W H Sports

Sorry if this has been posted before, but a new document has appeared at Companies House in relation to W H Sports.

The document is the Liquidators Statements of Receipts and Payments (S. 192 Insovency Act 1986)

I'm not claiming to be an expert on what it states but some of it does appear to be interesting. Firstly the winding up order is now a complusary or a creditors liquidation and not voluntary as Ridsdale claimed. This was filed on 21/04/2010 exactly 12 months after the liquidation process started.

The total assets of WH Sport amount to £24,091.31 which unbelievably included a VAT REFUND of £358.51

We then move onto disbursements which I think are expenses incurred by Ridsdale during the liquidation process, although I stand to be corrected if that's wrong. The total cost amounts to £9,013.07, including Ridsdale claiming £7,500.00 for the preparation of a 'statement of affairs' in April 2009. That seems a hell of a lot as I have seen that Statement of Affairs and it amounts to about 3 pages

This leaves WH Sports with total assets of £15,078.24 against unsecured debts of £409,899.82. So far the 2 directors Mr & Mrs Ridsdale have paid a total of £100 off that debt.

The report finishes by stating their are no other assets within the company, the matter is under investigation and will be conclued ASAP.

So even if he sells all of WH Sports assets he still owes creditors over £300k???

If he has that under his personal wealth surely he should be liable to pay that. If not, that's disgusting.

So even if he sells all of WH Sports assets he still owes creditors over £300k???

If he has that under his personal wealth surely he should be liable to pay that. If not, that's disgusting.

Actually Zab under company law as W H Sports is a 'Limited' (limted liability) company, Ridsdale is only liable for debts up to the value of his shares (£100)

However, Since '62 has previously explained that if the liquidator concludes in his investigation that as a director Ridsdale was trading insolvently and deliberatly trying to avoid payment of debts, then he can be made liable for the whole lot.

WH SPORTS is also now in the hands of the Fraud Squad.

WH SPORTS is also now in the hands of the Fraud Squad.

- and the moral of the story is "don't f**k with the bloobirds"

WH SPORTS is also now in the hands of the Fraud Squad.

- and the moral of the story is "don't f**k with the bloobirds"

Sorry if this has been posted before, but a new document has appeared at Companies House in relation to W H Sports.

The document is the Liquidators Statements of Receipts and Payments (S. 192 Insovency Act 1986)

I'm not claiming to be an expert on what it states but some of it does appear to be interesting. Firstly the winding up order is now a complusary or a creditors liquidation and not voluntary as Ridsdale claimed. This was filed on 21/04/2010 exactly 12 months after the liquidation process started.

The total assets of WH Sport amount to £24,091.31 which unbelievably included a VAT REFUND of £358.51

We then move onto disbursements which I think are expenses incurred by Ridsdale during the liquidation process, although I stand to be corrected if that's wrong. The total cost amounts to £9,013.07, including Ridsdale claiming £7,500.00 for the preparation of a 'statement of affairs' in April 2009. That seems a hell of a lot as I have seen that Statement of Affairs and it amounts to about 3 pages

This leaves WH Sports with total assets of £15,078.24 against unsecured debts of £409,899.82. So far the 2 directors Mr & Mrs Ridsdale have paid a total of £100 off that debt.

The report finishes by stating their are no other assets within the company, the matter is under investigation and will be conclued ASAP.

Tony

I haven`t seen the actual documant but this will be the annual receipts and payments account that the liquidator is obliged to file.It is an account of the Liquidator`s transactions after his appointment , NOT that of the company WH Sports.

I have commented lots of times on here and elsewhere about the liquidation being a Creditors` Voluntary Liquidation (CVL) , not a solvent Members` Voluntary Liquidation (MVL).

The £7,500 Statement of Affairs fee is the amount paid to the liquidator , NOT to Ridsdale. I would think that the rest of the costs relate to sending out formal notices to creditors and advertising the liquidation in the London Gazette and local newspapers (as is required by law).

When you refer to "total assets" of about £20k , that should relate to receipts rather than assets and appears mainly to be the handing over of the small balance that was sat on a Barclays Bank account (can you confirm?).The v.a.t. refund will be the net recovery of v.a.t. on the above expenses incurred by the liquidator.

The £100 is unlikely to be a repayment of debt by Mr and Mrs Ridsdale , but just a record of how much they put in in shares in the first place.


Keith

Sorry if this has been posted before, but a new document has appeared at Companies House in relation to W H Sports.

The document is the Liquidators Statements of Receipts and Payments (S. 192 Insovency Act 1986)

I'm not claiming to be an expert on what it states but some of it does appear to be interesting. Firstly the winding up order is now a complusary or a creditors liquidation and not voluntary as Ridsdale claimed. This was filed on 21/04/2010 exactly 12 months after the liquidation process started.

The total assets of WH Sport amount to £24,091.31 which unbelievably included a VAT REFUND of £358.51

We then move onto disbursements which I think are expenses incurred by Ridsdale during the liquidation process, although I stand to be corrected if that's wrong. The total cost amounts to £9,013.07, including Ridsdale claiming £7,500.00 for the preparation of a 'statement of affairs' in April 2009. That seems a hell of a lot as I have seen that Statement of Affairs and it amounts to about 3 pages

This leaves WH Sports with total assets of £15,078.24 against unsecured debts of £409,899.82. So far the 2 directors Mr & Mrs Ridsdale have paid a total of £100 off that debt.

The report finishes by stating their are no other assets within the company, the matter is under investigation and will be conclued ASAP.

Tony

I haven`t seen the actual documant but this will be the annual receipts and payments account that the liquidator is obliged to file.It is an account of the Liquidator`s transactions after his appointment , NOT that of the company WH Sports.

I have commented lots of times on here and elsewhere about the liquidation being a Creditors` Voluntary Liquidation (CVL) , not a solvent Members` Voluntary Liquidation (MVL).

The £7,500 Statement of Affairs fee is the amount paid to the liquidator , NOT to Ridsdale. I would think that the rest of the costs relate to sending out formal notices to creditors and advertising the liquidation in the London Gazette and local newspapers (as is required by law).

When you refer to "total assets" of about £20k , that should relate to receipts rather than assets and appears mainly to be the handing over of the small balance that was sat on a Barclays Bank account (can you confirm?).The v.a.t. refund will be the net recovery of v.a.t. on the above expenses incurred by the liquidator.

The £100 is unlikely to be a repayment of debt by Mr and Mrs Ridsdale , but just a record of how much they put in in shares in the first place.


Keith

That's a 100 quid more than he put into CCFC