AnnuAL REPORT OF BORD SCAnnÁn nA ... - Irish Film Board

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THE INvESTIGATOR
13. Capital Reserve
notes 2009 2008
I I
Balance at 01/01/09 1,859,291 2,550,172
Investment in Films 3 (283,767 ) (709,008 )
Movement in Fixed Asset Funding (74,650 ) 18,127
Balance at 31/12/09 1,500,874 1,859,291
The movement in Fixed Asset funding is comprised as follows:
Income allocated for Capital purposes 21,529 144,627
Amortisation (96,179 ) (126,500 )
Total (74,650 ) 18,127
14. Commitments
Feature Documentary Animation Distribution
Production* Production Production Loans Schemes Total
Production Loans I I I I I I
Commitments @ 01/01/09 1,433,807 785,681 477,500 61,671 302,795 3,061,454
Commitments in 2009 10,910,076 1,663,800 869,000 407,180 882,501 14,732,557
Commitments expired in 2009 (15,000 ) - - - - (15,000 )
Total Commitments 12,328,883 2,449,481 1,346,500 468,851 1,185,296 17,779,011
Payments in 2009 (10,977,337 ) (1,724,010 ) (1,094,700 ) (394,581 ) (911,031 ) (15,101,659 )
Commitments at 31/12/09 1,351,546 725,471 251,800 74,270 274,265 2,677,352
* Included in both the commitment and payment for Feature Production is an amount of €293,860 in respect of project related expenses and production
legal costs.
Animation Feature Documentary
Development Development Development MPD Total
Development Loans I I I I I
Commitments @ 01/01/09 80,001 261,498 20,001 495,627 857,127
Commitments in 2009 148,000 1,842,585 - - 1,990,585
Commitments expired in 09 - (32,500 ) (20,001 ) (22,627 ) (75,128 )
Total Commitments 228,001 2,071,583 - 473,000 2,772,584
Payments in 2009 (168,000 ) (1,560,585 ) - (473,000 ) (2,201,585 )
Commitments at 31/12/09 60,001 510,998 - - 570,999
15. Provisional Offers of Assistance to Film Projects
In addition to the contracted commitments outstanding at year-end of €3,248,351, disclosed in Note 2 , an additional €4,137,500 in
respect of provisional offers of assistance was outstanding. The major portion of such commitments, €3,830,000 is in respect of feature
productions where offers are subject to certain terms and conditions including cast, crew, recruitment and financial structure. They
remain valid for 12 months at which stage they are subject to review. These offers are also conditional on the availability of Board’s funds.
The Board also had unquantified offers of assistance to a further six feature productions at the year end.
OCCI vERSuS THE WORLD
16. Board Members - Disclosure of Transactions
In the normal course of business the Irish Film Board may approve assistance to film projects and enter into other contractual
arrangements with undertakings in which Board Members are employed or otherwise interested. The Irish Film Board has adopted
procedures in relation to the disclosures of interests by Board members and these procedures were adhered to during the year.
In 2009 the following loans were approved in which a Board Member was employed or had an interest:
name Company I
Lesley McKimm newgrange Pictures
Stella Days (Production) 600,000
An Exact Replica of a Figment of My Imagination (Development) 25,000
Julia Here (Development) 15,000
James Morris Treasure Entertainment
My Brothers (Production) 625,000
Tristan Orpen Lynch Subotica Entertainment
La Mula (Production) 50,000
The Last Word (Production) 350,000
Advance Party (Development) 70,000
Six Days on the Road (Development) 35,000
The Swimming Lesson (Development) 10,000
Kirsten Sheridan Blindside Films
Some Rain Must Fall (Development) 10,000
Blindside Films also received a quantified production loan offer of
€600,000 for Back To Jack which has subsequently expired
Johnny Gogan Bandit Films
Black Ice (Development) 10,000
Total 1,800,000
17. Board Approval
The financial statements were approved by the Board on the 24th November 2010.
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