration under part (b) of Rule 2.106(2).
6.14 As previously stated, we do not anticipate that there will be sufficient funds available to
enable a distribution to the unsecured creditors of the Company. Therefore, in accordance
with Rule 2.106(5A) approval of our remuneration will be sought from the secured creditor of
the Company and preferential creditors whose debts amount to more than 50% of the
preferential debts of the Company, disregarding debts of any creditor who does not respond
to an invitation to give or withhold approval.
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6.15 Our disbursements to date total £69,120
Disbursement
Quantity Surveyors Fees
Direct Labour
ROT Stock
Bank Charges
Security Costs
Statutory Advertising
insurance
HP Settlement
Legal Fees
Rent
and comprise:
Category 1 Category 2
£ £
_ 5,000
17,069
_ 9,959
- 30
- 11,795
- 70
- 216
- 2,699
10,582
_ 11,700
- 69,120
6.16 All category 1 disbursements are charged at the actual cost incurred.
6.17 Category 1 disbursements will generally comprise external supplies of incidental services
specifically identifiable to the case, typically for items such as identifiable telephone calls,
postage, advertising, invoiced travel and properly reimbursed expenses incurred by
personnel in connection with the case. Also included will be services specific to the case
where these cannot practically be provided internally such as printing, room hire and
document storage.
6.18 Category 2 disbursements will comprise cost allocations which may arise on some of the
category 1 expense where supplied internally: typically, items such as room hire and
document storage. Also typically included will be routine or more specialist copying and
printing, and allocated communication costs.
6.19 We will write to the secured and preferential creditors regarding their agreement to the basis
and payment of the Administrators' remuneration and disbursements.
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7 Proposed exit route from Administration
7.1 Once all assets have been realised, we anticipate that we will have realised property in order
to be in a position to make a distribution to the secured or preferential creditors.
7.2 The Administrators propose the following three exit routes from Administration be
considered:
(i) In the event that there are sufficient funds available to enable a return to the
unsecured creditors of the Company, the Administrators be empowered to place the
Company into Creditors' Voluntary Liquidation, seeking their own appointment as
Liquidators of the Company. In accordance with paragraph 83(7) of Schedule B1 to
the Insolvency Act 1986 and Rule 2.117A (2) of the Insolvency Rules 1986, creditors
may nominate different persons as the proposed Joint Liquidators. All valid
nominations must be made before the proposals are approved, with or without
modifications. In this event and under rule 4.127(5A) the basis of remuneration fixed
in the Administration will apply in the subsequent liquidation; or
(ii) subject to the provisions of Paragraph 79 of Schedule B1 of the Insolvency Act 1986
an application will be made to the court to end the Administration and for the Company
to be compulsorily wound-up. The Administrators may, if they so desire, request that
they be appointed liquidators. in this event and under rule 4.127(5A) the basis of
remuneration fixed in the Administration will apply in the subsequent liquidation; or
(iii) in the event that exit routes (i) and (ii) above are inappropriate or unavailable, the
Joint Administrators be empowered to make the necessary arrangements for the
Company to be dissolved and removed from the Companies Register.
7.3 In accordance with Paragraph 52(1) (b) of Schedule B1 of the Act, we believe that the
Company has insufficient property to enable a distribution to unsecured creditors.
7.4 By virtue of the above statement, we do not propose to convene a formal creditors meeting.
7.5 In accordance with Paragraph 52(2) of Schedule B1 of the Act and Rule 2.37 of the
Insolvency Act 1986, we shall summon a formal creditors meeting if it is requested:
• by creditors of the Company whose debts amount to at least 10% of the total debts of
the Company,
• in the prescribed manner, and,
• in the prescribed period.
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7.6 In the event that insufficient requests are received, our Proposals' will be deemed to have
been approved on 24 May 2012.
Administrators' discharge
7.7 It is standard practice for Administrators to seek a discharge from liability for any action
taken by them during the course of an Administration, following the termination of the
administration.
7.8 Granting our discharge does not prevent any creditor of the Company from applying to Court
(under Paragraph 75 of Schedule B1 to the Insolvency Act 1986) for permission to bring
proceedings against us if any such party believes that our conduct as Joint Administrators
has breached our duties in relation to the Company or has otherwise made us guilty of
misfeasance.
7.9 We are not currently aware of any issue that may result in such an application to Court.
7.10 For the avoidance of doubt, granting us our discharge prior to the termination of the
Administration does not discharge our liability, until the termination is effective.
7.11 A resolution seeking our discharge forms part of the Administrators' Proposals, discussed in
more detail in Section 8.
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8 The Administrators' proposals
8.1 In accordance with Paragraph 49 of Schedule B1 of the Act, we make the following
proposals to the creditors:
0
the Joint Administrators do all such things and generally exercise all of their powers as
administrators contained in Schedule 1 of the Insolvency Act 1986, as they in their
discretion consider desirable or expedient in order to achieve the purposes of the
administration, to protect and preserve the assets of the Company or maximise the
realisation of those assets or for any purpose incidental to these proposals.
(ii) the Joint Administrators be discharged from liability in accordance with Paragraph 98
of Schedule B1 of the Insolvency Act 1986, 28 days after filing their final progress
report in the Administration.
(iii) That the Administrators, at their sole discretion and at a time they see fit, are
empowered to either:
• File the necessary returns at Court and with the Registrar of Companies to place the
Company into creditors voluntary liquidation pursuant to Paragraph 83 of Schedule
B1 of the Insolvency Act 1986 and that Ian James Gould and Edward Terence Kerr
be appointed Joint Liquidators, or any other person(s) be appointed Liquidator(s) of
the Company in accordance with Paragraph 83(7) of the same, or;
• Make application to Court to end the Administration pursuant to Paragraph 79 of
Schedule B1 of the Insolvency Act 1986, following which, the Administrators request
that the Company be Compulsorily wound-up and Ian James Gould and Edward
Terence Kerr be appointed Joint Liquidators if they so desire, or;
• File the necessary documents with the Court and with the Registrar of Companies to
dissolve the Company pursuant to Paragraph 84 of Schedule B1 of the Insolvency
Act 1986.
