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Transcribed from a typescript copy, by Peter Brown, 2013
Mr. Thomas Watts Bailey

The Estate of the late Mr. Thomas Watts Bailey

BY HIS WILL, dated the 19th September, 1947, Codicil dated 10th January, 1952, the late Mr. Thomas Watts Bailey appointed Lloyds Bank Limited and his sons Horace Vandyke Bailey and Ralph Edward Bailey executors and trustees of his estate.  Mr Bailey died on the 13th January 1952, and Probate was granted to the executors out of the Principal Probate Registry on the 7th April, 1952.  The following statement shows the administration of his estate which by reason of a back duty claim was insolvent.  The whole of the residue of the estate, therefore, fell to be paid to the Commissioners of Inland Revenue.

Schedule 1 (cont.)

 

Probate Value

 

Brought forward

 

6545. 2. 4

 

2. The undermentioned security is retained pending the receipt of the final distribution

 

Cash distributions received to date

£42. 13. 8 Pall Mall Building Society Share Account

 

      6. 8. -

£7. 8. 5

 

 

£6551. 10. 4

 

3. The following holding was purchased and sold during the administration
 

Purchase Price

Amount of repayment

£500       3½% Defence Bonds

 

£500. -. -

£491. 5. -

SUMMARY

 

 

 

The proceeds of Sale under 1 above amounted to

 

7891. 11. 4

 

The proceeds of Sale under 3 above amounted to

 

  491.  5.  -

 

Cash distribution received under 2 above amounted to 

 

      7.  8.  5

 

 

 

8390.  4.  9

 

The Probate Valuation under 1 and 2 above amounted to

6551. 10. 4

 

 

The purchase price under 3 above amounted to

   500.  -.  -

7051 .10. 4

 

The profit therefore amounted to

 

£1338. 14. 5

 

Schedule 1
  
Stocks and Shares

1

The undermentioned stocks and shares held at the date of death have since been sold.

Probate Value

Proceeds of sale

£2178

British Transport 3% Gtd. Stock. 1978/88.

1666. 3. 5

1947. 11. -

700

Ascotts Pharmacies (1933) Ltd.  Ord. Shares of 5/-.

  109. 7. 6

    85. 19. 10

1600

Ascotts Pharmacies (1933) Ltd. 7% Cum. Pref. Shares of 10/-

  350. -. -

  447. 8. -

210

British Glues and Chemicals Ltd. 8% Cum. Part. Perf. Shares

  325. 10. -

  358. 4. 3

420

Imperial Chemical Industries Ltd. Ordinary Stock.

  945. -. -

1471. 7. -

420

Bonus issue July 1954

 

 

840

 

 

 

300

Jury Holloware Ltd. Ord. Shares of 5/- each.

  123. 15. -

  101. 3. -

3400

Owen (Thomas) & Co. Ltd. Ord. Shares of 1/- each.

  425. -. -

 

 

Converted into

 

 

£200

Wiggins Teape (1919) Ltd. Ord. Stock

 

  698. 18. 6

30

Triplex Safety Glass Co. Ltd. Ord. Stock Units of 10/-

    39. 7. 6

    43. 16. 6

500

Finch B & Co. Ltd. Ord. Shares of 2/-

    84. 7. 6

    88. 9. 10

500

Seddon Diesel Vehicles Ltd. Ord. Shares of 1/- each

    43. 15. -

    59. 16. 11

628

British Glues & Chemicals Ltd. Ord. Stock Units of 4/-

  408. 4. -

  506. 2. 6

£750

British iron & Steel 3½% Gtd. Stock, 1979-81

  656. 5. -

  644. 3. 3

1500

Baldwins (Holdings) Ltd. Ord. Stock Units of 4/-

  215. 12. 6

  245. 7. -

21

Roan Antelope Copper Mines Ltd. Ord. Stock Units of 5/-

  14. 16. 7

    18. 7. 11

750

Webb (George) & Sons (Northampton) Ltd. Ord. Shares of 2/6d

  135. 18. 9

  156. 3. -

£100

Unilever Ltd. 8% Cum. “&” Pref. Stock.

  139. 1. 3

  158.  -. 6

100

West African mines & Estates Ltd. 7% Pref. Shares of 2/6d.

