Partner Article

CHF Entertainment seeks £2m investment

International entertainment firm, Cosgrove Hall Fitzpatrick (CHF) has announced plans to raise £2m to produce a new children’s cartoon, which will be aired on Channel 5.

Investment will be used to create 52 episodes of “Pip!”, a cartoon about a seafaring dog, and to secure a series of merchandising opportunities.

Sir David Jason, made famous for his role as Del Boy in Only Fools and Horses, will voice the cartoon and has joined the company’s board as non-executive director.

CHF Entertainment, which has previously produced popular cartoons such as “Danger Mouse” and “Count Duckula”, hopes to raise part of the funds from the Enterprise Investment Scheme (EIS).

EIS would be an ideal source of funding for the firm because it attracts 30% relief on investment and is also exempt from capital gains tax.

The Government’s plans to offer tax relief to animation firms in the UK will also benefit CHF Entertainment, which could be up to 25% starting from April 2013.

CHF Pip! owns the entirety of the cartoon’s intellectual property rights including distribution, licensing, merchandising, live shows, publishing and rights to digital content.

Adrian Wilkins, chief executive of CHF Entertainment, said: “To be a part of such a terrific animation series in the early stages is really very exciting and also very unusual.

“We believe Pip! is an incredibly strong concept, which could potentially be as big as Peppa Pig or Bob the Builder.

“There is a huge market out there for merchandising, which is great for investors because they will get a slice of everything that Pip! makes.”

CHF Entertainment’s managing director, Simon Hall, added: “The Government’s decision to offer tax relief will have an incredible impact on our business and will encourage animation businesses to stay in the UK.

“More and more animators have been relocating overseas to countries such as Ireland and Canada, where tax incentives can slash the cost of production.

“A similar approach in the UK will not only make it a much more attractive proposition to potential investors, it will also encourage our production talent to remain in this country.”

This was posted in Bdaily's Members' News section by Miranda Dobson .