8.2 In accordance with Rule 2.33(5) and Rule 2.37(1) of the Rules, the above proposals will
deem to have been approved unless sufficient requests for an initial creditors' meeting are
received by 24 May 2012.
8.3 Attached at Appendix G is a proof of debt form for creditors' submission.
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9 EC Regulation 9.1 The EC Regulation does apply to these proceedings as the registered office of the Company
at the date of Administration was 14 Riverside Drive, Stechford, Birmingham B33 9BF.
9.2 These proceedings are main proceedings as defined in Article 3 of the EC Regulations.
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10 Conclusions and recommendations
10.1 As discussed earlier in this report, based on current information there will not be a return to
unsecured non preferential creditors in this matter. Therefore, we do not propose to convene
a creditors meeting.
10.2 We propose three possible exit routes from the Administration, either of which can be
implemented once the outcome for creditors is known with a greater degree of certainty.
10.3 Should any creditor require any additional information or have any queries, they should
contact Ben Peterson, on + 44(0) 115 960 8171.
Ian J Gould For and behalf of Ian J Gould and Edward T Kerr Joint Administrators
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Appendix A — Statutory information
Detail of the Court
Full name
Company number
Registered office
Administrators
Date of incorporation
Trading activities
Trading address
Issued share capital
Shareholders
The High Court of Justice, Chancery Division, Birmingham District Registry. Case reference: 8167 of 2012
O'Donnell Developments Limited
02606227
At the date of Administration, the Company's registered office was situated at 14 Riverside Drive, Stechford, Birmingham B33 9BF
For the purposes of the Administration, the Company's registered office was changed to the office of PKF (UK) LLP, New Guild House, 45 Great Charles Street, Queensway, Birmingham B3 2LX
Ian James Gould and Edward Terence Kerr PKF (UK) LLP New Guild House 45 Great Charles Street Queensway Birmingham B3 2LX
IP numbers: 7866 and 9021
The Joint Administrators were appointed on 22 March 2012 by National Westminster Bank plc.
For the purposes of Paragraph 100 of Schedule B1 of the Act, the Joint Administrators are authorised to carry out all functions, duties and powers by each of them, joint and severally.
30 April 1991
General construction and civil engineering
14 Riverside Drive, Stechford, Birmingham B33 9BF
Ordinary shares of E1 each 5,000
Paul Anthony O'Donnell Bridgette O'Donnell Patrick Joseph O'Donnell Senior Patrick Joseph O'Donnell Junior
1,500 1,000 1,000 1,500
5,000
Company directors'
Name
Appointed Resigned Paul Anthony O'Donnell
30.04.1991 Patrick Joseph O'Donnell Senior
30.04.1991
Patrick Joseph O'Donnell Junior
28.02.1994
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Company secretary
Company's bankers
Registered charges
Name Margaret Christine Durkan Paul Anthony O'Donnell
The Company's bankers were National
National Westminster Bank plc has the
Appointed Resigned 22.09.1999 30.04.1991
22.09.1999
Westminster Bank Plc.
benefit of the following charges:
Legal Mortgage created on 29 May 1998 and registered on 10 June 1998. Debenture created on 7 February 2001 and registered on 10 February 2001. Legal Charge created on 11 October 2005 and registered on 18 October 2005.
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Appendix B — Receipts and payments account
May 2012
O'Donnell Developments Limited (In Administration)
Joint Administrators' Trading Account
Statement From 22/03/2012 From 2210312012 of Affairs To 1010512012 To 10/05/2012
POST APPOINTMENT SALES Sales 200,000.00 200,000.00
200,000.00 200,000.00
PURCHASES Reservation of Title Stock 9,959.26 9,959.26
(9,959.26) (9,959.26)
OTHER DIRECT COSTS Direct Labour 17,068.86 17,068.86
(17,068.86) (17,068.86)
TRADING EXPENDITURE Security Costs 11,795.00 11,795.00 Rents Payable 11,700.00 11,700.00
(23,495.00) (23,495.00)
TRADING SURPLUS/(DEFICIT) 149,476.88 149,476.88
Page 1 of 2 IPS SQL Ver. 5.04
O'Donnell Developments Limited (In Administration)
Joint Administrators' Abstract of Receipts & Payments
Statement From 22103/2012 From 22/03/2012 of Affairs To 10/05/2012 To 10/05/2012
GENERAL FIXED CHARGE Insurance of Assets 216.24 216.24
(216.24) (216.24)
PLANT & MACHINERY HP Settlement 2,699.33 2,699.33
(2,699.33) (2,699.33)
ASSET REALISATIONS Intellectual Property 20,000.00 20,000.00 Furniture & Equipment 10,000.00 10,000.00 Rent 26,820.73 26,820.73 Novation of Contracts 70,000.00 70,000.00 Bank Interest Net of Tax 0.10 0.10 Trading Surplus/(Deficit) 149,476.88 149,476.88
276,297.71 276,297.71
COST OF REALISATIONS Quantity Surveyors Fees 5,000.00 5,000.00 Legal Fees 10,582.15 10,582.15 Statutory Advertising 69.75 69.75 Bank Charges 29.55 29.55
(15,681.45) (15,681.45)
257,700.69 257,700.69
REPRESENTED BY VAT Receivable 9,810,24 Bank 2 - Fixed Ac 9,033.00 Bank 1 - Floating Ac 296,529.67 VAT Payable (65,079.76) Wages Control Account 7,407.54
257,700.69
Page 2 of 2 IPS SQL Var. 5.04
O'Donnell Developments Limited in Administration
PKF
Appendix C — Estimated outcome statement as at 10 May 2012
May 2012
