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Melloy Limited – in

Creditors’ Voluntary

Liquidation

For the periods from 18 September 2015 to

17 September 2016, and from 18 September 2016 to

13 January 2017

www.pwc.co.uk/melloy

7 November 2016

Our ref: LP/VJ/Melloy/report/071116

PwC LLP

Central Square

29 Wellington Street

Leeds

LS1 4DL

http://www.pwc.co.uk/melloy

Melloy Limited – in Creditors’ Voluntary Liquidation 2

To all known members and creditors

7 November 2016

Our ref: LP/VJ/Melloy/report/071116

Dear Sir/Madam

Melloy Limited – in Creditors’ Voluntary Liquidation (“the Company”)

Formerly trading from: Unit c10, Treforest Industrial Estate, Pontypridd, CF37 5UD

This is our second annual report, and draft final report, to members and all known creditors in the above

liquidation for the period from 18 September 2015 to 17 September 2016, and from 18 September 2016 to

13 January 2017.

If you have any queries in connection with this report, please contact Lee Panther on 0113 289 4804

Yours faithfully

For and on behalf of the Company

Roger Hale

Joint Liquidator

Roger Gareth Hale and Robert Nicholas Lewis have been appointed as joint liquidators of Melloy Limited. Both are licensed in the United

Kingdom to act as insolvency practitioner by the Institute of Chartered Accountants in England and Wales.

The joint liquidators are bound by the Insolvency Code of Ethics which can be found at:

https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.

The Joint Liquidators are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP

will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the

Liquidation.

https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics


Definitions used in this report

Definition used Term

the Company Melloy Limited

the Liquidators

we

our

Roger Hale

and

Robert Lewis

the Rules Insolvency Rules 1986

HSBC HSBC Bank plc

HSBCIF HSBC Invoice Finance

FW Finance Wales plc

HMRC Her Majesty’s Revenue and Customs

ICAEW Institute of Chartered Accountants in England and Wales

PwC PricewaterhouseCoopers LLP

Table of contents

1. Introduction 5

1.1. Why we’re sending you this report 5

1.2. Appointment of Administrators 5

1.3. Dividends Paid 5

2. Progress made during the period 6

2.1. Assets realisations 6

2.2. Statutory and compliance 6

2.3. Distribution to unsecured creditors 6

3. Outcome for creditors 7

3.1. Secured creditors 7

3.2. Preferential creditors (mainly employees) 7

3.3. Unsecured creditors 7

4. Liquidators’ fees and other financial information 8

4.1. Our fees 8

4.2. Our disbursements 8

4.3. Creditors’ rights 8

4.4. Receipts and payments account 9

4.5. Statement of expenses 9

5. Final meetings of members and creditors 10

Appendix A. - Statutory and other information 11

Appendix B. - Receipts and payments account for the period 18 September 2015 to 17 September 2016 12

Appendix C. - Final receipts and payments account for the period 18 September 2016 to closure 13

Appendix D. - Details of our remuneration and disbursements and other professional costs 14

Appendix E. - Statement of expenses 20

Appendix F. - Notice of final meeting and proxy form 21


1. Introduction

1.1. Why we’re sending you this report

This is our second annual report, and draft final report, to members and creditors. It will help if you read this

alongside our previous progress reports which can be found at www.pwc.co.uk/melloy.

This report provides a summary of the steps taken during the second year of the liquidation and the period to

closure.

In Section 2 we provide more detailed information on what we’ve been doing during the periods covered by this

report and in Section 3 we provide a summary as to what the outcome for creditors was.

By law, we have to give you certain statutory information. This is included in Appendix A.

We’ve also included notice of the final meeting of members and creditors to be held on 13 January 2017 at

Appendix F

1.2. Appointment of Administrators

On 16 April 2013 Roger Hale and Rob Lewis were appointed Joint Administrators of the Company. The

administration ended on 18 September 2014, when the Company went into creditors’ voluntary liquidation and

Roger Hale and Rob Lewis were appointed as Joint Liquidators.

