Established in 1996, Chase Commercial Ltd is a commercial property development business based in Evesham. Initially part of a larger property group, they now focus solely on commercial property.

They have trusted Grenfell James (GJ) with their accounting needs for over a decade, and we are thrilled with what we have achieved together during this time.

Overview

Partnering with Chase Commercial for over a decade, GJ has provided critical financial support, enabling their growth and stability. Through detailed financial reporting and proactive cash flow management, we have helped Chase Commercial navigate the complexities of the property sector, ensuring their continued success.

Context & Challenge

Key Issues:

• Irregular cash flow due to the nature of property development, with capital tied up in projects.
• • Need for a detailed and comprehensive financial reporting system.

Project goals

• 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

When we first began working with Chase Commercial, we identified the need to overhaul their financial systems to deliver the clarity and precision required to support their operations. Their previous processes lacked the depth and reliability necessary for a business in the property sector. By carefully evaluating their existing workflows, we pinpointed opportunities for improvement, including the implementation of Xero and the design of a management accounts pack tailored to their needs. Regular communication and attendance at quarterly board meetings allowed us to ensure alignment with their goals and provide strategic insights as their trusted financial partner.

Solutions

• Updated Accounting Software: Implemented Xero to provide a real-time, accurate financial overview.
• Invoice Processes: Established systems for invoice approval and payments.
• Management Account Pack: Designed and created a comprehensive quarterly management account pack, including profit and loss statements, balance sheets, and cash flow projections.
• Board Meeting Attendance: Regular participation in quarterly board meetings to present financial figures and provide strategic insights.
• Daily Bookkeeping: Maintained up-to-date financial records for immediate access to financial information.

Chase Commercial results

• Accurate Cash Flow Forecasting: Provided Chase Commercial with reliable cash flow projections, crucial for managing their financial operations effectively.
• Enhanced Financial Reporting: The new management account pack provided detailed financial insights, enabling better decision-making.
• Client Satisfaction: Chase Commercial’s directors expressed their satisfaction with the improved financial reporting and the ongoing support from the GJ team.

Qualitative Benefits

Working with Grenfell James has allowed Chase Commercial to operate with greater confidence and efficiency. By maintaining up-to-date financial records and offering expert insights, we have become a reliable extension of their team. The streamlined processes for invoice approvals and payments have not only improved workflows but also reduced administrative burdens. Additionally, our ability to deliver real-time financial information has provided the directors with the reassurance that they can make informed decisions quickly and effectively, knowing their financial data is accurate and accessible. This reliable partnership has enabled them to focus on running and growing their business without the stress of managing complex financial systems in-house.

Lessons Learned

The key to a successful partnership lies in building strong, trusted relationships. By understanding the client’s needs and providing clear, jargon-free financial insights, GJ has become an integral part of Chase Commercial’s operations.

This is a testament to how we work with our clients and aim to become an accounting partner; we are thrilled to report that this relationship spanning over 10 years is still as strong as ever. To be able to operate alongside the board of directors and fully integrate with their team is an honour and a role we take very seriously. It’s just another way we choose to partner with our clients.

Conclusion

Partnering with Chase Commercial for over a decade, GJ has provided critical financial support, enabling their growth and stability. Through detailed financial reporting and proactive cash flow management, we have helped Chase Commercial navigate the complexities of the property sector, ensuring their continued success.

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. 

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.