O'Donnell Developments Limited - In Administration Estimated outcome statement as at 10 May 2012
Realised/ Paid
To Date
Future Realisations /
Costs Estimated Outcome
Assets subject to fixed charge £ £ £
Property 0 900,000 900,000 Intellectual Property 20,000 0 20,000 Total fixed charge realisations 20,000 900,000 920,000
Costs Administrators' fees 0 0 0 Legal fees and disbursements 0 (15,000) (15,000) Colliers 0 (20,000) (20,000) Insurance (216) (5,000) (5,216) Property Expenses 0 (10,000) (10,000)
(216) (50,000) (50,216)
Available to the Bank under the fixed charge 19,784 850,000 869,784
Trading Barn Contract 200,000 0 200,000 Barn Formwork 0 150,000 150,000
200,000 150,000 350,000 Trading Costs Administrators Fees 0 (85,000) (85,000) Agents Fees & Disbs 0 (25,000) (25,000) Rent - Plume Street (11,700) (23,400) (35,100) Wages / Tax / NI (17,069) (24,775) (41,844) Security (11,795) (19,957) (31,752) Utilities / Machinery Expenses / ROT (9,959) (10,199) (20,158) Contingency 0 (10,000) (10,000)
(50,523) (198,331) (248,854)
Trading Surplus / (Deficit) 149,477 (48,331) 101,146
Assets subject to floating charge Trading Surplus 149,477 (48,331) 101,146 Contract Novation 70,000 105,000 175,000 Book Debts 0 25,000 25,000 Plant and machinery 0 115,000 115,000 Formwork / Materials at Yard 0 104,500 104,500 Office Furniture and equipment 10,000 1,000 11,000 Motor vehicles 0 53,000 53,000 Assets Subject to HP (net) (2,699) 59,113 56,414 Rent Receivable 26,821 80,463 107,284
253,599 494,745 748,344
Costs Administrators' fees 0 (45,000) (45,000) Administrators' disbursements (70) (5,000) (5,070) Legal fees and disbursements (10,582) (14,418) (25,000) Preparation of statement of affairs 0 (2,500) (2,500) Naismiths fees (5,000) (5,000) (10,000) Edward Symmons Fees / Costs 0 (25,000) (25,000) Rates / Utilities / Contingency 0 (15,000) (15,000) Insurance 0 (12,000) (12,000) Corporation Tax 0 (23,602) (23,602) Bank Charges (30) 0 (30)
(15,682) (147,520) (163,202) Available to preferential creditors 237,917 347,225 585,142
Preferential creditors 0 (200,000) (200,000)
Net property 237,917 147,225 385,142
Prescribed part funds 0
Available to the Bank under the floating charge 385,142
O'Donnell Developments Limited in Administration PKF
Appendix D — Time costs analysis
May 2012
SIP9 Analysis of OfficeHolders Timecosts as at 4 May 2012 O'Donnell Developments Ltd - In Administration
Grade: Partner / Director Manager
Average Cost per hour: £360.00 £249.00
Tasks Amount (£) Hours Amount (£) Hours
Supervisor! Senior Administrator
- 11 74.00
Amount (E) Hours
Administrator! Assistant
£113.00
Amount (£) Hours
Total
£220.00
Amount (£) Hours Partner/Senior Manager Review 567.00 1.40 0.00 0.00 0.00 0.00 0.00 0.00 567.00 1.40 Planning & Monitoring 2,185.00 6.00 2,936.40 11.90 665.00 3.80 0.00 0.00 5,786.40 21.70 Time Summaries & Billing 0.00 0.00 0.00 0.00 70.00 0.40 0.00 0.00 70.00 0.40 Cashiering Function Generally 386.05 1.05 411.60 1.60 494.00 2.90 544.05 4.85 1,835.70 10.40 Dividends & Distributions 20.25 0.05 0.00 0.00 0.00 0.00 0.00 0.00 20.25 0.05 Office Holders Tax Liabilities 81.00 0.20 0.00 0.00 35.00 0.20 39.60 0.60 155.60 1.00 CDDA 1986 Work 243.00 0.60 49.20 0.20 105.00 0.60 0.00 0.00 397.20 1.40 Secured Creditors (reporting/accounting for funds, etc) 1,235.90 3.10 2,887.20 11.70 35.00 0.20 0.00 0.00 4,158.10 15.00 Partly Secured Creditors (including of lease and HP) 92.10 0.30 1,069.20 4.20 542.50 3.10 26.40 0.20 1,730.20 7.80 Non Preferential Creditors 122.80 0.40 225.90 0.90 924.50 5.30 158.40 1.20 1,431.60 7.80 Employee Claims 1,129.40 3.20 2,448.90 9.90 7,708.75 44.05 10,136.40 89.30 21,423.45 146.45 Fixed Asset Realisation 1,583.40 4.20 796.20 3.20 507.50 2.90 92.40 0.70 2,979.50 11.00
Stock Realisations 5,219.00 17.00 0.00 0.00 980.00 5.60 39.60 0.30 6,238.60 22.90 Book Debt Realisations 3,405.90 8.70 6,069.60 24.60 0.00 0.00 0.00 0.00 9,475.50 33.30 Other Asset Realisations 162.00 0.40 4,933.80 19.80 192.50 1.10 0.00 0.00 5,288.30 21.30 Post Appontment Trading 5,101.00 13.20 16,780.80 67.30 595.00 3.40 26,40 0.20 22,503.20 84.10 Insurance & Bonding 368.40 1.20 2,842.50 11.50 1,557.50 8.90 15.50 0.30 4,783.90 21.90 Legal Correspondence/Litigation 1,481.50 3.90 270.60 1.10 0.00 0.00 0,00 0.00 1,752.10 5.00 General Administration 304.40 0.80 0.00 0.00 885.00 5.10 0.00 0.00 1,189.40 5.90 Statutory Compliance (including CRO returns and lodge' 787.10 2.50 602.10 2.10 1,070.00 6.65 118.80 0.90 2,578.00 12.15
Pre Appointment Work (including investigation work) 283.50 0.70 0.00 0.00 0.00 0.00 0.00 0.00 283.50 0.70 Computerisation/IPS 0.00 0.00 0.00 0.00 0.00 0.00 85.00 1.00 85.00 1.00
Liasing with Agents/Solicitors/Other Professionals 202.50 0.50 0.00 0.00 0.00 0.00 0.00 0.00 202.50 0.50
ROT Claims 0.00 0.00 1,341.90 5.40 0.00 0.00 0.00 0.00 1,341.90 5.40
24,961.20 69.40 43,665.90 175.40 16,367.25 94.20 11,282.55 99.55 96,276.90 438.55
O'Donnell Developments Limited in Administration PKF
Appendix E A creditors' guide to fees and schedule of charge out rates A creditors' guide to fees, which provides information regarding creditors' rights in relation to
insolvency practitioners' fees, can be obtained by visiting our website. The relevant guide can be
accessed through www.pkf.co.uk/cgtf. A copy of the guide can be provided upon request by contacting
this office.