1.3. Dividends Paid

Recovery Paid

Preferential creditors:

i.e. former employees (for unpaid wages up to £800 and

holiday pay only) and unpaid pension contributions in

certain circumstances:

100p / £ 4 September 2013

(former administration)

Unsecured creditors:

i.e. all other creditors who are neither secured nor

preferential:

3.46p / £ 27 July 2016

http://www.pwc.co.uk/melloy


2. Progress made during the period

2.1. Assets realisations

Most assets were realised in the former administration, with the only assets being realised in the liquidation

being an insurance refund and the receipt of bank interest.

In the period from 18 September 2015 to 17 September 2016 bank interest of £43.54 was received.

There were no receipts in the final period from 18 September 2016 to 13 January 2017.

2.2. Statutory and compliance

The majority of the statutory tasks required by the Liquidators were completed in the prior period, and that

included the obtaining of clearance from HMRC that the tax obligations of the Company had been concluded.

In the period to 17 September 2016 we have submitted the final VAT refund to finalise the VAT position of the

Company.

The final filings at Companies House will be sent following the holding of the final meetings, after which the

Company will be dissolved.

2.3. Distribution to unsecured creditors

In the period to 17 September 2016 we have concentrated on facilitating the distribution to unsecured creditors.

This culminated in the payment of the first and final dividend to unsecured creditors of 3.46 pence in the £ on

27 July 2016.

As creditors are aware, due to the submission of a large and complex claim we had to delay the declaration of

the dividend by six months in order to able to adequately adjudicate the claim in question. After numerous

discussions, this claim was eventually reduced by £105,000, which ensured each creditor received an uplift on

their distribution of 0.3 pence.

We have since remained in office to allow creditors to cash their unsecured dividend cheques.


3. Outcome for creditors

3.1. Secured creditors

As at the date of insolvency, the Company had three secured creditors: HSBC, HSBCIF and FW

HSBC’s lending to the Company as at the date of the prior administration was £518,481 and was secured by a

debenture dated 23 March 2005. This security gave HSBC fixed and floating charges over all the Company’s

assets. From the proceeds of the sale of the leasehold property, HSBC received £425,665, with the remaining

balance and accrued interest satisfied with further distributions totalling £115,769 from floating charge

realisations.

In addition, HSBIF had an invoice factoring agreement with the Company and was due £360,972 at the date of

the prior administration. HSBCIF recovered the amount due in full under its factoring agreement directly from

customers.

Finally, FW held a fixed charge over a specific asset of the Company secured by a charge dated 9 September

2004, as well as a debenture dated 14 March 2011 to cover any shortfall. FW’s lending to the Company as at the

date of the prior administration was £68,937, of which £29,475 was repaid from the net proceeds of the secured

asset in the administration. In the liquidation, the remaining shortfall of £39,462 was distributed to FW.

In summary, all secured creditors have been repaid in full.

3.2. Preferential creditors (mainly employees)

As previously reported, we paid preferential creditors in full in the former administration, distributing a total of

£17,026.

3.3. Unsecured creditors

The prescribed part is a fund that has to be made available for unsecured creditors. It’s paid out of “net

property”. Net property is floating charge realisations after costs, and after paying - or setting aside enough to

pay - preferential creditors in full. But it only has to be made available where the floating charge was created on

or after 15 September 2003.

The prescribed part applies in this case as there is a floating charge created after 15 September 2003.

The amount of the prescribed part is:

– 50% of net property up to £10,000;

– 20% of net property above £10,000; and

– Subject to a maximum of £600,000.

The Company’s net property was £256,148 which means the value of the prescribed part was £54,230. From

this, after costs, we paid a first and final dividend of 3.46 pence in the £ from the prescribed part on 27 July

2016.

There won’t be any other dividend for unsecured creditors.