      6. 13. 4

      6. 7. 4

300

West African mines & Estates Ltd. 7% Ordinary Shares of 2/6

    10. -. -

      9. 14. -

50

Lotus Ltd. 7% Pref. Shares of 31.

    62. 10. -

    60. 8. 5

200

Hills (F) & Sons Ltd. 4/- Ordinary Shares.

    67. 10. -

    56. 8. 2

50

Barratt (W.) & Co. Ltd. 7% Pref. Shares.

    60. 18. 9

    56. 13. 5

200

Barratt (W.) & Co. Ltd. Ord. Shares

  487. 10. -

  506. 1. -

50

Randall(H.E.) Ltd. Pref. Shares of £1.

    48. 8. 9

    56. 5. -

200

First Amalgamated Debenture Trust

    60. -. -

    50.  -. -

50

Sears (J.) & Co (True Form Boot Co.) 7% Cum. Pref. Shares

    59. 7. 6

    58. 15. -

 

Carried forward

6545. 2. 4

£7891. 11. 4

The assets in the estate at the date of death consisted of:-

 

 

Stocks and Shares as shown in Schedule 1

 

6551. 10. 4

Freehold properties as shown in Schedule 2

 

4450. -. -

Lloyds bank Ltd Deposit Accounts

 

3436. 4. 4

Rushden Industrial Co-operative Society Shares

 

  218. 17. 8

Rushden Industrial Co-operative Society Loan

 

    42. 7. 3

Rushden Industrial Co-operative Society Collective Life Association Claim

 

    43. 11. 4

Post Office Savings Bank with interest to date of death

 

      6. 18. 9

Northampton & County Trustee savings Bank with interest to date of death

 

  674. 14. 4

Leeds Permanent Building Society

 

  580. 13. 1

Salvation Army Assurance Society Ltd

 

    26. 5. -

Cash in house

 

    10. 7. 6

Rents to the date of death

 

    51. -. 10

Uncashed warrants

 

    26. 12. 4

Dividends quoted ex-dividend at the date of death

 

      7. 16. 3

 

 

16126.19.-

LESS       Funeral Expenses

    42. -. -

 

                Accounts outstanding at date of death

  298. 13. -

  340. 13. -

The amount on which estate duty would have been payable was therefore (but see page 1)

15786. 6. -

To this must be added:-

 

 

1.       Balance of Income as shown in accompanying Income Statement

  956. 15. 4

 

2.       Profit on sale of Stocks and Shares as shown in Schedule 1

1338. 14. 5

 

3.       Compensation received for dilapidation re 56 Chilton Road

    91. 1. 9

 

4.       Payments made under Town & Country Planning Act re 2 The Avenue Rothwell

  401. 13. 9

2788. 5. 3

THE TOTAL AMOUNT AVAILABLE FOR ADMINISTRATION was therefore

 

18574. 11. 3

THE TOTAL AMOUNT AVAILABLE FOR ADMINISTRATION (£18574. 11. 3d.)
Has been dealt with as follows:-

1.       Cash payments have been made:-

 

 

                Expenses attending the administration as shown in Schedule 4

 

1770. 10. -

2.       The following payments have been made to the Inland Revenue in accordance with the recitals on page 1

                20th September, 1956

                7th February, 1957

10000. -. –

  1000. -. -

 

Estate duty and interest refunded direct to Accountant-General in February, 1957

3213. 18. 10

14213. 18. 10

 

 

 

3.       The residue of the estate is held as follows:-
The following assets are still held pending sale:-
110 Washbrook Road                £1425
Piece of land in Washbrook Rd   £700
Cash in hand

2125. -. -
  465. 2. 5



2590. 2. 5

 

 

18574. 11. 3

Freehold Properties

Probate value

Properties sold:-


                56 Chiltern Road, Dunstable

1300. -. -

                104 Harwood Street, Camden Town

  300. -. -

                21,23,25 & 27 Justice Street, Leicester

  325. -. -

                2 The Avenue, Rothwell

  200. -. -

                2 & 2a Jennings Road, S E 22

  200. -. -


2325. -. -

Properties still held (Probate Value):-


                110 Washbrook Road

1425. -. -

                Piece of land in Washbrook Road

  700. -. -


£4450. -. -

Schedule 3

 

                                Accounts outstanding at the date of death

 

Drs Lean, Pickard & Cunningham

      3. 5. 6.