SCHEDULE OF ADMINISTRATORS' CHARGE-OUT RATES
The table detailed below sets out the current charge-out rates utilised by PKF (UK) LLP for charging
staff time.
Partner £405 per hour
Director £369 per hour
Senior Manager £283 per hour
Manager £193 - £240 per hour
Supervisor £170 per hour
Administrator £128 - 156 per hour
Assistants & Support Staff £44 -£103 per hour
In common with most professional services firms, PKF (UK) LLP's charge-out rates change from time
to time, although each individual change is not material. The rates charged reflect various changes
over the course of each assignment.
Disbursements
Category 1 Disbursements
Category 1 disbursements will generally comprise external supplies of incidental services specifically
identifiable to the case, typically for items such as identifiable telephone calls, postage, advertising,
invoiced travel and properly reimbursed expenses incurred by personnel in connection with the case.
Also included will be services specific to the case where these cannot practically be provided internally
such as printing, room hire and document storage.
All category 1 disbursements will be charged at the actual cost incurred.
Category 2 Disbursements
Category 2 disbursements will comprise cost allocations which may arise on some of the category 1
expense where supplied internally: typically, items such as room hire and document storage. Also
typically included will be routine or more specialist copying and printing, and allocated communication
costs provided by the officeholder or his firm.
Category 2 Disbursements will not be charged by PKF (UK) LLP in connection with this matter.
May 2012
O'Donnell Developments Limited in Administration PKF
Appendix F — Statement of Administrators' proposals
May 2012
Rule 2.33 Form 2.17B The Insolvency Act 1986
Statement of administrators 217B proposals . Name of Company
O'Donnell Developments Limited
Company Number 02606227
In the Birmingham District Registry
[full name of court]
Court case number (For court use only)
8167 of 2012
(a) Insert full name(s) and address(es) of administrator(a)
We Ian James Gould and Edward Terence Kerr of PKF (UK) LLP, New Guild House, 45 Great Charles Street, Queensway, Birmingham B3 2LX
attach a copy of our proposals in respect of the administration of the above company
A copy of these proposals was sent to creditors on (b) Insert date
(b)
10 May 2012
Signed
Joint Administrator
Dated 10 May 2012
Contact Details;
You do not have to give any contact information in the box opposite but if you do, it will help Companies House to contact you if there is a query on the form. The contact information that you give will be visible to searchers of the public record
Ian J Gould
New Guild House, 45 Great Charles Street, Queensway, Birmingham
Tel 0115 960 8171
DX Number DX Exchange
Companies House receipt date barcode When you have completed and signed this form please send it to the Registrar of Companies at:
Companies House, Crown Way, Cardiff, CF14 31JZ DX 33050 Cardiff
Doc Ref: Form 2.17B - Statement of administrators proposals_cloc Rev.11/10
O'Donnell Developments Limited in Administration PKF
Appendix G - Proof of debt
May 2012
AAA1309 - ADM
Proof of Debt — General Form O'Donnell Developments Limited (In Administration)
Date of appointment of Administrator: 22 March 2012
1 Name of creditor (If a company please also give company registration number)
2 Address of creditor for correspondence
2a Email address (By including an email address on this form you are consenting to receive future correspondence by email.)
2b Your reference or account number If applicable
3 Total amount of claim Include any Value Added Tax and outstanding uncapitalised interest as at the date the company went into administration.
E
4 Details of any documents by reference to which the debt can be substantiated. There is no need to attach them now but the joint administrators may call for any document or evidence to substantiate the claim at his discretion as may the chairman or convenor of any meeting.
