About Laki Kane
Laki Kane is London’s premier ‘Tropical Escape’ cocktail bar and Thai kitchen and is fast becoming the number one experience venue in the capital. Trading for a little over three years this business is self-owned, and operates from a single site in Islington. Created by Co-owners Steve Kyprianou, Sam Robson and Georgi Radev, who worked with the Mahiki chain of restaurants, the vision was to develop a modern tropical escape, putting a spin on the traditional tiki bar, where customers can experience a carnival atmosphere in an amazing theatrical setting. Laki Kane delivers exciting experiences, daily and weekly events, weekend brunches, as well as catering for private parties.
To discuss how we can help your business, please contact us here.
The Needs of the Business
Having established a solid business model at its first site in Islington, Laki Kane now has the appetite to increase the footprint of the current location, develop the group enabling the business and the brand to expand, whilst creating an effective road map that will enable the business to springboard to the next level by developing a chain of new sites. In order to achieve this, the directors of Laki Kane agreed that they needed to relax the burden of day-to-day involvement in the financial management of the business, whilst still needing regular professional financial management and reporting.
“To enable the business to develop from a single site into a chain, we needed to put our entire accounting and financial reporting into the hands of an established organisation that specialises in our sector. Paperchase were highly recommended and had exactly the credentials we were seeking, in addition to having a true understanding of hospitality, and how we as a business operate, which was particularly important to us. Now the directors are free to focus on the development of the group, and Paperchase provide us with regular weekly and monthly reporting, as well as much needed expert advice on the how to develop the business when developing new sites.”
– Sam Robson, Director, Laki Kane
The restaurant accounting support we are providing includes:
Bookkeeping – posting and storing scanned invoices, bank reconciliation, quarterly VAT workings and payment.
Sales & Debtors – extracting sales data from EPoS, sales reconciliation, debtor management, reconcile sales with Cashup and Bank.
Payroll – payroll compliance and advising on and facilitating the Tronc process
Expenses – posting petty cash via Cashup and paying personal claims after approval.
Accounts Payable – reconciling approved invoiced with supplier statements, preparing suggested weekly/monthly payment list, facilitating payment via secure BACS facility, and sending remittance advice to suppliers.
Reports – providing weekly KPI report, monthly accounts and balance sheet, expense, and balance sheet schedules, whilst assisting with Budgets.
Online Tools – providing access to ‘Cash Up Online’, online invoice approval, online payment approval, and online access to supplier/nominal ledger.
Author details
Search
Similar Case Studies