Schedule “A” Tax, 1951/52

    13. 12. 7

Messrs. Parker & Groome

  182. 15. 3

Northampton Town & County Building Society Mortgage

    91. 13. 8

21, 23, 25 & 27 Justice Street: Rates for the quarter ended 31.12.57

      6.19. 6

Bell & Mitchell: Agents Commission

            6. 6

 

£298. 13. -

Schedule 4

 

 

Expenses of administering the Estate

 

 

Messrs. Parker & Groom:

 

 

                Law Costs to date

625. -. -

 

                Conveyancing Fees

 

 

                                Justice Street properties

     7.17. 6

 

                                Jennings Road properties

     7. 4. 6

 

                                56 Chiltern Road

    27. -. -

 

                                2 The Avenue

    21. 7. -

 

                                104 Harwood Street

     7. 13. -

 

                Disbursements

    39. 5. 6

  735. 7. 6

Lloyds Bank Ltd: Capital Fees

 

  531. 6. 6

Messrs C A Allcorn: Commission and costs re 56 Chiltern Road

 

  107. 2. -

Messrs Andrew & Ashwell: Commission re sale Justice Street properties

 

    26. 5. 3

Messrs Dent & Co: Commission re Jennings Road properties

 

    10. -. -

Messrs Stickley & Kent: Commission re 104 Harwood Street

 

    30. -. -

Messrs Sidney Simon & Co: Fee for preparing back statements of dividends

 

  105. -. -

Messrs Gillett & Gillett: Valuation Fees,

                Fees re Income Tax work

 

4.4. –

  132. 6. -

Sundry small expenses, postages, copying accounts, commissioners fees, registration fees, etc.

 


    88. 18. 9

 

 

£1770. 10. -

Statement of Income
From the estate from the date of death

£2178

British Transport 3% Gtd Stock 1978/88

July 1952

    17. 3. -

 

 

Jan 1953

    17. 3. -

 

 

July 1953

    17. 19. 4

 

 

Jan 1954

    17. 19. 4

 

 

July 1954

    17. 19. 4

1600

Ascotts Pharmacies (1933) Ltd. 7% Cum. Pref. Shares

July 1952

 29. 8. -

 

 

June 1953

    30. 16. -

210

British Glues & Chemicals Ltd. 8% Cum. Part. Pref.Shares

Aug 1952

 6.12. 4

 

 

Feb 1953

      4.8. 2

 

 

Aug 1953

      6.18. 7

 

 

Feb 1954

      4.12. 5

 

 

Aug 1954

      6.18. 7

£420

Imperial Chemical Industries Ltd. Ord. Stock.

July 1952

    22. 1. -

 

 

Dec 1952

    11. -. 6

 

 

June 1953

    18. 9. 7

 

 

Dec 1953

    13. 17. 2

 

 

June 1954

    20. 15.10

300

Jury Holloware Ltd. Ord. Shares of 5/-

July 1952

      5.18. 1

 

 

July 1953

      6.3. 9

 

 

July 1954

      6.3. 9

3400

Owen (Thomas) & Co. Ltd. Ord. Shares of 1/-

Jan 1953

    13. 7. 9

30

Triplex Safety Glass Co. Ltd. Stock units of 10/-

Oct 1952

      1.3.8

 

 

Nov 1953

      1.4.9

500

Finch (B) & Co. Ltd. Ord. Shares of 2/-

May 1952

      2.12.6

 

 

Dec 1952

      1.6. 3

 

 

May 1953

      2.15. -

 

 

Dec 1953

      1.7. 6

 

 

May 1954

      2.15. -

500

Seddon Diesel Vehicles Ltd. Ord. Shares of 1/-

April 1952

      1.6. 3

 

 

Nov 1952

      1.6. 3

 

 

May 1953

      1.7. 6

 

 

Nov 1953

      1.7. 6

 

 

May 1954

      1.7. 6

 

Carried forward

 

  315.15. 2

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