Visit our special Oscars section for the latest news on the 2007 Academy Awards

It was a night when the Brits were overlooked in favour of established Hollywood stars and big budget movie-making. But for once that was a good thing. It was Saturday night in Los Angeles, and not the Oscars ceremony but the Golden Raspberry Awards, the Razzies, which each year recognise film-making at its worst.

Sharon Stone received by far the most recognition. While Helen Mirren was doubtless practising her Oscar acceptance speech, Stone was being named Worst Actress for her role in Basic Instinct 2.

The sequel cost $70 million (£37 million), took six years to make, and starred the former Liverpool striker Stan Collymore in its opening scenes. On Saturday it was named Worst Picture, Worst Screenplay and Worst Sequel.

John Wilson, founder of the Razzies, called Stone’s performance cartoon-like. “When a $70 million picture can’t make $6 million, that’s pretty lame,” he said.

A crowd of undistinguished but excitable film enthusiasts gathered at the Ivar Theatre for the 27th Annual Golden Raspberry Awards, the night before the Oscars ceremony. Organisers had trumpeted a particularly strong field of dire films competing for a Razzie — a gold spray-painted trophy in the shape of a raspberry, which is thought to be worth about $4.97.

Expectations in particular had centred on Little Man, a comedy in which the lead actor Marlan Wayans’ head was superimposed on the body of a dwarf, to play a diminutive jewellery thief.

Critics were disturbed by the result, and not in a favourable way. Wayans starred alongside his brother Shawn Wayans, a cinematic pairing that won them Worst Screen Couple and joint Worst Actor Razzies.

There were also claims that the plot of the film was, in fact, a rip-off of a Bugs Bunny film from 1954 — a claim recognised on Saturday when it won the Worst Rip-Off award.

The other big winner of the evening was M. Night Shyamalan’s Lady in the Water. Once the toast of Hollywood for The Sixth Sense and Signs, Shyamalan based Lady in the Water on a bedtime story he made up for his children. A mythical water nymph appears in the swimming pool of an apartment complex. Residents enlist the help of a young writer whose book will one day bring salvation to humanity, a role Shyamalan awarded to himself. For this he won Worst Supporting Actor, as well as Worst Director.

However, the night belonged to Sharon Stone. Fifteen years after the original movie that made her name, clips of her film — dubbed Basically It Stinks Too — were screened before a horrified audience. It appeared to show the dominance of Hollywood studios at the Razzies: however, some saw in the victories of Basic Instinct 2 a recognition for British film-making. It was directed by Michael Caton-Jones, a Briton, and featured British actors such as David Morrissey, David Thewlis, Charlotte Rampling and Hugh Darcy.

Winners/losers

Worst Picture

Basic Instinct 2

Worst Actor

Marlon Wayans and Shawn Wayans, for Little Man

Worst Actress

Sharon Stone, for Basic Instinct 2

Worst Supporting Actor

M. Night Shyamalan, for Lady in the Water

Worst Supporting Actress

Carmen Electra, for Date Movie and Scary Movie 4

Worst Screen Couple

Marlon Wayans and Shawn Wayans, for Little Man

Worst Prequel or Sequel

Basic Instinct 2

Worst Director

M. Night Shyamalan

Worst Screenplay

Basic Instinct 2

Worst Remake or Rip-off

Little Man

Worst Excuse For Family Entertainment

RV (starring Robin Williams)

Source: Golden Raspberry Award Foundation

Times Recommends

• Fish and chip shops ‘selling cobbler as cod’
• T in the Park festival at Kinross
• How to get Madonna’s Thighs