5 Uncapitalised interest If amount in 3 above includes outstanding uncapitalised interest please state amount
E
6 Particulars of how and when debt incurred If you need more space append a continuation sheet to this form.
7 Particulars of any security held Include the value of the security and the date it was given.
8 Particulars of any reservation of title Include full details of the goods supplied to which the claim relates.
9 Signature of creditor or person authorised to act on his behalf
Name in BLOCK LETTERS
Position with or in relation to creditor
Address of person signing (if different from 2 above)
To be completed by the joint administrators when admitting claims
Admitted to vote for
Admitted for dividend for
Date
Date
Joint Administrator
Joint Administrator
Dc Ref ADM1301 - Proof of Debt Forni.docni Rev.09/1 I
O'Donnell Developments Limited in Administration PKF
Appendix H — List of the Company's creditors
May 2012
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key Name Address
CA00 ADT Site Services Limited Coronet House, Gallows Lane, Measham, Derbyshire, DE12 7HA 632.72 CA01 Advanced Training & Testing Limited 2/3 Bridge Walk Off Woodcock Lane North, Acocks Green, Birmingham, West Midlands,
B27 6SN 1,170.00
CA02 Aggregate Industries Bardon Hill, Coalville, Leicestershire, LE67 1TL 1,563.17 CA03 Anvil Hire Limited Walton Road, Drekelow, Burton upon Trent, Staffordshire, DE15 9UA 2,822.40 CA04 Arc Welding Services Limited 17 Sandy Lane, Aston, Birmingham, West Midlands, B6 5TP 301.38 CA05 Arc Building Consultancy Victoria House, 114 - 116 Colmore Row, Birmingham, West Midlands, B3 3BD 510.00 CA06 Autoglass P.O.Box 4487, Worthing, Sussex, BN13 1YL 461.86 CA07 Altrav Beaver 84 Limited Ellencroft House, Harvey Road, Basildon, Essex, SS13 lEP 10,279.97 CBOO BA Mobile Fleet Services Eastcote Corner, Friday Lane Barston, Solihulll, West Midlands, B92 OHY 188.94 CB01 Birmingham City Council Finance Department (Revenues), P 0 Box 6637, Birmingham, West Midlands, B4 7AB 7,217.67 CB02 Birmingham Site Supplies 30 West Avenue, Castle Bromwich, Birmingham, West Midlands, B36 OEB 2,854.60 CB03 BOC Gases Priestley Road, Warsley, Manchester, Lancashire, M28 2UT 53.28 CB04 BP Oil UK Limited Witan Gate House, 500 - 600 Witan Gate, Milton Keynes, Buckinghamshire, MK9 lES (1,572.30) CB05 BRC Limited do Atradius Collections Limited, 3 Harbour Drive, Capital Waterside, Cardiff, CFI 0 4WZ 344,261.01 CCOO Calor Gas Limited Birmingham Calor Centre, Mornington Road, Smethwick, West Midlands, B66 2JE 135.95 CCO1 Castle Lifting Gear Limited Portersfield Road, Cradley Heath, Warley, West Midlands, B64 7BE 4,056.32 CCO2 Cemex UK Materials Limited P 0 Box 104, Thornaby, Stockton-on -Tees, TS17 6WZ 600,846.94 CCO3 Cetco Europe Limited Birkenhead Road, Birkenhead, Merseyside, CH44 7BU 3,619.44 CCO4 Construction Fixing Systems Unit 2A Westfield Estate, Henley Road, Medmenham, Marlow, Bucks, SL7 2HE 4,394.64 CCO5 Clee Hill Plant Limited Mansfield Road, Hasland, Chesterfield, Derbyshire, S41 OJW 247.94 CCO6 Combisafe international Limited Unit 1 Zone A Cheaney Drive, Grange Park, Northampton, Northamptonshire, NN4 5FB 1,075.65 CCO7 Contech Accessories Unit 1 Domino Court, Warrington Road Manor Park, Runcorn, Cheshore, WA7 1SN 1,812.00 0008 Construct Concrete Structures Riverside House 4 Meadows Business Park, Station Approach, Biackwater, Camberley,
Surrey, GU17 9AB 4,112.50
0009 Conquip industrial Waterbrook Estate, Waterbrook Road, Alton, Hampshire, GU34 2UD 3,213.60 CCOA Cost Advocates Limited 3rd Floor, 40 Dukes Place, London, EC3A 7NH 35.00 CCOB Coventry Timber Products Limited Parkstone Road, Coventry, West Midlands, CV6 7AL 28,709.43 CCOC Charles Wilson Engineers Limit 86 High Street, Harpenden, Hens, AL5 2SP 4,447.27 CCOD CAD Civil Engineering Services Ltd 7 Lumley Grove, Chelmsley Wood, Birmingham, B37 7TJ 0.00
Signature
Page 1 of 6 IPS SQL Ver. 2011
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key Name Address
CDOO Daisy Communiications Limited Daisy House, Lindred Road, Business Park, Nelson, Lancashire, BB9 5SR 2,850.74 CD01 Danwood Group Limited Danwood House, The Courtyard Buntsford Drive, Bromsgrove, West Midlands, B60 3DJ 90.00 0002 Dell Products P 0 Box 147, Dept 500, Milbanks House Western Road, Bracknell, Berkshire, RG12 1RD 120.00 0003 Donseed Garden Studios„ 11 - 15 Betterton Street, Covent Garden, London, WCH 9BP 150.00 CIDO4 Driscoll Homes 1 Wilkinson Croft, Ward End, Birmingham, West Midlands, B8 2RE 485.38 CIDO5 DSM Demolition Limited Arden House Arden Road, Heartlands, Birmingham, West Midlands, B8 1DE (72.00) 0006 Durham Markings Limited 53 Beckwith Close, Kirk Merrington, Durham, Co Durham, DL16 7HE 2,134.67 CIDO7 Dyno Credit Control British Gas Housesteads, Off stockport Road, Hattersley, SK14 3QU 528.00 CD08 De Lege Landen Leasing Limited Building 7, Croxley Green Business Park, Hatters Lane, Watford, Hefts, WD18 SYN 0.00 CE00 Easi Uplifts (Aerials) Limited 16 Johnstone Street, Bellshill, North Lanarkshire, ML4 1DE 5,919.72 CE01 Eccleston & Hart Ltd. 780 Kingsbury Road, Erdington, Birmingham, West Midlands, B24 9PS 807.92 CE02 Ellis Whittam Limited Woodhouse, Church Lane, Aldford, Cheshire, CH3 6JD 8,364.50 CE03 Erris (Builders) Ltd 44 Shakespeare Drive, Shirley, Solihull, West Midlands, B90 2AN 25,859.88 CE04 Esssafeforce Central House Beckwith Knowle, Otley Road, Harrogate, North Yorkshire, HG3 984.62 CE05 Euro Hire Limited Long Acre, Aston, Birmingham, West Midlands, B7 5JL 1,865.71 CE06 Evans Paving Services Limited The Old Dairy, Pessall Farm, Pessall Lane, Edingale, Nr.Tamworth, Staffordshire, B79 10,125.74
