AD Films Ltd (12963907): administration
- Status
- In administration
- Administration began
- 2024-11-12
- Administrators
- Martin Charles Armstrong, Andrew Richard Bailey
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2020-10-21
- Location
- Luton
- Industry
- 59111 Motion picture production activities
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
The Company is part of the Group. Specctrum Limited is the parent company of the Group, with the remaining group companies being wholly owned subsidiaries. Each subsidiary was formed as an SPV to produce a television series or movie.
The Company’s business was that of the production of a movie provisionally titled Mission Raniganj (“the Project”), which was filmed in the UK, Ladakh and Mumbai. The movie is unreleased at the date of these proposals.
It is understood that production was initially financed by Pooja Entertainment UK Limited (“Pooja”), a company of which Mr Vineet Malhotra (the Director of the Company) was also a Director. The terms of this agreement are such that Pooja agreed to loan the Company a percentage of the budget, to be repaid out of the proceeds of a UK film tax credit claim due to the Company, together with a 15% uplift.
Administrators' statement of proposals (2025-01-10) · Companies House register