REPUBLIC OF KENYA

IN THE HIGH COURT OF KENYA AT NAIROBI

(MILIMANI COMMERCIAL COURTS AND TAX DIVISION).
IN INSOLVENCY CAUSE NO 010 OF 2024.
IN THE MATTER OF TASKA MATIRASSES LIMITED.

RE: TASKA MATIRASESS LIMITED

L.O. made on 1ST JANUARY 2023 OF TASKA MATIRASESS LIMITED.

STATEMENT OF ACCOUNTS OF THE LIQUIDATION (Section 402(1) of the Insolvency

Act)

1. No. of Company: PLC/987654/2010/TASKIMS.

2. Name of company: TASKA MATIRASESS LIMITED.
3. Presented by: MOCHECHE MOSOTI.
4. Statement showing how the liquidation has been conducted and how the property of the
Company has been disposed of from 1ST JANUARY, 2023, to 14TH MARCH 2024.

STATEMENT OF ASSETS AND LIABILITIES AS AT 13TH MARCH 2024.

ASSETS ( SHS.)
Cash at bank 5,000,000
Cash in hand 1,000,000
Marketable Securities 8,000,000
Sundry debtors 4,000,000
Stock-in-trade 12,000,000
Work in progress 3,000,000
Freehold property 20,000,000
 Leasehold property 7,000,000
Plant and machinery 10,000,000
Furniture, fittings, utensils, 2,000,000
- Patents, trademarks. 1,000,000
- Investments other than marketable securities 15,000,000
- Surplus from securities 3,000,000
- Unpaid calls at the commencement of liquidation 2,000,000

Total Assets 93,000,000

Total Liabilities [93,000,000]

Net Assets [000]

Receipts (in KSH. Millions) Payments (in KSH. millions)

Cash at bank 50.0 Costs of Advocate to Other law costs 5.0
Cash in hand 5.0 Liquidator's remuneration (where applicable) 8.0
Marketable Securities 80.0 5% on Realized Assets 12.0
Sundry debtors 40.0 10% on Distributed Assets 10.0
Stock-in-trade 120.0 Auctioneers' and valuers' Charges 20.0
Work in progress 30.0 Costs of possession and maintenance of estate 25.0
Freehold property 200.0 Costs of notices in Gazette and newspapers 15.0
Leasehold property 70.0 Incidental outlay 8.0
Plant and machinery 100.0 Payment of 5% per 15,750 Shs. Realized 15.0
Furniture, fittings, utensils, etc. 20.0 Payment of 10% per 7,500 Shs. Distributed 5.0
Patents, trademarks. 10.0 Debtors 12.0
Investments other than marketable securities 150.0 Payment of 2% per 15,000 Shs. 3.0
 Surplus from securities 30.0
Unpaid calls at the commencement of liquidation 20.0
Total Receipts 927.0 Total Payments 153.0
Net Realizations 774.0

Dividend of 10% on 80,000 Shs. 8.0

Returns to contributors 5,000 2.0 per share 0.3

Balance 763.7

(v) Employees—Wages due before the winding-up of 7,500

Additional Remarks:
The estimated liabilities have been assumed to be 93 million, resulting in net assets of zero. The
liquidation process is in accordance with the provisions of the Insolvency Act.
5. State number. Preferential creditors need not be separately shown if all creditors have been
paid in full.
6. State nominal value and class of share. Ordinary shares of nominal value Shs. 100 each.
(i) Assets, including those shown in the statement of assets and liabilities and estimated to be of
the value of 50,000 shillings have proved to be unrealizable. (ii) State the amount paid into the
Companies Liquidation Account in respect of 30,000 Shs. (a) unclaimed dividends payable to
creditors in the liquidation 12,000 (b) other unclaimed distributions in the liquidation 8,000 (c)
Monies held by the company in trust in respect of dividends or other sums due before
commencement of the winding up to any person as a member of the company 10,000 (iii) Add
here any special remarks the liquidator thinks desirable—

________________________________
MOCHECHE MOSOTI
Liquidator.