Cotswold Sleeps

Luxury holiday rental company Cotswold Sleeps disentangles and regains control of its finances

Cotswold Sleeps was caught in a financial reporting tangle – switching to Panthera helped iron out past problems and reset the company’s finances ready for another year of growth.

Suus Paris owns a booming holiday rentals business in the picturesque Cotswold Water Park, always pulling out all the stops to take care of everything for her homeowners and her guests. She had grown her business successfully but, as it evolved, she was starting to sense a need for more automation in her financial operations, and a greater degree of financial advice.

She moved to Panthera in early 2022 based on a recommendation from a friend. Having grown her own business predominantly through word of mouth, this provided Suus with reassurance in her choice. She said, “My previous accountant had been wonderful while my business was small, but in time Cotswold Sleeps required something more akin to a virtual FD to cover those financial decision making and forecasting skills I needed support with. I needed a step-up in my accountancy service, and Panthera now delivers a quality of service that matches my own standards in business.”

Caught in a financial tangle

Suus knew that Cotswold Sleeps was a healthy business with huge potential. However, another reason for making the switch was a coding issue with her accounting software that began to cause reporting difficulties. This, coupled with a serious mistake by her bank, meant Suus needed an accountant to sort through the financial tangle, establish a proper structure, and bring back full control. 

Caught in a financial tangle

Suus knew that Cotswold Sleeps was a healthy business with huge potential. However, another reason for making the switch was a coding issue with her accounting software that began to cause reporting difficulties. This, coupled with a serious mistake by her bank, meant Suus needed an accountant to sort through the financial tangle, establish a proper structure, and bring back full control. 

Her Panthera account manager, Ali Vermaak, had a huge task on her hands, Suus admitted. “Panthera had a tough job in getting my business accounts looking the way they should, but ran with the challenge and put in an enormous amount of effort, painstakingly re-coding transactions that were causing issues. Panthera unpicked the legacy problem fast, giving me a great starting point to move forwards.”

Through no fault of Suus, the bank’s error along with the reporting issues had given her confidence a significant battering. She rather regretted not making the change sooner, feeling that some of the difficulties could have been avoided. “If only I’d had Panthera’s eyes on my accounts earlier, they’d have spotted the bank’s error and restructured my accounts long before there was a problem. Panthera would have saved me a lot of stress.”

Control and confidence every day

Suus was determined that no issues like this would be allowed in future. From now on, she would have knowledgeable financial eyes on the business.  Panthera effectively stepped into the role of Financial Director, giving her the confidence to refocus on growing the business.

She recalled, “I needed someone who could take on a virtual Financial Director role, and Panthera has just been brilliant. They fulfil a skill I just didn’t have and were therefore the step-up in accountancy I needed to grow. They’ve enabled Cotswold Sleeps to step up to the next level, too.”

Suus knows her own considerable strengths – but also where she needs expert help. She stated: “I like to be hands-on across my business, but I’ll admit that tax isn’t my forte. With Panthera’s support I’m empowered to take care of areas that I didn’t previously know enough about, like coding costs. I can now look after my bookkeeping with confidence.” 

Now, Suus feels completely in control, with added reassurance that help is on hand when she needs it. She told us, “Working with Panthera means I keep a handle on the day-to-day matters. I also know that my account manager Ali is available if I need to code something unusual in my records – for example, when showing how a guest’s deposit was used to replace a TV that had been broken.” Suus now learns continuously from Ali’s expertise and knows that everything  is in order.

Clear, complete, and correct

Quarterly management accounts meetings with Ali at Panthera have enabled Suus to start looking at her business more professionally. She finds the meetings and reports hugely informative: “Panthera pulls all the information together and presents it in a way that’s really digestible. It’s clear, and I can easily see that the business is healthy.”

Suus no longer needs to worry about what she doesn’t know about recording transactions, because Ali shows her all the steps she needs. She stated: “Knowing that everything is recorded correctly has given me such a confidence boost – I know I don’t have to worry about the finances anymore.” 

With the historical difficulties dealt with, and Panthera firmly in her corner, Suus is excited about that future. She told us, “Effectively, I needed a virtual FD that I could have absolute confidence in, and I’ve found that in Panthera. I can trust them to look after everything as I grow my business.”

“Panthera’s input and strong voice of reassurance gave me the boost I needed to look forward to the future of Cotswold Sleeps,” she finished.

Ideals underpin the relationship

Cotswold Sleeps and Panthera share many ideals, and Suus feels that this forms a foundation for an excellent business relationship. As she explained, “I believe that going the extra mile for your clients is the only way to do business. I was delighted to find that that’s exactly how Panthera approaches things, too. Working with an accountant whose values are so well-aligned with my own feels great.”

She also perceives strong similarities in Panthera’s thoroughness, as well as the way that it cares about her success. Suus said, “I triple-check everything before holiday guests arrive. Panthera does the same with my finances. It means I can relax and enjoy the creative part of my business, knowing that they have taken care of everything on the financial side.”

Room to think and breathe

Knowing that Ali always has her eye on tax and accounting is a huge weight off her mind and frees Suus to think at a high level about the business and its future. She told us “Panthera has helped make all my processes slick, giving me time and space to grow Cotswold Sleeps. Before working with Panthera, I’d been so busy trying to keep up with the accounts that I hadn’t had the opportunity to think strategically. I now have breathing space to think about the bigger picture.

Suus can now also take the time she enjoys come up with special touches for her guests in this idyllic Cotswold location. “I can also spend time finding ways to make guests’ visits extra special – like choosing delicious local bread and jams as an arrival gift” she explained.

Investing in the future

Panthera Accounting is helping Suus steer her growth plan for Cotswold Sleeps and keep the business on a profitable footing. Ali looks broadly across the business, always seeking opportunities for cost-efficiency. Suus stated “It’s great to have Panthera on board. Ali challenges me to review the services I pay for rigorously – am I getting the full value, or is there a more cost-efficient way to achieve the same results? Panthera’s broad, conscientious approach is such a pleasant surprise.  I hadn’t foreseen how involved they would be in my business. They have my best interests at heart and raise so many ideas that I haven’t yet thought of.”

The future is looking bright for Cotswold Sleeps. Ali has been able to advise on investments Suus can make to enhance her business assets and mitigate her Corporation Tax liabilities. She concluded, “Ali and the Panthera team have simply taken all the stress away. I know that if something needs to happen, Panthera will make it happen. The business is super-healthy, and I’m excited for the next stage. I trust Panthera implicitly, just as my own clients trust me to look after their beautiful second homes for them.”