Our involvement with the Deer Park began in 2011. At the time, the company was turning over £750k and making significant losses. The board approached JRP for the accurate and timely management information that would enable them to turn the business around. The services we provided to the Deer Park include:
- Cloud based accounting software that gave real-time information
- Monthly management accounts
- Detailed monthly reports and forecasts
- Feasibility proposals
- Project accounting
We began by implementing a computerised accounting system to replace their manual ledgers. JRP then introduced a package of management accounts and reports to help the board make better-informed business decisions.
Once these accounts systems were in place we were able to have a clearer picture of the Deer Park’s profit and loss and so were able to systematically challenge each business expenditure with a view to finding lower cost alternatives. Through our expertise, and by utilising our network of tried and trusted suppliers, we delivered significant savings to the Deer Park’s operational costs. For example, in year 1 we made a 45% reduction to their insurance premium and a 50% reduction in credit card processing fees. Since 2011 we have continued to monitor expenditure and advise on suppliers, this close relationship has allowed the Deer Park to successfully keep operating expenditure under control.
The Deer Park are now turning over in excess of £2M, are in profit and by understanding their accounts the board had the confidence to make significant investments in the business each year since 2016.
Mark Godfrey. Managing Director, The Deer Park Hotel Ltd said:
“Having accurate and timely accounts has been crucial for us to secure the relevant investment in Deer Park. Jon and his team present meaningful numbers so we can quickly see what’s working and what’s not! Through their analysis it’s clear that they understand the hospitality industry, adding real value to our business”
What can we do for you?
Want to take control of your business finances? Call us on 01823 711007 or email Jon@jrpaccountancy.com for a free no obligations consultation today