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Interactive Diagnostic

Stratford-upon-Avon

13 The Courtyard
Timothy's Bridge Road
Stratford-Upon-Avon
Warwickshire CV37 9NP

01789 294484

enquiries@gjassociates.co.uk

London

7-8 Stratford Place
Mayfair
London
W1C 1AY

0207 495 0304

enquiries@gjassociates.co.uk

Established in 2010, CamperKing has grown into the UK’s largest VW campervan converter, turning VW Transporter vans into luxury campervans built for family holidays and adventure. 

CamperKing Vehicle

Overview

CamperKing sought proactive support from GJ Associates to gain real-time financial insights beyond retrospective accounting. We recommended a tailored management accounts pack, empowering their ambitious growth plans with sharper insights for smarter decisions.

Our contributions:

  • Collaborate and assist the in-house bookkeeping team. 
  • Provide access to real-time financial information. 
  • Assist in creating an annual plan (budgets and forecasts). 
  • Facilitate strategic planning for the upcoming fiscal periods. 
  • Act as a sounding board offering support and guidance. 
  • Support with corporation tax, payroll and director’s personal tax. 
  • Aid the auditing process for smooth and comprehensive evaluations. 

Context & Challenge

Background

CamperKing wanted a proactive accounting partnership for a more engaged financial collaboration.

The problem – the why?

Key problems were: 

  • Rapid growth led to cash flow issues and the need for real-time information to manage effectively. 
  • Required back-office support to align key business functions with their expansion. 
  • Sought bank financing to support their growth trajectory. 
  • Embracing a change in management and undergoing restructuring for future growth. 

Project goals

CamperKing key goals were: 

  • Generate better management information. 
  • Forecast and plan effectively to manage cash flow. 
  • Real-time accounts and support to aid recruitment. 
  • Secure bank financing to support and sustain growth initiatives. 
  • Restructure to streamline operations and embrace the change in management. 

Process & Insights

During the ‘getting to know you’ process, the following points were identified: 

  • Due to expansion and a growing team, directors needed better profitability and cash flow insight. 
  • A need for monthly management accounts to track profit, run rates, and sales patterns. 
  • An annual plan was crucial for growth planning, decision-making, and measuring success. 
  • The client aimed to establish Key Performance Indicators (KPIs) for evaluating performance. 
  • Promptly tracking and provisioning for corporate and personal tax liabilities were top priorities. 

Solutions

Our team, led by a director, collaborated closely with the Director of CamperKing to evaluate accountancy solutions to the problems. This resulted in GJ Associates managing a project covering: 

  • Collaborating with the in-house bookkeeping team to offer support. 
  • Creating annual budgets and forecasts, providing a strategic plan for the upcoming fiscal periods. 
  • Delivering monthly management account packs for informed decision-making. 
  • Holding regular meetings with management to analyse accounts and make strategic decisions. 
  • Functioning as an outsourced Financial Director, providing guidance and acting as a sounding board. 
  • Supplying financial reports to the bank and engaging with management to assess performance and set expectations. 
  • Managing financial aspects such as accounts, corporation tax, payroll, and directors’ personal tax. 
  • Offering advice on restructuring for an efficient group structure. 
  • Aid the auditing process for smooth and comprehensive evaluations. 

CamperKing results

Partnering with CamperKing for over a decade, our role has been pivotal in their rapid growth. Providing crucial management accounts, we’ve empowered their decision-making with timely insights, significantly accelerating their recent expansion.  

As a trusted sounding board, we’ve offered vital guidance, ensuring sound financial strategies aligned with their ambitious growth plans. Our collaborative efforts have been instrumental in driving CamperKing’s success story. 

“I attribute a significant part of our success to GJ Associates; their financial expertise has been pivotal in our growth.”
Spencer Grey, CamperKing

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      Grenfell James Technology Adoption Index

      How does your business perform against others adopting financial tech? Find out with our interactive diagnostic:

      1.

      How does your business receive invoices?

      A)

      Invoices are mainly received in paper form

      B)

      Invoices are mainly received by email

      C)

      Invoices are emailed then automatically forwarded to a designated mailbox

      2.

      How are purchase invoices processed?

      A)

      Invoices are entered manually

      B)

      Invoices are attached to manually raised invoices

      C)

      Automated software (e.g. ReceiptBank, 1Tap, HubDoc etc) collates invoices

      3.

      How are accounts processed?

      A)

      Using Excel/paper-based

      B)

      Using Computer-based, offline software

      C)

      Using cloud-based accountancy software

      4.

      How often is business data revised?

      A)

      Data is updated annually

      B)

      Data is updated quarterly

      C)

      Data is updated monthly or more often

      5.

      How is banking updated for your business?

      A)

      Banking is updated manually

      B)

      Banking is updated by imports

      C)

      Banking is updated via a live feed

      6.

      How are bank payments made?

      A)

      Bank payments are manual

      B)

      Bank payments are made using bulk imports

      C)

      Bank payments are made directly via accounting software

      7.

      How are bank receipts reconciled?

      A)

      Receipts are chased and reconciled manually

      B)

      Receipts are chased and reconciled automatically

      C)

      A third-party platform is used to chase debts and collect fees

      8.

      How often are management reports produced?

      A)

      No reports are provided

      B)

      Reports are provided but often too late to be valuable

      C)

      Reports are automated with real-time information

      Score 8-12:

      Curious Exploration

      Your financial technology phase is Curious Exploration

      % of respondent businesses are in this phase too.

      Switching accountancy systems may seem like an upheaval, but can be much more straightforward than most businesses imagine. From talking to our clients, they have found moving from paper invoicing and desktop-based accounting software to the cloud and apps quickly makes the transition process a worthwhile investment of time. Digital accounting solutions bring in streamlined processes, up-to-date business data and greater confidence in the accuracy of information when making financial decisions.

      Grenfell James works with your team to fully assess the needs of your business and minimise the impact of any transitions for solutions we recommend.

      Find out more about App Advisory

      More

      Score 13-19:

      Measured Discovery

      Your financial technology phase is Measured Discovery

      % of respondent businesses are in this phase too.

      Once cloud accountancy software is in place, there’s still plenty of scope to improve your accountancy processes and make sure your business is maximising the benefits of adopting a digital accounting solution. Grenfell James assesses each business to understand how any implemented solutions are being used, identify areas for improvement and the needs of the business overall to support your business goals and achieve success.

      Our team of experts can discuss a range of time-saving automation and get different apps and cloud-based solutions talking to create and manage a digital accountancy eco-system to help your business grow.

      Find out more about App Advisory

      More

      Score 20-24:

      Bold Innovation

      Your financial technology phase is Bold Innovation

      % of respondent businesses are in this phase too.

      You know the benefits of accounting technology and the impact it can have on your business goals. If you want to take it a step further, our team can conduct a systematic review of your processes, apps and business goals to ensure your digital accountancy ecosystem is keeping pace with the changing needs of a growing business.