# Bitt Film Company Limited (08854316)

> Why UK company 08854316 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08854316

- **Status:** Administration ended
- **Administration began:** 2014-09-26
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 2014-01-21
- **Location:** London

## Why it went into administration

- Creditor pressure / legal action
- Cash flow / liquidity pressure

## From the administrators' statement

The Company was incorporated on 21 January 2014 as a special purpose vehicle for the purposes of developing, producing, and distributing a film set in East London, based on the novel entitled Bone tn the Throat (“the Film”) Based on the production budget, a financing plan which met the $2 9m strike price of the budget was agreed with four potential sources of funding

Although the funding had not yet been formalised, and with the agreement of the four funding parties, the Film started pre-production in February 2014 and at this stage was funded entirely by loans from Dignity Film Finance Limited (“Dignity”), one of the four funding parties

Shortly before principal photography was due to start one of the funding commitments failed to materialise As a result, Upload Finance Limited (‘UFL”), one of the other sources of finance, agreed that their Investment would be via a bridge financing arrangement whilst the Company sourced further funding, and thus allowing filming to continue in the knowledge that funds would be available to pay the cast and crew. Furthermore UFL agreed to finance the second two weeks of principal photography and Dignity agreed to finance the first two weeks

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08854316/filing-history/MzExMTkzMTA5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08854316

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.