9JL CF00 Oliver Farrell 81 Doveridge Road, Hall Green, Birmingham, West Midlands, B28 OLT (384.15) CF01 FGD Limited Smestow Bridge, Bridgnorth Road, Wombourne, Wolverhampton, VIA/5 8AY 3,315.36 CF02 Fixing Plus Limited Unit 1 Mill Street, Aston, Birmingham, West Midlands, B6 4BS 10,996.32 CF03 Max Frank Limited Whittle Road, Meir, Stoke on Trent, Staffordshire, ST3 7HF 50.02 CF04 Friardown Limited 255 Tame Road, Witton, Birmingham, B6 71-1 2,643.59 CGOO Garic Limited Kingfisher Park, Aviation Road Pilsworth, Bury, Lancashire, BL9 8GD 2,760.00 CGO1 GCE Fluid Power Limited Atlas Ind.Estate South Works, Brookvale Road, Birmingham, West Midalnds, B6 7EX 649.81 CGO2 Generation Hire & Sale Trinity Street, Off Tat Bank Road, Oldbury, West Midlands, B69 4LA 2,117.12 0003 GJF Fabrications Chase Link Lichfield Road, Brownhills, Walsall, West Midlands, WS3 6LA 3,360.00 CGO4 Glenside Recycling Group Limited Melbouren House, 14 King Street, Smethwick, West Midlands, B66 2JN 90,058.75 CGO5 GT Certification Limited 204 Great Bridge Street, West Bromwich, West Midlands, B70 ODE 6,374.40 CHOO HM Revenue & Customs (PAYE / NIC) ICHU, Benton Park View, Longbenton, Newcastle Upon Tyne, NE98 1ZZ 0.00 CH01 HM Revenue & Customs (VAT) Insolvency Operations, Queens Dock, Liverpool, L74 4AF 0.00
Signature
Page 2 of 6 IPS SQL Ver. 2011
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key Name Address £
CH02 HM Revenue & Customs (Enforcement) Durrington Bridge House, Barrington Road, Worthing, West Sussex, BN12 4SE 0.00 CH03 Hewden Stuart Limited Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN 1,162.55 CH04 HGV Direct Group The Elms, Moor Farm Road East, Airfield Industrial Estate, Ashbourne, Derbyshire, DE6 17.98
1HD CH05 Hilti (Great Britain) Limited 1 Trafford Wharf Road, Trafford Park, Manchester, M17 1BY 542.16 CH06 H.M.Plant Limited Monkton Business Park North, Hebburn, Tyne & Wear, NE31 2JZ 7,583.08 CH07 Hudsons Contract Services Ltd The Chambers, Bassingby, Bridlington, East Yorkshire, Y016 4UH 0.00 C100 lschebeck Titan Limited John Dean House, Wellington Road, Burton on Trent, Staffordshire, DE14 2TG 84,526.80 C101 ING Lease (UK) Limited do RSM Tenon Recovery, Salisbury House, 31 Finsbury Circus, London, EC2M 5SQ 0.00 CJ 00 J & P Building Systems Unit 5 Thame Forty, Jane Morbey Road, Theme,, Oxon, 0X9 3RR 54,872.69 CJ 01 J-Safe Limited Heslop, Halesfield 24, Telford, Shropshire, TF7 4NS 9,526.48 CJ 02 J.K.I. Limited Unit 27c Harris Business Park, Stoke Prior, Bromsgrove, Worcs, B60 4DJ 14,298.60 CJ 03 J.M.Tyres Ltd 219 Electric Avenue, Witton, Birmingham, B6 7DE 2,919.30 CJ 04 JPE Holdings Limited The Lodge, Warstone Lane, Essington, Wolverhampton, West Midlands, VVV11 2AR 2,784.39 CJ 05 JPM Utilities Limited Unit 31,Mount Street Business Park, Mount Street Nechells, Birmingham, West Midlands,
B7 5RD 964.04
CJ 06 JSC Services Limited 1 Hollymount, Helmshore, Rossendale, Lancashire, BB4 4JU 300.00 CJ 07 Juel Business Services Limited 462 Station Road, Dorridge, Solihull, West Midlands, B93 8HB 1,066.74 CK00 K.A.Commercial Repair Service 16 Canterbury Drive, Marston Green, Birmingham, West Midlands, B37 7DP 48.00 CK01 Konica Minolta Business Soluti 2 Wharfside, Sandwell Green, Oldbury, West Midlands, B69 2BU 58.32 CLOO Lancaster & Co Granville House, 2 Tettenhall Road, Wolverhmpton, West Midlands, WV1 4SB 6,900.00 CLOI Leading Edge Investments Limited Unit 2 Glenmore Business Centre, Aerodrome Road, Gosport, Hampshire, P013 OFG 4,716.84 CLO2 L M Products Limited Unit 10 Union Road, Oldbury, Walley, West Midlands, B69 3EX 42,531.88 CLO3 Lombard PO Box 520, Rotherham, S63 2BR 0.00 CM00 Midland Truck & Van Limited 2 Lichfield Road, Aston, Birmingham, West Midlands, B6 5SU 960.43 CM01 Marwood Group Limited 72 Roding Road, London Ind.Park, Beckton, London, E6 6JG 2,160.90 CM02 Matrix Moulds & Models Glover Street, St Helens, Merseyside, WAIO 3LF 2,323.20 CM03 Midland Construction Supplies Limited Stowheath Industrial Estate, Monmore Rpad, Wolverhampton, West Midlands, WV1 2TZ 30,236.60 CM04 Mercia Roadstone Dale Street, Bilston, Wolverhampton, West Midlands, VVV14 7JY 1,402.73 CM05 MGF Trench Construction Grant House South Lancashire], Lockett Road, Ashton - in -Makerfied, Wigan, WN4 8DE 7,206.28
Signature
Page 3 of 6 IPS SQL Ver. 2011
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key Name Address