4. Liquidators’ fees and other financial

information

4.1. Our fees

During the administration, the secured and preferential creditors passed a resolution fixing the Administrators’

fees by reference to time properly given by the Administrators and their staff in dealing with the administration.

The fee basis agreed in the administration continues to apply in the liquidation. This means that our fees as

Liquidators were calculated by reference to time.

From 18 September 2015 to 17 September 2016 we incurred time costs of £41,875 for 175 hours work, which

works out at an average hourly rate of £238.94. The average hourly rate in our last progress report was £226.60

From 18 September 2016 to 23 October 2016 we have incurred time costs of £3,108 for 14 hours work, which

works out at an average hourly rate of £215.82.

We include details of the above time costs incurred, by work type, at Appendix D.

Total time costs incurred in the liquidation from appointment to 23 October are £86,514. Of this, we have

drawn fees of £28,585. We will not draw any further remuneration.

Further details of our fees are included in Appendix D, together with details of work that we would normally do

but has been subcontracted in the period.

4.2. Our disbursements

We’ve incurred disbursements of £417.71 during the period from 18 September 2015 to 17 September 2016.

No disbursements have been incurred during the period from 18 September 2016 to 23 October 2016.

We’ve not drawn any disbursements in the period.

Further details on our disbursements are provided in Appendix D.

4.3. Creditors’ rights

Creditors have the right to ask for more information within 21 days of receiving this report as set out in Rule

4.49E of the Rules. Any request must be in writing. Creditors can also challenge the liquidators’ fees and

expenses within eight weeks of receiving this report as set out in Rule 4.131 of the Rules. This information can

also be found in the guide to fees at;

http://www.icaew.com/~/media/corporate/files/technical/insolvency/creditors%20guides/creditors%20guide

%20liquidators%20fees%20final.ashx

You can ask for a copy free of charge by calling Lee Panther on 0113 289 4804.

http://www.icaew.com/~/media/corporate/files/technical/insolvency/creditors%20guides/creditors%20guide%20liquidators%20fees%20final.ashx

http://www.icaew.com/~/media/corporate/files/technical/insolvency/creditors%20guides/creditors%20guide%20liquidators%20fees%20final.ashx


4.4. Receipts and payments account

A receipts and payments account for the period from 18 September 2015 to 17 September 2016 is provided in

Appendix B.

A final receipts and payments account for the period from 18 September 2016 to closure is provided at

Appendix C.

4.5. Statement of expenses

A statement of expenses for the periods from 18 September 2015 to 17 September 2016, and from 18 September

2016 to closure, is provided in Appendix E.


5. Final meetings of members and

creditors The work we need to do has now finished and we’re required to hold final meetings of members and creditors. Attached to this report is a notice of these meetings and a proxy form. The purpose of the meetings is to present this report and for the creditors to consider our release. No formal resolutions will be considered but creditors may propose a resolution against our release. If there is no such resolution, we’ll automatically be released from liability in respect of our actions undertaken as liquidators. If you require further explanation of any aspects of this report, but don’t wish to attend the meeting, please telephone or write to Lee Panther. If you wish to attend the meeting, please telephone Lee Panther so that arrangements can be made. We must have regard to the convenience of creditors when convening any general meeting. From experience, creditors don’t often attend such meetings and so this meeting is being convened at the offices of PwC, Central Square, 29 Wellington Street, Leeds, LS1 4DL in order to reduce costs. If you wish to attend the meeting but think the venue is inconvenient, it can be reconvened at an agreed venue if you contact us within the next 7 days. This is to ensure all other creditors can be told about the revised arrangements. If you want to propose a resolution against our release the following paragraphs will apply: Individual creditors (i.e. not limited companies): You can vote by simply attending the meeting, provided a proof of debt has been lodged at the address stated in the notice of the meeting before 12.00 noon on the working day before the meeting. If you don’t attend the meeting you may complete a proxy form to nominate:

someone else to attend and vote for you; or

the chair to vote on your behalf. The proxy form needs to be signed by you. Limited companies: A company is not physically able to attend meetings, so it must appoint someone to attend on its behalf by:

completing and returning a proxy form (even if you’re a director); or

producing at the meeting a sealed or certified copy of a board resolution authorising you to represent that company at the meeting.

