BusinessCompany NewsAccountants back Reservoir Dogs star’s project

Accountants back Reservoir Dogs star's project

Baker Tilly has today thrown its full support behind a company hoping to finance Hollywood star Michael Madsen's new film project.

Speaking at press briefing at the British Academy of Film and Television, the firm said the project spearheaded by Resevoir Dogs’ Mr Blonde was ‘in sync’.

‘Our accounts department have had a look at the film and the budget looks in sync,’ said Steve McMellon of Baker Tilly.

D. Clark Westerman, the managing director of Red Light Runners plc – also the name of the new movie – said although no projected returns had been forecast, the film would benefit from its distribution in the US, where Madsen has close ties with studio giants Miramax, producers of Reservoir Dogs and Pulp Fiction.

Westerman added ‘every dime and dollar’ that came into the project would be accounted for by Baker Tilly, as he sought to dispel any accounting fears in wake of Enron.

He added: ‘Red Light Runners will be the poster child for the Enterprise Investment Scheme. The other films [made using EIS] had no major stars attached to them. This is a solid project.’

Red Light Runners, which is set to star Madsen as well as Martin Kemp and Sarah Cox, has until 17 July to raise £2m for investors, and £8m in total by 15 August.

EIS-qualifying companies have proved very popular with investors as they guarantee that shares bought in the company can be sold at a later date without having to pay any capital gains tax.

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