Wiper and True is an award-winning, independent brewery based in the heart of Bristol.  Established in 2012, the company came alive with their lust for beer and brewing.  The business has grown over 9 years and has developed a reputation for:
  • Extraordinary, refined and consistently high-quality beers
  • An enthusiastic and loyal following
  • Being an established business in a flourishing part of the drinks sector
In 2020-2021, despite the pandemic and being closely linked to the hospitality sector, Wiper and True continued to excel in their market and achieved a turnover of £1.5 million. They produce 500,000 litres of beer per year, which is roughly 880,000 pints. Find out more at https://wiperandtrue.com/

Case Study Overview

The Project

In preparation for an expansion project to a new, much larger site, Wiper and True were looking to develop their accountancy system, modernising paper-based processes and utilising the ever-changing technology available. This centered around more in-depth, detailed record-keeping, with process automation, to ensure that processes could keep pace with the expansion project. Additionally, there was a desire to refine the monthly management reporting structure, along with a greater focus on cash flow forecasting to help guide the business through the expansion and pandemic.

The Review

Sam Thomas and Tom Taylor of Purple Lime met with Michael Wiper, one of the founders, and Myles Arnott, the FD, via Zoom during the pandemic to discuss existing operational and financial processes and controls, focusing on data input, processing, and reporting. It was established that various processes were overly time-consuming and didn’t provide the Board and investors with the information they needed. With the desire to have more visibility of, and greater control over, the short-term cash requirements of the business the discussion focused mainly on how this could be achieved at an appropriate frequency.

The Solution

The outcome of the meeting was that Purple Lime would refine the existing cash flow reporting model that would look five weeks into the future. The model would include both operating and non-operating elements to give a detailed breakdown of the cash position of the business, giving senior management a clearer insight into cash movements. A weekly cash flow meeting was put in place for a Friday lunchtime, coinciding with the weekly supplier payment run, to talk through the events of the week and factor in upcoming committed costs. Various month-end processes were also implemented to refine and expedite the management information being supplied to the Board.

The Result

The cash flow meeting was a great success and has continued since its introduction. The model provided senior management with up-to-date financial data including bank balances, detail on debtors and creditors and the position with HMRC, as well as detail on when expected project costs were due to be paid out. This has meant a proactive rather than reactive approach could be taken to credit control and utilising investor funds. By implementing a strict month-end reporting timetable with defined responsibilities we have together been able to manage the expectations of all stakeholders through clear and consistent information.

Michael Wiper says: Purple Lime have been exceptional from day one, navigating a complex backlog of work and then building a rigorous set of weekly practices and reports that give us control of our finance and valued insights. Not only that, they are absolutely lovely people to work with and I couldn’t recommend them more.