A company can also complete and return a proxy form to nominate:

someone else to attend and vote as its representative; or

the chair to vote as its representative. The proxy form needs to be signed by someone authorised to sign on behalf of that company and the nature of that person's authority should be stated. A proof of debt also needs to be lodged at the address stated in the notice of the meeting before 12.00 noon on the working day before the meeting. Important information if you are submitting a proxy: A proxy holder can vote either on your instruction or at their discretion as indicated on the completed proxy form. The proxy form must be lodged at the address stated in the notice of the meeting before 12.00 noon on the working day before the meeting.


Appendix A. - Statutory and other

information

Name of company: Melloy Limited

Registered number: 05162411

Registered office: Central Square, 29 Wellington Street, Leeds, LS1 4DL

Former company names: n/a

Trading names: As above

Trading address: n/a

Names of liquidators and their

address(es):

Roger Gareth Hale of PwC LLP, One Kingsway, Cardiff, CF10 3PW;

and Robert Nicholas Lewis, PwC LLP, 7 More London, Riverside,

London, SE1 2RT.

Date of liquidators appointment: 18 September 2014

Details of change in liquidators: n/a

Details of prior administration: Roger Gareth Hale and Robert Nicholas Lewis were appointed joint

administrators on 16 April 2013.

Estimated dividend for preferential

creditors:

n/a – paid in full in former administration.

Estimated dividend for unsecured

creditors:

n/a – first and final dividend of 3.46 pence in the £ paid in

liquidation.

Estimated values of the Company’s

net property and prescribed part:

Net property: £256,148.06

Prescribed Part: £54,229.61

Whether and why the Liquidators

intend to apply to court under Section

176A(5) IA86:

n/a – prescribed part already distributed.


Appendix B. - Receipts and payments

account for the period 18 September

2015 to 17 September 2016

From appointment to

17/09/2015

From 18/09/2015 to

17/09/2016 Total

Fixed Charge

Receipts £ £ £

Cash transferred from administration 33,000.00 - 33,000.00

Insurance refund 3,725.61 - 3,725.61

36,725.61 - 36,725.61

Payments £ £ £

Distribution to Bank under fixed charge (35,378.20) - (35,378.20)

Utilities (1,347.41) - (1,347.41)

(36,725.61) - (36,725.61)

Net fixed realisations - - -

Floating Charge

Receipts £ £ £

Bank interest 159.74 43.54 203.28


153,685.77 43.54 153,729.31

Payments £ £ £

Administrator's disbursements (642.39) - (642.39)

Administrator's remuneration (time costs basis) (37,500.00) - (37,500.00)

Bank charges (84.66) - (84.66)

Liquidators' disbursements (153.08) - (153.08)

Liquidators' remuneration (12,500.00) (1,085.20) (13,585.20)

Statutory advertising (75.82) (137.22) (213.04)

Storage costs (458.79) (1,260.62) (1,719.41)

(51,414.74) (2,483.04) (53,897.78)

Net floating realisations 102,271.03 (2,439.50) 99,831.53

VAT transfered from administration 100,149.86 100,149.86

Payment of administration VAT liability (100,149.86) - (100,149.86)

Liquidator VAT control account (86.79) 86.79 -

Distribution to FW under floating charge (39,462.07) - (39,462.07)

Distribution to Bank under floating charge (6,055.58) - (6,055.58)

Liquidators' remuneration for dealing with distribution (15,000.00) (15,000.00)

Distributed to unsecured creditors (3.47p / £) (39,229.62) (39,229.62)

