'Gravity', a strong awards contender, is followed by other favourites like Steve McQueen's '12 Years a Slave' and David O Russell's 'American Hustle' with each being nominated in ten categories.
Tom Hanks starrer 'Captain Phillips' has nine nominations while his other big screen outing this year as Walt Disney in 'Saving Mr Banks' has five nods.
Michael Douglas starrer Valentino Liberace biopic 'Behind the Candelabra' too has five nominations.
Dench will compete for the best actress gong for her role in Philomena along with 'American Hustle's Amy Adams, Cate Blanchett (Blue Jasmine), Emma Thompson (Saving Mr Banks' and Sandra Bullock (Gravity).
More From This Section
The best actor list is a mix of veterans versus new faces as '12 Years A Slave star Chiwetel Ejiofor will fight it out with veteran Bruce Dern (Nebraska) and Hollywood stars Christian Bale (American Hustle), Leonardo DiCaprio (Wolf of the Wall Street and Tom Hanks (Captain Phillips).
Woody Allen directed 'Blue Jasmine', DiCaprio starrer 'The Great Gatsby', Coen brothers' 'Inside Llewyn Davis' and Alexander Payne's black-and-white movie 'Nebraska' have three nominations each.
'Mandela: Long Walk to Freedom' is also nominated for Outstanding British Film.
Julia Roberts 'August: Osage County' and Oprah Winfrey (The Butler) are pitted against Jennifer Lawrence (American Hustle), Lupita Nyong'o (12 Years A Slave) and Sally Hawkins (Blue Jasmine).
'Iron Man 3', 'Pacific Rim' and 'Star Trek Into Darkness' will compete in the Special Visual Effects category with 'Gravity' and 'The Hobbit'.