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

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CHAIRS
13. Capital Reserve
notes 2010 2009
I I
Balance at 01/01/10 1,500,874 1,859,291
Investment in Films 3 (181,826 ) (283,767 )
Movement in Fixed Asset Funding (58,031 ) (74,650 )
Balance at 31/12/10 1,261,017 1,500,874
The movement in Fixed Asset funding is comprised as follows:
Income allocated for Capital purposes 28,817 21,529
Amortisation 86,848 (96,179 )
Total (58,031 ) (74,650 )
14. Commitments
Feature Documentary Animation Distribution
Production* Production Production Loans Schemes Total
Production Loans I I I I I I
Commitments @ 01/01/10 1,351,546 725,471 251,800 74,270 274,265 2,677,352
Commitments in 2010 9,091,588 1,344,000 1,065,000 861,649 719,000 13,081,237
Commitments expired 2010 - (15,000 ) - - (34,078 ) (49,078 )
Total Commitments 10,443,134 2,054,471 1,316,800 935,919 959,187 15,709,511
Payments in 2010 (9,149,477 ) (1,518,496 ) (1,194,400 ) (784,535 ) (738,892 ) (13,385,800 )
Commitments at 31/12/10 1,293,657 535,975 122,400 151,384 220,295 2,323,711
* Included in both the commitment and payment figure for Feature Production is an amount of €162,011 in respect of project related expenses and production
legal costs.
Animation Feature
Development Development Industry Total
Development Loans I I I I
Commitments @ 01/01/10 60,001 510,998 - 570,999
Commitments in 2010 215,000 1,374,700 100,000 1,689,700
Commitments expired 2010 - - - -
Total Commitments 275,001 1,885,698 100,000 2,260,699
Payments in 2010 (211,000 ) (1,394,500 ) (100,000 ) (1,705,500 )
Commitments at 31/12/10 64,001 491,198 - 555,199
15. Provisional Offers of Assistance to Film Projects
In addition to the contracted commitments outstanding at year-end of €2,878,910 disclosed in Note 14 an additional €5,157,300 in
respect of provisional offers of assistance was outstanding. The major portion of such commitments, €4,045,000 is in respect of feature
productions where offers are subject to certain terms and conditions which include the procurement of finance. They remain valid for a
period of up to six 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 eleven feature productions at the year end.
THE PIPE
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 2010 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) 845,000
Stella Days (Regional Support) 120,000
Stella Days (Development) 25,000
Call Girl (Production) 150,000
Happy Ever Afters (P&A) 37,500
An Exact Replica of a Figment of My Imagination (Development) 15,000
Julia Here (Development) 27,000
James Morris Treasure Entertainment
30 Eggs (Development) 15,000
Simple Simon (Development) 22,500
A Month in the Country (Development) 28,000
Tristan Orpen Lynch Subotica Entertainment
Flowers of Desire (Production) 300,000
A Stranger in a Strange Land (Documentary Promo) 10,000
Gold (Development) 10,500
unless (Development) 15,000
War Dog (Development) 50,000
La Mula (Development) 10,000
Subotica also received provisional offers of assistance in respect of Gold
and A Stranger in a Strange Land
Kirsten Sheridan warehouse Pictures
Doll House (Development) 15,000
Doll House (Production) 365,000
CDS
The Rafters (Production) 600,000
The Rafters (Regional Support) 120,000
The Factory (Industry Development) 100,000
Johnny Gogan Bandit Films
The Straits (Production) 495,000
Black Ice (Development) 20,000
The Wet Senor (Development) 5,000
Cinema northwest
Swansong (Distribution) 17,642
Total 3,418,142
17. Board Approval
The financial statements were approved by the Board on the 28th November 2011.
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