Balance at Bank 56,666.59 (56,582.33) 84.26

Prescribed Part Distribution

Net property (total floating charge realisations incl. administration) 256,148.06

Prescribed Part ¹ 54,229.61

Less costs of distribution (15,000.00)

Total amount to distribute 39,229.61

Unsecured Creditors 1,131,616.17

Distibution - p/£ 3.47

Notes

1. Calculated as 50% of the first £10,000 of net property and 20% of the excess, subject to a maximum of £600,000, as per s.176A of the Insolvency Act 1986 and

the Insolvency Act 1986 (Prescribed Part) Order 2003


Appendix C. - Final receipts and

payments account for the period

18 September 2016 to closure

From appointment to

17/09/2016

From 18/09/2015 to

closure Total

Fixed Charge

Receipts £ £ £


Insurance refund 3,725.61 - 3,725.61

36,725.61 - 36,725.61

Payments £ £ £

Distribution to Bank under fixed charge (35,378.20) - (35,378.20)

Utilities (1,347.41) - (1,347.41)

(36,725.61) - (36,725.61)

Net fixed realisations - - -

Floating Charge

Receipts £ £ £

Bank interest 203.28 - 203.28


153,729.31 - 153,729.31

Payments £ £ £

Administrator's disbursements (642.39) - (642.39)

Administrator's remuneration (time costs basis) (37,500.00) - (37,500.00)

Bank charges (84.66) (58.51) (143.17)

ISA fee - (25.75) (25.75)

Liquidators' disbursements (153.08) - (153.08)

Liquidators' remuneration (13,585.20) - (13,585.20)

Statutory advertising (213.04) - (213.04)

Storage costs (1,719.41) - (1,719.41)

(53,897.78) (84.26) (53,982.04)

Net floating realisations 99,831.53 (84.26) 99,747.27

VAT transfered from administration 100,149.86 - 100,149.86

Payment of administration VAT liability (100,149.86) - (100,149.86)

Distribution to FW under floating charge (39,462.07) - (39,462.07)

Distribution to Bank under floating charge (6,055.58) - (6,055.58)

Liquidators' remuneration for dealing with distribution (15,000.00) - (15,000.00)

Distributed to unsecured creditors (3.47p / £) (39,229.62) - (39,229.62)

Balance at Bank 84.26 (84.26) -

Prescribed Part Distribution

Net property (total floating charge realisations incl. administration) 256,148.06

Prescribed Part ¹ 54,229.61

Less costs of distribution (15,000.00)

Total amount to distribute 39,229.61

Unsecured Creditors 1,131,616.17

Distibution - p/£ 3.47

Notes

1. Calculated as 50% of the first £10,000 of net property and 20% of the excess, subject to a maximum of £600,000, as per s.176A of the Insolvency Act 1986 and

the Insolvency Act 1986 (Prescribed Part) Order 2003


Appendix D. - Details of our

remuneration and disbursements and

other professional costs

Background

This section sets out the process that was established for setting and monitoring the Liquidators’ remuneration.

The basis of our fees and certain disbursements was agreed in the prior administration by the secured and

preferential creditors and have transferred across to the liquidation in accordance with the Rules.

The basis of our fees is by reference to time properly given. Details of the amount we have drawn can be found

in Section 4.

Liquidators’ charging policy

The time charged to the liquidation is by reference to the time properly given by our staff and us in attending to

matters arising.

It is our policy to delegate tasks in the liquidation to appropriate members of staff, considering their level of

experience and any requisite specialist knowledge needed and they are supervised accordingly to maximise the

cost effectiveness of the work performed.

Our junior people have done the routine work in the liquidation to keep the costs down. But we and our senior

staff have supervised them and we have dealt with any complex or significant matters ourselves.

Matters of particular complexity or significance requiring more exceptional responsibility are undertaken by

senior staff or the Liquidators themselves.

Details of subcontracted work

We’ve not sub-contracted any work in the periods.

