Leaders Insight - with Lucy Bolton, CFO at Camira

FRS 102 Revised Seminar Brings South Yorkshire Finance Leaders Together

In collaboration with Shorts Chartered Accountants, we recently hosted a seminar for senior finance professionals from across the region.The event brought together a number of Finance Directors, Financial Controllers and senior leaders from across the region for a morning of insight, discussion and networking over breakfast. It was a pleasure to welcome so many familiar faces, alongside new contacts, reflecting the strength and depth of the Yorkshire finance community. The seminar was presented by Howard Freeman, Audit & Accounts Partner, and Andy Ryder, Corporate Finance Partner at Shorts. We are extremely grateful to both speakers for sharing their time and expertise, and for delivering a clear, practical overview of the forthcoming changes to FRS 102, which came into effect on 1 January 2026 and are expected to impact a significant number of UK businesses. The session explored what is changing and why, particularly in relation to lease accounting and revenue recognition, and considered what the updates mean in practice for finance teams and business leaders. The speakers also addressed the new reporting requirements under FRS 102, the potential impact on EBITDA and valuation methodologies, and the key considerations for organisations as they prepare for implementation. Rather than focusing purely on technical detail, the seminar encouraged broader discussion around readiness, communication with stakeholders and the commercial implications of the changes. This led to a highly engaged Q&A session, with attendees sharing perspectives and experiences from their own organisations. At Sharp Consultancy, we are committed to supporting the finance community beyond recruitment alone. Events such as this form part of our ongoing effort to create opportunities for connection, knowledge-sharing and professional development among senior finance professionals. We would like to extend our sincere thanks to Shorts for partnering with us on this event, and in particular to Howard and Andy for delivering such an informative and thought-provoking session. We are also grateful to everyone who attended and contributed to the discussion. We look forward to hosting further events in the coming months and continuing to work closely with our network of finance leaders across the region.If you would like to discuss how these changes may impact your finance team, or if you are considering strengthening your leadership function, please contact us for a confidential conversation.

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The second instalment of the “Leaders Insight” series comes from the CFO at Camira Fabrics and recent winner of the ‘2023 Northern Finance Director Awards’ in the leadership category, Lucy Bolton.

Lucy qualified as a chartered accountant at Leeds based firm Sagars in 2007 moving onto Communisis Plc in 2010 where she worked her way to becoming Divisional Finance Director up until 2018 when she moved to Camira Fabrics to help them with their ambitious growth plan. Camira Fabrics design and manufacture textiles for every space and sector - from commercial and residential to public transport, including bus, coach, and rail.

1.Which of your earlier roles played the biggest part in your career development to becoming a CFO?

Without doubt my role as Group FC at Communisis plc was the most formative role of my career to date. A tough role that required me to have a high technical understanding of the numbers, whilst also being able to tell the story confidently to investors and analysts was an invaluable experience.

2.What is the one thing you know now that you wish you knew as a newly qualified Accountant?

A real appreciation that cash flow is just as (if not more) important than profit! Being able to read and understand the cash flow and working capital cycle of a business will give insight into so much more than the numbers. It will give you the clues as to how sales, commercial arrangements, operations, product and debt arrangements to name just a few, are working for (or against) the business.

3.How important to you was a mentor / mentorship in your career progression?

I think having supportive leaders around you day to day is more important than a mentor as such. A mentor you may only see occasionally but having regular access to knowledgeable people on a daily basis as you go through your career is important. Leaders who care about your development and allow you to ask any question…no question is a stupid question!

4.The role of a CFO has changed over the last decade. What further evolution do you see in the role of the CFO over the next 5 to 10 years?

The obvious answer to this would be that the CFO of the future will need to be well versed and agile with regards to digital solutions. Ensuring that management decisions are back by or driven by rich and relevant data is key to staying ahead of competition. However, I do think that CFOs are now required to think more strategically than perhaps a few years ago and should be expected to personally contribute to the top line growth of the company. A mindset of “how can we best invest to grow?” rather than “where can we save cost?” is a must.

5.Having become a CFO what do you “think of the view from the top” and how does it compare to what you thought it would be like?

I feel really privileged to be in this position and to be able to make decisions that shape the future of my company. I enjoy it! To be honest, the view is exactly as I thought it would be and is what I was striving for on my way to CFO. I think people who naturally think ‘bigger picture’ will always rise to these positions with the right amount of hard work!

6.What technologies will reshape the role of the CFO over the next few years?

I think that the key here is to understand that we wont yet know what these technologies will look like. Change in this area has been exponential and this trend will almost certainly continue. The real advantage will therefore lie with those CFOs who are agile and consistently embrace change. There needs to be a real desire to stay ahead of the game to succeed.

7.What is the one single best piece of advice you would give to an aspiring future finance leader?

Always back yourself and don’t be afraid to step out of your comfort zone to grasp an opportunity. Every role I have ever taken to date has been slightly out of reach on paper, and yet has shaped me into the CFO I wanted to become.

Thank you for reading the second installment of ‘Leaders Insight’, don’t forget to follow us on Linked Inso you don’t miss the next one.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today and see how we can help.

Leaders Insight - with Lucy Bolton, CFO at Camira Fabrics