CM06 Midland Plant Glazing Limited 58 Sneyd Street, Cobridge, Stoke-On-Trent, ST6 2NZ 110.40 CM07 Midland Reprographics Systems Limited Holbrook Park Industrial Estate, Holbrook Lane, Coventry, West Midlands, CV6 4AB 21.16 CM08 Miers Construciton Limited Hawkesden Road, St Neots, Cambridge, Cambridgeshire, PE19 1QS 31,398.10 CM09 Milestone Haulage Limited The Spinney, Astley Lane, Astley, Nr Nuneaton, Warwickshire, CV10 9PU 3,392.00 CMOA MPS Builders Merchants Ltd Lock Lane, Warwick, CV34 SAG 124,193.31 CMOB Myson Consulting Limited 3.15 Saddleworth Business Centre, Huddersfield Road Delph, Oldham, Lancs, 0L3 5DF 2,252.16 CMOC Mr M Kavanagh 18 Orchard Road, Erdington, Birmingham, B24 9JL 0.00 CND° Natwest Commercial Banking 4th Floor 2 St Philips Place, Birmingham, B3 2RB, Attention John Ryan (170.00) CNO1 National Floor Preparation Centres Ltd 3 - 5 West Cannock Way, Cannock Chase Enterprise Centre, Hednesford, Staffordshire,
WS12 OQW (1,078.13)
CNO2 NWF Fuels Limited Wardle, Nantwich, Cheshire, CW5 6AF 19,452.90 C001 One Call Hire Limited Unit A Paragon Centre, 32 Crown Road, Enfield, Middlesex, EN1 1TH 28,605.74 C002 Oswald Record Group 132 Middlemore Ind. Estate, Middlemore Road, Birmingham, B21 OAY 1,020.00 0003 Oval Insurance Braking 90 Barwick Street, Birmingham, West Midlands, B3 2YY (1,389.15) CP00 Parker Merchanting Limited Jahn O'Gaunts Industrial Estate, Rothwell, Leeds, Yorkshire, LS26 ODU 59.68 CP01 Pen Limited Market Harborough Road, Clifton upon Dunsmore, Rugby, Warwickshire, CV23 OAN 52,461.48 CP02 Pestbusters (Midlands) Limited Highfield Farm Middle Lane, Kings Norton, Birmingham, West Midlands, B38 ODX 102.00 CP03 Pirtek Birmingham Unit 5 Boultbee Business Units, Nechells Place, Birmingham, West Midlands, B7 5AB 967.68 CP04 Pochin Concrete Pumping Limited Brooks Lane, Middlewich, Cheshire, CW10 OJQ 63,865.00 CP05 PSU Technology Group (19,94) CP06 Pyments (Alcester) Limited Kinwarton House, Captains Hill, Alcester, Warks, B49 6HA 1,675.73 0000 QA Liftrucks Limited 111 Pritchett Street, Birmingham, West Midlands, B6 4E5 5,807.15 CQ01 QED Safety Services 502 Tile Hill Lane, Tile Hill, Coventry, West Midlands, CV4 9DY 1,800.00 CROO Road Haulage Association Limited (5.00) CRO1 H D Ricketts 110 Summer Road, Erdington, Birmingham, B23 6DY 56,257.66 CRO2 Rio Surfacing Limited 50 Devon Street, Nechells, Birmingham, West Midlands, B7 4SI 258.00 CRO3 RNP Associates Limited Concorde House Union Drive, Boldmere, Sutton Coldfield, West Midlands, B73 5TE 1,700.40 CSOO Sage UK limited North Park, Newcastle Upon Tyne, NE13 9AA 2,670.80 CS01 Savage Plant Hire Limited 222 St Margarets Road, Ward End, Birmingham, West Midlands, B8 2BG 388.80 CS02 Servicepoint Birmingham Enfield House, Enfield Road, Edgbaston, Birmingham, B15 1QA 204.61
Signature
Page 4 of 6 IPS SQL Ver. 2011
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key Name Address
CS03 SGH Martineau LLP 1 CoImore Square, Birmingham, West Midlandssq, B4 6AA 12.00 CS04 Guy Salmon Land Rover Coventry Birmingham Road, Allesley, Coventry, West Midlands, CV5 9GY 517.85 CS05 Go Plant tia Shropshire Roadsweepers Ltd. Stafford Park 13, Telford, Shropshire, TF3 3AZ 2,572.00 CS06 Sign Language Limited The Smithy Wychnor Manor Stables, Wychnor, Burton on Trent, Staffordshire, DE13 8BU 195.00 0507 SIG Construction Accessories Hillsborough Works, Langsett Road, Sheffield, South Yorkshire, S6 2LW 95,612.75 CS08 Skye Civil Engineering Limited 198 Speedwell Road, Hay Mills, Birmingham, West Midlands, B25 8HH 2,542.80 CS09 E H Smith Westhaven House, Arleston Way, Solihull, West Midlands, B90 4L1-1 1,571,02 CSOA SND Electrical Wholesalers SND House 23 -25 Constitution Hill, Hockley, Birmingham, West Midlands, B19 3:G 507.90 CSOB Southern Electric Co Limited P 0 Box 514, Basingstoke, Basingstoke, RG21 8WS 1,205.20 CSOC Sovereign Office Equipment Co Ltd Mucklow Hill Trading Estate, Mucklow Hill, Halesowen, West Midlands, B62 8DF 11.99 CSOD Speedy Asset Services Limited Chase House, 16 The Parks, Newton Le Willows, Merseyside, WA12 OJQ 8,271.53 CSOE Stanton Trading Limited Building B Bay 4, Heartlands Parkway, Bromford, Birmingham, B7 5AH 1,440.00 CSOF HSBC (David Stanley Transport) Farncombe Road, Worthing, West Sussex, BN11 2BW 744.00 CSOG Stocks Sweepers Limited Vantage Point Business Village, Mitcheldean, Gloucestershire, GL17 ODD 85.80 CSOH Structural Soils Limited Spring Lodge, 172 Chester Road, Helsby, Cheshire, WA6 OAR 1,296.00 CSOI Santander Consumer Finance 3 Princess Way, Redhill, Surrey, RH1 1SR 0.00 CTOO Tamworth Steel Stockholders Limited T/A Camp Steel Company, 29 Grafton Road Sparkbrook, Birmingham, West Midlands,
B11 1JP 8,029.98
CTO1 Tarmac Limited do Claire Humphries, Begbies Traynor, Temple Point, 1 Temple Row, Birmingham, B2 216,710.01 5LG