Narrative of key areas of work carried out for the period from 18 September 2015 to

17 September 2016

There remain a number of distinct work streams within the work we have done. It should be noted that

individuals will have worked in more than one area. The activities of these work streams are summarised below:

Area of work Activities completed

Accounting and treasury

Processing and sending payments;

Reconciling bank accounts; and

Facilitating the payment of the unsecured dividend and producing

the necessary cheques.

Closure procedures

Arranging final storage and destruction of Company’s books and

records;

Discussions surrounding closure strategy; and

Undertaking file review in advance of closure.

Creditors Receiving claims from creditors;



Adjudicating upon creditor claims and updating systems;

Liaising with complex creditor to resolve issue with claim;

Issuing notice of intended dividend;

Responding to creditor enquires;

Calculating unsecured distribution; and

Arranging payment of the unsecured dividend.

Employees & pensions Obtaining clearance from pensions in advance of ceasing to act.

Statutory and compliance

Preparing and distributing the Liquidators first annual report;

Liquidators review of annual report;

Submitting report to Companies House; and

Filing of case files and paperwork.

Strategy & Planning

Strategy discussion regarding unsecured distribution;

Appointment takers statutory six monthly case review; and

Team meetings and project management.

VAT Submission of final VAT 426.

Narrative of key areas of work carried out for the period from 18 September 2016 to

23 October 2016 and work to carry out to closure


Accounting and treasury

Cancelation of unpresented cheques;

Arranging payment of uncashed dividend cheques to Insolvency

Service; and

Closing liquidation bank account.

Closure procedures

Sending notice of final meeting and advertising in London Gazette;

Holding final meeting; and

Closing down internal systems and final filing.

Statutory and compliance Completing and distributing second and final report; and

Submitting Forms to Companies House.

Strategy & Planning Appointment takers final review.

Hourly rates

In common with all professional firms, scale rates increase from time to time over the period of the

administration of each insolvency case. PricewaterhouseCoopers LLP, or any successor firm, reserves the right

to change the rates and grade structures. During the periods covered by this report the charge out rates were

increased on 1 July 2016.

Set out below are the relevant maximum charge-out rates per hour worked for the grades of staff actually

involved on this assignment. All staff who work on this assignment (including cashiers, support and secretarial

staff) charge time directly to the assignment and are included within any analysis of time charged. Time is

charged by reference to actual work carried out on the assignment in six minute units. The minimum time

charged is three minutes (i.e. 0.5 units). There was no allocation of any general costs or overhead costs.

Specialist departments with our firm, such Tax, VAT, Property and Pensions were also used where expert advice

was required. Such specialist rates do vary but the figures overleaf provide an indication of the maximum rate

per hour:


Grade Maximum rate per

hour

(from 1 July 2015 to

30 June 2016)

(£)

Maximum rate per

hour

(from 1 July 2016 to

present)

(£)

Specialist maximum

rate per hour

(£)

Partner 590 600 1,190

Director 490 500 1,095

Senior Manager 425 435 920

Manager 340 345 665

Senior Associate 255 / 185 260 / 190 490

Associate 165 170 240

Support staff 87 89 -

Our relationships

We have had no business or personal relationships with the parties who approve our fees or who provide

services to the liquidation where the relationship could give rise to a conflict of interest.

Payments to associates

We have made no payments to associates in the period.

Disbursements for services provided by our firm (Category 2 disbursements)

Our firm’s expenses policy allows for all properly incurred expenses to be recharged to the case. Disbursements

were charged to the assignment as follows:

Photocopying At 5 pence per sheet copied, only charged for circulars to creditors and other bulk copying.

Mileage At a maximum of 67 pence per mile (up to 2,000cc) or 80 pence per mile (over 2,000cc).

