ACCOUNTS REQUIRED
This can be summarized depending on the nature of the situation. In a receivership you may be required to prepare a receivers receipt and payments. In the process of liquidation you have various reports. They can be summarsed as follows:
Pro-forma Statement of Affairs of a Company in Compulsory or Creditors’ Voluntary Liquidation
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STATEMENT OF AFFAIRS AS AT…….
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Assets not specifically Pledged:
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 Est. Realisable
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Values (Sh)
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Balance at bank
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xx
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Investments
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xx
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Trade debtors
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xx
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Stock-in-trade
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xx
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Fixed Assets
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xx
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xx
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Assets specifically
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pledged
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Est. Realisable
Values (sh)
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Due to secured
crs (sh)
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Deficiency unsecured (sh)
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Surplus to last (sh)
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Asset 1
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xx
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xx
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xx
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xx
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Asset 2
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xx
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xx
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xx
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xx
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xx
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xx
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xx
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 xx
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Estimated Surplus from assets specifically pledged
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 xx
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ESTIMATED TOTAL ASSETS
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xx
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Gross
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Liabilities
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Liabilities (sh)
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xx
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Secured creditors (Fixed charge)
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xx
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Preferential creditors
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(xx)
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Estimated surplus for unsecured creditors and
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xx
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Creditors secured by a floating charge.
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xx
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Secured creditors (Floating charge)
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(xx)
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Estimated surplus for unsecured creditors
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xx
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Unsecured creditors:
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xx
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-Trade creditors
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xx
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xx
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- Bank overdraft
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xx
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xx
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- Contingent liabilities
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xx
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xx
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- Unsecured deficiency on pledged assets
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xx
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xx
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xx
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Estimated deficiency as regards unsecured creditors
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(xx)
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Issued and called up share capital
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(xx)
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ESTIMATED DEFICIENCY AS REGARDS MEMBERS
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xx
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Pro-Forma “Deficiency or Surplus Account”
DEFICIENCY OR SURPLUS ACCOUNT
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Items contributing to deficiency (or reducing surplus)
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Shs
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shs
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1) Excess of capital and liabilities over assets 3 years
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before winding up (if any)
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xx
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2) Dividends and bonuses declared
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xx
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3) Net trading losses
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xx
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4) Losses other than trading losses written off
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xx
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5) Estimated realization losses
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xx
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6) Other items contributing to deficiency
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xx
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xx
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Items reducing deficiency (or contributing to surplus)
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7) Excess of assets over capital and liabilities 3 years
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before winding up order (if any)
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xx
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8) Net trading profits
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xx
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9) Profits and income other than trading profits
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xx
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10) Other items reducing deficiency or contributing surplus
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xx
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xx
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DEFICIENCY AS PER STATEMENT OF AFFAIRS
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xx
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