I am delighted to let you all know that ILR have been granted to us (me n my wife) yesterday at Croydon PEO. This forum have been so helpful and informative for me through out the process. Keep this on guys, really appreciate moderators and group members to keep this forum live and a successful forum.
Ok. Let me tell you about my experience and background.
I was on Tier1 General since Nov2008. My entry was delayed and I entered UK for the first time in Feb 2009, outside the 90 days concession period. so I had to do 2 Tier1 extentions to qualify for ILR. I did my 1st extention from Croydon in July 2011. And 2nd in Mar 2013 from. I had a baby girl who got dependent visa with my 2nd extension as she needs to travel to my home country. But I didn't include her in my ILR application as I will be filing her MN1 registration as a child born in UK with parents on ILR. Let me tell you that Croydon PEO is no more like the old PEO. The service standard and environment have evolved to a standard now. The experience was very smooth and it went very well for all of the guys who attended the PEO on a weekend.
Let me tell you the experience of yesterday. My appointment was at 10:15 but I reached there about 9:00. I reached there earlier as I have heard flood warnings in Croydon for yesterday on BBC. It was very windy as expected and raining heavily. I parked my car in-front of Lunar house in Whitgift shopping center for £3.50 a day. It was a very good deal. Even in weekdays it costs £5 for the whole day. There is another NCP parking besides this parking that costs around £4.40 for 2-3 hours. So I went to the shopping center, had a coffee and yummy chocolate fudge cake slice to freshen up. Than left for Lunar house. I entered the Lunar house at about 9:45 and was allowed to pass the security checks with my wife and baby. than a lady took us to the 3rd floor to get token. I was given token no and I had only 1 family in front to get their case registered. My no was called within 5 minutes and we went to register our case. It took 15 minutes to register our case. The lady there was very helpful and kind. She took all of my docs (original and photocopies) and placed them in a clear envelope and handed it back to me and asked to wait in the seating area to be called for Bio-metrics. But our no was called straight away and we went to give our bio-metrics. It took about 15 mins to get biometrics (me n wife) and we were sent to cafeteria to wait for the results. By 10:30 I was in waiting area (quick process). After about 11am I got a call from Visa Officer that he wanted to speak to my wife. He asked my wife, when did she first entered UK and whether she has been living here for 2 years. The officer asked her how can she apply if she has not passed 5 years in UK. She passed the phone to me to speak to the guy. I told her that I am the main applicant and she is a dependent and not main applicant.
. Than the guy said ooh I thought she is the main applicant 
. I was surprised with that statement. But anyways he got it realized and started working on the file. I kept waiting and about an hour my no was called to collect the documents. I went to collect the result heavy heartedly and reached counter 43. The guy there congratulated me and I was happy to hear the golden words "Congratulations! your application have been approved." I asked him whether my wife got approved aswell.= and answer was positive. Hurray... finally 5 years time is over and we achieved our goal. I checked all the documents and find them intact. And then we were escorted out of PEO. We went to the shopping center to read the letter given to us. Aaah I was so relieved to read that letter. 
Let me tell you the list of documents that I submitted with my application.
1- Payment receipt
2- Set(O) Form
3- LIUK Certificate (me n wife)
4- Original UK degree for myself
5- IELTS Test certificate for my wife
6- HMRC Employement letter (covering 5 years)
7- Personal Bank Statements
8- Payslips for my permanent job (6 months)
9- payslip for my company (6 months)
10- Dividend Voucher
11- Accountant Letter
12- Accountant letter giving his details, registration etc
13- Company management Accounts
14- Company documents
15- Business Account Statements
16- Company Invoices
17- Cohab Documents (SE bills, Water Bills, Joint Acnt statements, Council bills, Voter registration, Marriage Certificate, UKBA letter for last extention)
I had highlighted all the salary & dividends payments in my personal and business statement with yellow highlighter and all payments in business account from my client in pink colour to make it easier for Visa officer to track payments. Also I put notes and clipped them together to separate each category of documents. I will highly recommend to make it easier for visa officer.
I hope this story will help other forum members who are inline to apply for Set(O). I wish good luck to all and I am very thankfull to all the follow members who made this journey very easy for me to gat this achievement.
Regards
Enjoy your ILR.