Our disbursements in the period from 18 September 2015 to 17 September 2016

We have incurred the following disbursements (excluding VAT) in the period from 18 September 2015 to

17 September 2016

Category 1: £ Category 2: £

Postage 326.42 Mileage: -

Other 30.00 Printing 61.39

Total: 356.32 Total: 61.39

The statement of expenses at Appendix E show what we have drawn in total in relation to our disbursements.

Other professional advisors we’ve used

No professional advisors have been used in the liquidation.


Analysis of our time costs by grade and work area from 18 September 2015 to 17 September 2016

Aspect of assignment

Partner Director Senior

Manager Manager

Senior

Associate Associate Support Total Time cost Average

hourly rate

(Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (£) (£)

1 Accounting and treasury - - - 0.05 2.75 4.20 - 7.00 1,373.00 196.14

2 Closure procedures - 1.50 - 0.85 2.60 - - 4.95 1,526.00 308.28

3 Creditors - - 3.10 29.30 72.10 2.40 - 106.90 25,124.00 235.02

4 Employees & pensions - - - 0.10 1.05 - - 1.15 416.25 361.96

5 Statutory and compliance 0.50 4.50 2.30 4.25 19.05 13.75 1.30 45.65 10,056.60 220.30

6 Strategy & planning 0.50 2.00 0.60 3.05 1.35 - - 7.50 2,948.00 393.07

7 Tax - - - 0.10 - - - 0.10 34.00 340.00

8 VAT - - - 0.15 1.55 0.30 - 2.00 397.25 198.63

Total for the period 1.00 8.00 6.00 37.85 100.45 20.65 1.30 175.25 41,875.10 238.94

Brought forward at 17 September 2015 183.28 41,531.05

Total 358.53 83,406.15


Analysis of our time costs by grade and work area from 18 September 2016 to 23 October 2016

Aspect of assignment

Partner Director Senior

Manager Manager

Senior

Associate Associate Support Total Time cost Average

hourly rate

(Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (Hours) (£) (£)

1 Accounting and treasury - - - - 1.10 1.60 - 2.70 491.50 182.04

2 Creditors - - - 0.10 1.30 0.50 - 1.90 366.50 192.89

3 Statutory and compliance - 1.00 - 0.15 7.05 - 0.15 8.35 1,904.60 228.10

4 Strategy & planning - - - 0.45 1.00 - - 1.45 345.25 238.10

Total for the period - 1.00 - 0.70 10.45 2.10 0.15 14.40 3,107.85 215.82

Brought forward at 17 September 2016 358.53 83,406.15

Total 372.93 86,514.00


Summary of time costs incurred

Aspect of assignment Total hours Total time cost

(£)

Average hourly

rate

(£)

1 Accounting and treasury 41 7,500 184

2 Closure procedures 5 1,526 308

3 Creditors 166 39,089 235

4 Employees & pensions 3 790 277

5 Investigations 20 3,392 168

6 Statutory and compliance 84 18,929 225

7 Strategy & Planning 23 7,414 323

8 Tax 12 2,895 251

9 VAT 20 4,980 255

Total for the case 373 86,514 232


Appendix E. - Statement of expenses

The Rules requires this progress report to include a statement of expenses incurred by the Liquidators during

the period of the report, irrespective of whether payment has been made or not. This relates to all costs

incurred, and not just the Liquidators’ disbursements. Such a summary of expenses is found below:

Statement of expenses from 18 September 2015 to 17 September 2016

Category

Unpaid expenses

as at

18/09/2015

(£)

Expenses

incurred in this

period

(£)

Expenses paid / to

pay until closure

(£)

Unpaid expenses

as at

17/09/2016

(£)

Former administrators' fees 124,202.65 - - 124,202.65

Storage 150.00 1,110.62 (1,260.62) -

Liquidators' disbursements - 417.81 - 417.81

Liquidators' remuneration 29,031.05 41,875.10 (16,085.20) 54,820.95

Statutory advertising - 137.22 (137.22) -

Total 153,383.70 43,540.75 (17,483.04) 179,441.41

Statement of expenses from 18 September 2016 to closure

Category

Unpaid expenses

as at

18/09/2016

(£)

