Carnaby Feature Films PLC - ?

paulman99

Continuing onto the next failing film - have just seen the accounts for Carnaby Feature Films plc - the company covering The Bridge of Lies - which has a 500k loss set down to "impairment of film rights". There was a similar figure for 2010.

To a layman they are suggesting that the film is such a flop that it will never make any money - BUT thinking further, there is no reason to take a big chunk of the £2m shareholder money out of the business because of this. The money hasn't been lost. It's not as if it has been spent in the making.

What we have is the company being valued at £2m to begin with (as it has £2m cash in hand), but is deemed to be worth £500k less each year because the film it made is a flop. While this is true, the underlying fact is that a large amount of the investors money is still in there, so there is no reason to reduce the value so drastically.

I suggest anyone who can votes against this financial report - not that I believe the damage can be undone. I'm sure that the laywers and accountants have it sewn up, and there is no way of staging a shareholder takeover.

Max3456

Reaper wrote: »

I'm afraid the cold calling rules are the opposite. It is the FSA regulated firms which are not allowed to cold call. Here is the rule:
As a result the simple rule is never to buy an investment product from a cold call.

I have read the page via your FSA link .... but it seems to say cold calling for this type of investment is banned, surely?

minxmandy

I've been receiving call from them, had dvd's through the post and received booklets about up and coming films! I have not invested any money in nor would i invest in a company that cold calls. Just got off the phone to them and they are calling back tomorrow.Can't wait for them too. As i'm in London this weekend i'm going to suggest i come see them in person!

minxmandy

Isn't there someone to report them too. Surely what they are doing is wrong.

volvoD5

paulman99 wrote: »

Continuing onto the next failing film - have just seen the accounts for Carnaby Feature Films plc - the company covering The Bridge of Lies - which has a 500k loss set down to "impairment of film rights". There was a similar figure for 2010.

To a layman they are suggesting that the film is such a flop that it will never make any money - BUT thinking further, there is no reason to take a big chunk of the £2m shareholder money out of the business because of this. The money hasn't been lost. It's not as if it has been spent in the making.

What we have is the company being valued at £2m to begin with (as it has £2m cash in hand), but is deemed to be worth £500k less each year because the film it made is a flop. While this is true, the underlying fact is that a large amount of the investors money is still in there, so there is no reason to reduce the value so drastically.

I suggest anyone who can votes against this financial report - not that I believe the damage can be undone. I'm sure that the laywers and accountants have it sewn up, and there is no way of staging a shareholder takeover.

I enquired recently about selling my shares in Carnaby Films because I needed the cash, but received the reply that they do not offer a share buy-back scheme, and therefore it was not possible to sell the shares. I have had 20% EIS from the taxpayer, but the other 80% has effectively been a donation - no dividends have been received. Therefore if you can't afford to lose the money, resist the hard sell and don't invest !

Max3456

Just checked and the latest offer I was sent for CARNABY INTERNATIONAL PICTURES PLC has raised just short of £1.5m for a film called "Still Waters".

Max3456

benfleetcons wrote: »

Does any one know if there has ever be a dividend paid out on any film produced by these people.

all these companies are plcs, so any dividend has to be legally be recorded in the accounts, same with tax paid on profits. None of the accounts show dividends and I think only one company paid a small amount of tax in one year.

paulman99

Well, hardly surprising - I now have the winding up notice for Canaby Feature Films, the umbrella for what got renamed to 'Caught in the Act' (they do like renaming and changing the whole storyline). Obviously Carnaby itself still goes on strongly. But that only pays the company directors!

Would love to find a legal loophole to force them to declare where the money had been spent. Just depreciating the company works for company house but doesn't for us foolish investors. There must be someone to take them to task?

They have successfully squandered, what was it? £1.5m? I just hope that the actors, producers, etc, oh and company directors enjoyed my (and the taxman's) money. You would have thought the taxman would have complained, at least!

Never again.

perbinder

I am so glad I found this forum. I have been contacted many times by Carnaby over the years and I was about to hand over 2 grand last week for the latest incarnation of Carnaby Othello plc.

I have just had Chris on the phone, who has said that this is all lies and that people have been paid returns.

I am not convinced. Thank you once again money saving expert!

jimjames

Apc wrote: »

I don't understand why all of the carnaby projects end up being in the red. Why is it that none of the projects are ever profitable .

It's simple really. If you have someone that is determined to fleece every penny from a company that they can extract legally then there will be no profit and investors will not see any return.