CTO2 Terra Tek Limited 62 Rochsolloch Road, Airdrie, ML6 9BG 1,680.00 CTO3 Thyssenkrupp Materials (UK) Limited Cox's Lane, Cradley Heath, West Midlands, B64 5Qu 1,555.20 CTO4 Tier Projects Limited 8th Floor Trafford House, Chester Road, Old Trafford, Manchester, Lancashire, M32 ORS 11,750.00 CTO5 Walter Tipper Limited Europa Way, Lichfield, Staffs, WS14 9TZ 57,878.45 CTO6 Total Gas & Power Bridge Gate, 55/57 High Street, Redhill, Surrey, RH1 1RX 547.34 CTO7 Travis Perkins Limited Sales Ledger Department, P 0 Box 5226, Northsmpton, Northamptonshire, NN5 7ZD 248.50 CTO8 Traffic Facilities (UK) Limited 13 Kirton Close, Whitnash, Leamington Spa, Warwickshire, CV31 2RE 34.50 CTO9 Trad Hire & Sales (Midlands) Limited Trad House, Cromwell Road, Bredbury, Stockport, SK6 2RF 1,891.52 CTOA Trowers & Ham lins Sceptre Court, 40 Tower Hill, London, EC3N 4DX 5,352.00 CUO0 United Trust Bank 80 Haymarket, London, SW1Y 4TE 0.00
Signature
Page 5 of 6 IPS SQL Ver. 2011
PKF (UK) LLP O'Donnell Developments Limited B - Company Creditors
Key
CVO° CWOO CW01 CW02 CW03 CVV04 CW05 CZOO
Name
Vp Plc Watson Petroleum Weir Waste Services Ltd Wells Spiral Tubes Limited West Midlands Tool Hire VVolseley Centers Limited Working At Height Solutions Limited Zen Internet
Address
Central House, Beckwith Knowle, Otley Road, Harrogate, HG3 'IUD Brinkwater, Chippenham, Wilts, SN15 50N Fawdry House, 50 Cato Street, Waterkinks, Nechells, West Midlands, B7 4TS Prospect Works, Airedale Road, Keighley, West Yorkshire, BD21 4LW 75 Walsall Road, Perry Barr, Birmingham, West Midlands, B42 1TX c/o The P & A Partnership, 93 Queen Street, Sheffield, Si 1WF c/o Bibby Factors Slough Limited, 7 Bath Road, Slough, Berks, SL1 3LJE Moss Bridge Road, Rochdale, Lancs, 0L16 5EA
£
258.00 7,326.01
335.89 6,610.80 2,617.55
131,806.02 0.00
99.00
150 Entries Totalling 2,456,036.62
Signature
Page 6 of 6 1PS SQL Ver. 20'11
O'Donnell Developments Limited in Administration PKF
Appendix I — Management Accounts to 31 January 2012
May 2012
TOZ
/ 20 / 0Z,
9L ILZ9Z t I
e iviowop wwg
O'Donnell Developments Ltd
Management accounts for the 3 month period ended 31st Ja nuary 2012
PROFIT AND L095 ACCOUNT 3 months ended
31.01_12
3 months ended 3 months ended 'Year end'ed
31.10.11 31_07.11 30.04.11 Sales
3253535 365.3440 2301270 8658E49
Cost of sales
t"Votor a.7.1- plant rttanar.g
31725 7." - r-.-gt,i6
Hire cif plant and machinery z49bs.r.. i5360.9 146227 .
Social security 1223575
Pension contributions 91120
Purchases and subcontractors 1553915 1264358 wages 1015385 1548936 1670611
136471 109201 2113 8113 . 8113
Gross profit -461.486 334250 235.124
Other income
Rents received 25417
29867 Bank in terest 289E7 117375 0 28417 0 29867 0 23967 la 117393
-433069 354157 Expenditure 264091 557914 Rent
27000 27060 Rates and water 27000 2154100
7500 21603 Lrght and heat 21142 64544
3953 2036 Olreaors` salaries 2104 13658 40040 Duke and ma nagement salaries
40040 40040 2926/5
56358 56985 Social. security 67991 246205
0 /2000 Pension contributions 12000 06347
-1164 6533 Telephone 5248 28312
4955 5843 Postage and stationary 4284 20180
3390 2604 Advertising 2480 6037
a 0 Mainteeance and' repairs 250
4328 2032 Computer costs 1258 . 5479
0 358 insurances 358
43048 52901 Sundry expenses 19699 8168.1
-5557 5130 Legal and prolessbanal charges 3204 3097
24099 15194 29963 54157
-64.8545 114499
12361 Sank. interest 850
16307 17787 Bank lean interest 17913
0 0 VAT/tax interest and surcharges a 6862 8.513 Hire purchase c'narges 1535 38535 -1578 35432 4921
-687231 75067 Depreciation
Plant and machinery 56649 55989 FiXitu ran aricf fittings 55071
301 160 160
2441553
4276600
301037
32453
51314.3
753342 "atc02.6
340521
Bad debts 7525 215576 0 249558 0
Pinance costs
Bank charges 20693
236410 0 1009620
1> 0 m
um (.0 -, 1—,
27631
32702
36433
6E333
0
18913
-51706
1241E8
-4521
245980
35.1
-175694
1.oss)fpncifit on dis,pasal of fixed assets Prant end machinery Motor vehicles
Corporation taXpricr year adjustment Cele/reit tax
Net prafitiflosS1
13,.11.4NC6 SH EET
0
0 a
0
-452295
2114
-750107
0 a
a 1852
262
16625
Et
16625
-65898
0
-15000 103324
•430081
88324
-361757 -750307
- -55398
1564284 1685000
2617634 980030
5313
1538523 1635000
3223523
-1.339666
1516073 1685000
1559713 1685000
TangiZIle assets Investments
Current assets Stock
Dab
Cash at bank and in hand
Creditors
Amounts faPing due within oneyear
Net current Pabititres
Total assets less current liabilities
Creditors
Amounts failing due after more than one year
Prourslons for liabilities and charges
itiet assets
Capital and reserves
Callad up shore capita I Revaluation rese rve Profit and loss octount
Shareholders funds
Recondle: Profit and loss 3coauilt
Profit and Foss account brought for.vard Profit/Vass) for period
1570190
2/25
3249284
-2614573
1973520
987515 4
3201073
-1307169
1393909
-1239295
632030
1432606
9u5az -33293
3244719
-158963
2317883
4932457
3602972
4942538
2961040
4163209
2381925
25403813
634710
-713779
632030
1883857
-1212619
632030
3086255
-2.365795
632030 552961 1303253 1286643
5000 333435
928298
1286643
5000 353435
194526
Rai 353435 944333
1352541
scoa
353435 594106
552961 7.132613
194526 944833
1352541
928203
944833
-750307 928208
16E25 994106 -65398 194525 944833 928208
ZIOZ/EOW
9LTLZ9NZIe
1VID
d3WW
OD W
VHE
cr)
CO
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