Expenses incurred

/ to be incurred to

closure

(£)

Expenses paid / to

pay until closure

(£)

Final unpaid

expenses

(£)

Former administrators'

fees 124,202.65 - - 124,202.65

ISA fee - 25.75 (25.75) 51.50

Bank charges - 58.51 (58.51) 117.02

Liquidators' disbursements 417.71 70.22 - 487.93

Liquidators' remuneration 54,820.95 3,107.85 - 57,928.80

Total 179,441.31 3,769.94 (84.26) 183,295.51


Appendix F. - Notice of final meeting

and proxy form

CVL640F

Melloy Limited - in Liquidation

NOTICE IS HEREBY GIVEN, pursuant to Section 106 of the Insolvency Act 1986, that final meetings

of members and creditors of the above named company will be held at the offices of

PricewaterhouseCoopers LLP, Central Square, 29 Wellington Street, Leeds, LS1 4DL on

13 January 2017 at 10:00am and 10:30am respectively, for the purpose of receiving an account of the

liquidators’ acts and dealings and of the conduct of the winding up.

If you are not attending the meetings, in order to be entitled to vote, creditors must

ensure that proxies are returned no later than midday on the business day before the

meeting to PricewaterhouseCoopers LLP Central Square, 29 Wellington Street, Leeds,

LS1 4DL. If you have not already done so, creditors must submit a statement of claim

either at or before the meeting.

No formal resolutions will be put to the meeting, however, creditors may resolve against the joint

liquidators’ release. In the absence of such a resolution, the joint liquidators will automatically be

released from any liabilities they may have incurred.

Dated this 7th day of November 2016

Roger Hale

Joint Liquidator

Rule 8.1

Form 8.5

Insolvency Act 1986

Proxy (Creditors' Voluntary Winding Up)

Notes to helpcompletion of the

form

Melloy Limited – in Liquidation

Please give full nameand address forcommunication

Name of member / creditor............................................................................................

Address ......................................................................................................................

.......................................................................................................................................

.........................................................................................................................Please insert name ofperson (who must be

18 or over) or the"chairman of the

meeting" (see notebelow). If you wish toprovide for alternative

proxy-holders in thecircumstances thatyour first choice is

unable to attendplease state the

name(s) of thealternatives as well

Name of proxy-holder ...............................................................................................….

1................................................................................................................................…..

....................................................................................................................................…

2.....................................................................................................................................

.................................................................................................................................…...

3.....................................................................................................................................

..............................................................................................................…………………

Please delete wordsin brackets if the

proxy-holder is only tovote as directed ie he

has no discretion

I appoint the above person to be my/the creditor’s proxy-holder at the meeting ofcreditors to be held on 13 January 2017, or at any adjournment of that meeting. Theproxy-holder is to propose or vote as instructed below [and in respect of anyresolution for which no specific instruction is given, may vote or abstain at his/herdiscretion].

Voting instructions for resolutions

Any other resolutionswhich the proxy-

holder is to proposeor vote in favour of oragainst should be set

out in numberedparagraphs in the

space provided belowparagraph 1. If more

room is requiredplease use the other

side of this form.

……………………………………………………………………………………………..

……………………………………………………………………………………………..

……………………………………………………………………………………………..

……………………………………………………………………………………………..

……………………………………………………………………………………………..

……………………………………………………………………………………………..

……………………………………………………………………………………………..

This form must besigned

Signature…………………………………………………………….. Date………………….

Name in CAPITAL LETTERS………………………………………………………………

Only to be completedif the creditor has not

signed in person

Position with creditor or relationship to

creditor or other authority for signature: .…………………………………

Please note that if you nominate the chairman of the meeting to be your proxy-holder, he/she will either be the current liquidator or a member of their staff.

Remember: there may be resolutions on the other side of this form.

CVL640H

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