Judi Dench is expected to star in Bright Young Things, an adaptation of Evelyn Waugh's novel Vile Bodies that marks UK actor Stephen Fry's directing debut.

The story about the fashionable 'it' crowd in 1930s London could mark the Academy Award winning actresses' next production, depending on how financing comes together. Revolution Films, the UK production company headed by producer Andrew Eaton and director Michael Winterbottom, is now in pre-pre-production.

Satirising the social whirl of a doomed class, the story revolves around Adam Fenwick-Symes, a destitute young writer in love with Nina Blount, daughter of an eccentric aristocrat. Fry has adapted the script from Waugh's novel.

Dench, currently up for the best actress Oscar for her role in Iris, won the best supporting actress Oscar for Shakespeare In Love and was nominated for Mrs Brown and Chocolat. Fry recently hosted her BAFTA tribute.

Revolution, which has a first-look deal with United Artists, recently produced Winterbottom's 24 Hour Party People but has launched a drive to work on more productions from third-party directors. Other recent credits include Heartlands, which Damien O'Donnell directed.

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