Client Profile
Company: Big Cat Films Limited
Industry: Film Production
Background: Big Cat Films is an independent British film production company located in London. They work with prominent British filmmakers and leading global talent on everything from feature films to documentaries.
Challenge:
Big Cat Films Limited faced the common industry challenge of managing cash flow during film production (starting from pre to post-production). They were confident in their reclaim preparation processes and were unaware of the additional value that could be unlocked with Adsum’s unique expertise.
Solution:
Adsum, whose mission is to make sure no business owner needs to wait for a tax refund ever again, played a pivotal role in helping Big Cat Films Limited navigate cash flow challenges. The goal was to provide financial flexibility, stability and security, ensuring a smooth production process for their film “AAINA – The Mirror Never Lies”.
How Adsum Helped
The Specialist for Creative Tax Specialists:
Adsum’s value-add was not just limited to Big Cat’s cash flow. Adsum’s specialists, armed with over 30 years of experience in engaging with HMRC over creative tax credits, were able to provide invaluable insight and recommendations during the preparation of the tax credit.
As Adsum’s specialists delved into the tax credit preparations, their value-add became clear – unearthing nuances that HMRC may flag and opportunities that even Big Cat Films’ experts hadn’t considered. This was a turning point for Big Cat Films, a realisation that even the best can benefit from specialised, targeted expertise.
It was a partnership that began with a focus on financial benefits but evolved into an experience showcasing the depth of Adsum’s expertise and its commitment to client success. Big Cat Films not only benefitted financially but also gained a new perspective on the importance of specialised knowledge in navigating the complexities of tax credits.
Advancing Tax Credits:
Adsum’s expertise in advancing tax credits provided Big Cat Films Limited with immediate access to funds. This enabled them to monetise £229,054 within a week of registration, significantly enhancing their cash flow during film production.
Post Production Advances for Immediate Financial Relief:
On the completion of the first schedule of the film “AINAA,” Adsum assisted Big Cat Films Limited in advancing another £40,000 in VAT which contributed to the smooth continuation of their production activities.
“The ability to quantify the benefits of discounting my future tax credits has undoubtedly made a positive impact on my business’s financial health.”
Professionalism and Personalised Attention:
Adsum’s strategic financial management and tailored solutions significantly bolstered Big Cat Films’ fiscal stability, demonstrating a deep understanding of the company’s unique needs. This client-centric approach has fostered a strong, mutually beneficial partnership, exemplifying effective and efficient collaboration.
“Adsum’s personalised attention and commitment to understanding the unique needs of my business, along with their seamless execution of the discounting process, reflects the high standards of service they have consistently delivered.”
Results
Enhanced Cash Flow:
Adsum’s solutions significantly enhanced Big Cat Films Limited’s financial position during and after film production, ensuring they had the necessary resources for a successful project.
Positive Impact on Financial Health:
The collaboration with Adsum not only alleviated immediate financial burdens but also set Big Cat Films Limited on a path for enhanced future success, bolstering the overall financial well-being of the company.
“Adsum’s support has been instrumental to the success and growth of our Film project and has not only alleviated immediate financial burdens but has also positioned my company for greater success in the future.”
Saved Time:
By utilising Adsum’s tax credit advance service, Big Cat Films Limited saved 34 days in administrative tasks. This efficiency in financial management allowed them to concentrate on their creative projects, while Adsum’s VAT advances eased immediate cash flow concerns, enabling them to confidently navigate the complexities of movie production.
Peace of mind with value-add services:
At Adsum, our dedicated specialists bring a unique skill set to the table, offering valuable services that go beyond the ordinary. One such crucial aspect is our meticulous review of financial returns, akin to the precision of an audit.
For Big Cat Films, this tailored expertise was a game-changer. Our specialists delved deep into their financial records, identifying intricacies that could have posed challenges and uncovering opportunities that had previously gone unnoticed. This careful scrutiny wasn’t just about compliance; it was about enhancing financial strategies and fortifying records to meet the stringent standards set by HMRC.
The impact was twofold. First, it ensured the accuracy and integrity of Big Cat Films’ financial records, fostering trust with regulatory bodies. Second, our specialists acted as strategic partners, offering valuable recommendations that went beyond routine financial reviews.
Adsum’s careful and thorough review of the client-prepared VAT returns made sure everything was accurate and legal, building trust and giving peace of mind. What started as a partnership for financial benefits turned into a clear example of how Adsum’s expertise ensures the success of its clients.
Confidence in Future Collaborations:
Big Cat Films Limited expressed confidence in Adsum as their financial collaborator, planning to partner with Adsum on their next £4.5 million project in early 2024.
“We look forward to furthering our collaboration with Adsum in early 2024 on our next project, budgeted at GBP 4.5 Million, confident in the success of our ongoing, mutually beneficial partnership.”
The success story of Big Cat Films Limited exemplifies how Adsum’s VAT advance services can provide essential financial support to businesses in creative industries. By leveraging Adsum’s VAT advances, Big Cat Films Limited not only managed cash flow challenges effectively but also set the stage for a future of sustained growth and development.
