Carnaby Feature Films PLC - ?

lpgm

They've just sent out a letter saying that Carnaby Motion Pictures (Are You Ready for Love?) is going to be struck off at Companies House. No return to either A or B shareholders.

janeywins

Beaware,
I was also sent documentation from them (goodnesss knows where they got my address details from) asking me to invest in "Still Waters" last year and thank God I saw this forum and this thread before I did so. I wrote a thank you post on this thread saying that I was all set to invest until I saw what other people had written but surprisingly my post seems to have been one of those that was deleted! It is awful that investors have received nothing in return and I wholeheartedly agree with you that they should be revealed on Watchdog.

TheLastDropper

ok, I'm a little confused by post #129. I invested in The Last Drop film as well, ran the above response from Wilenho past my IFA who told me at the time not to invest. After having to take the "I told you so" lecture for 10 mins like a man, we went through the accounts and I have the following points/ questions:

1- the company raised £5.6m from us lowly investors, this is confirmed in the public accounts. Somewhere I have the marketing letter I was sent that said they needed more money for computer graphics effects. So if the film cost £2.4m why did they raise another £3.2m? Where did the £3.2m go?

2- on top of the £3.2m there has been the sale income (£600k it seems) plus the "sale leasback" income of £??. Wheres it gone?

3- every year there are about £250k of "admin costs" - what is this for? What could they possibly be doing still to justify this? The film tanked, nothing is happening with it

4- the cummulative loss is £4.46m so far. So if the film has failed why not hand back the remaining £1.1m to investors? It seems the company just exists to incur the "admin costs", paid to whom???

5- why has the company I invested in to make the Last Drop provided interest free loans of over £1/3m to other Carnaby companies. It is not a group, these are stand alone companies that happen to have "Carnaby" in the name and be run by the same people (same two directors and two film producers). Why is MY money given away free to support their other ventures?? :mad:

6- on looking at the other Carnaby companies, including those these loans have been provided to why are they paying on fees to the privately owned Carnaby Production and Management Services Ltd (owned by the producers of Last Drop). each company has paid about £1/3m to 1/2m to them in the past few years.

7- each Carnaby company has £15-20k of tangible costs for the website being depreciated in the P&L. If you add them together they seem to be claiming they spent around £100k for the Carnaby website. Really?! Its rubbish!

8- for the Last Drop, where does the privately owned The Drop Pictures Ltd fit in? There seem to have been a number of private companies involved in all the productions, were they subcontracted/paid by the PLCs funded by investors?? The Drop Pictures ltd is owned by the two producers of The Last Drop seems in decent health with net assets of £1.6m!!! The share capital put in was only £2!!

The above was noted in less than a half hour of checking out the accounts, so if there are any forum users well versed in accounts, can they download and examine into these accounts for the PLCs and the private companies?

If you google "Level Business" you can get all these accounts direct from Companies House for free. Just search one company and they all link up via the director names, two Carnaby directors and two producers.

Come on, Carnaby. You need to explain.

david_waugh

Carnaby Films A lonely place to Die Still Waters

I am a student of the world of film and was very impressed by Carnaby's share offerings. I have invested in two films but now having done further research I now question my choice. Despite all the fine words & apparent success of a small number of their films I cannot find anywhere any evidence that any shareholders in their various films have ever had their money back, let alone any profits.

In my last conversations with Carnaby I did challenge them to supply some financial accounts or other documentation to support their claims shreholder profits to be made but so far nothing has been forthcoming. The only accounts I have seen show trading losses.

However if anyone can prove to me that they have made returns form shares they have bought in any carnaby film there is a bottle of champagne waiting for them here in my office.

rockitup

david_waugh wrote: »

Carnaby Films A lonely place to Die Still Waters

I am a student of the world of film and was very impressed by Carnaby's share offerings. I have invested in two films but now having done further research I now question my choice. Despite all the fine words & apparent success of a small number of their films I cannot find anywhere any evidence that any shareholders in their various films have ever had their money back, let alone any profits.

In my last conversations with Carnaby I did challenge them to supply some financial accounts or other documentation to support their claims shreholder profits to be made but so far nothing has been forthcoming. The only accounts I have seen show trading losses.

However if anyone can prove to me that they have made returns form shares they have bought in any carnaby film there is a bottle of champagne waiting for them here in my office.

Think you should kiss your 2 investments with this crowd goodbye David. I doubt that any of their films will be returning profit to the shareholders [TEXT DELETED BY FORUM TEAM]

Better luck with your next investments

RajJohal

Hello,

After losing my money on Carnaby over 5 investments since 2002, I can advise anyone not to bother.

In August 2010 the first investment had a DS01 notice come through.

This has now been followed by a Second DS01 notice for the investment I made in 2004.

Everytime I invested in their new venture it was on the basis of being told my previous investment had broken even, shuld soon be in profit, everything looks good... blah..blah...blah.. If at any time they had said you will not be seeing a return i would not have invested more money with them... this morning i had them write to me, asking me to call i did so and left a nice message.. I said who i was and politely said if you contacting me to get more money dont f****** call me.

Colley_Cibber

Honesty would be a fine thing, Adam Ickle. Yet you write:

>>>my point is that they are the real deal and they make great films<<<

and you ignore anyone who discusses investment.

I quite enjoyed "The Bridge of Lies" aka "Caught in the Act." I'd encourage anyone on this BB who has not seen it to buy a copy. As an investor, it'll sadly be too late to bring me any return. The Carnaby production company has just gone into liquidation. [TEXT DELETED BY FORUM TEAM]

Adam Ickle is quite clearly on an agenda. Supposedly informed, he didn't know the "Wolley Wibber" name that his discredited sidekick "Heaven James" had called me. Oh dear. Didn't read the BB or else pretended otherwise. [TEXT DELETED BY FORUM TEAM]

[TEXT DELETED BY FORUM TEAM]

Good films and maybe getting better but, so far, EVERY film has lost money for investors and has no hope of returning even the capital invested. This is not the way it should be.

And now look out for "Carnaby's Othello plc" registered on 11th January 2012 as company 07905873.





CC

thegorganzolacheese

I was asked to invest in this company and, after receiving the prospectus for 'The Wee Man,' I decided the investment was too risky and did not invest. This resulted in someone from the company ringing me and insulting me on the phone. If this is their attitude, I would advise everyone to have nothing to do with them. Even if they make great films (and this is by no means certain) they certainly don't know how to treat potential investors and I suspect actual investors aren't treated any better.

Now I hear they've gone bust....well what a surprise.......

TheLastDropper

I was contacted recently about investing in Carnaby International Pictures PLC. just checked and they issued over £1.4m of shares a couple of weeks ago to a new batch of investors to make a film called Still Waters. Despite no previous investors getting a penny back it seems...I don't think that material fact was part of the pitch.

right_to_justice

I too am receiving literature and phone calls from this company trying to get me to invest. I think all the useful information on this site has advised me to say no. Thanks everyone.