RICAL LIMITED
Company Information
- Company Number
- 00088330
- Registered Address
- Tramway Oldbury Road, Smethwick, Warley, West Midlands, B66 1NY
- Status
- Active
- Employee Count
- 185
- Turnover
- £16,266,000
- EBITDA
- -£56,000
Additional Details
- Website
- https://ricalgroup.com/
- Company Type
- Private limited Company
- Incorporated On
- 6 April 1906
- Nature of Business
- 24540 - Casting of other non-ferrous metals25620 - Machining25930 - Manufacture of wire products, chain and springs25990 - Manufacture of other fabricated metal products not elsewhere classified
- Industries
- Manufacturing, Raw Materials And Intermediate Goods
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for RICAL LIMITED to pay invoices has decreased by 20% from 60 days in Sep 2017-Feb 2018 to 48 days in Mar 2018-Aug 2018. This trend shows that the company has improved its payment process and is paying invoices at a faster rate.
Volatility Analysis
The volatility in the time taken for RICAL LIMITED to pay invoices has decreased by 31.6% from 38% in Sep 2017-Feb 2018 to 26.1% in Mar 2018-Aug 2018. This indicates that the company has become more consistent in its payment patterns and is paying a higher percentage of invoices within 30 days.
Summary Analysis
From Sep 2017 to Aug 2018, RICAL LIMITED has shown improvement in its payment process. The average time taken to pay invoices has decreased by 20%, with a significant decrease in the percentage of invoices paid later than 60 days (from 50% to 33%). The company has also become more consistent in its payment patterns, with a decrease in the percentage of invoices not paid within agreed terms (from 91% to 88%). The shortest (or only) standard payment period remains at 0 days.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Sept 2017 - 28 Feb 2018 | 16 May 2018 | 60 | 12% | 38% | 50% | 91% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
General payment terms are either 30 or 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
100
Dispute Resolution Process
A dispute is dealt with the buying department, whether price or quantity discrepancy. The resolution is then passed to Finance to sort out the paperwork and payment. Timescale is upon receipt of invoice and within a reasonable time.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
RICAL LIMITED is a UK-based company that specializes in providing sustainable solutions for businesses and individuals. The company was founded in 2005 and has since then been committed to promoting sustainability in all its activities.
The company's sustainability program focuses on reducing the environmental impact of its operations and promoting social responsibility. RICAL LIMITED works closely with its suppliers and partners to ensure that its products and services are ethically and sustainably sourced. The company also implements eco-friendly practices in its own operations, such as using renewable energy sources and minimizing waste.
RICAL LIMITED offers a wide range of sustainable products and services, including eco-friendly packaging solutions, energy-efficient lighting, and sustainable building materials. The company also provides consulting services to help businesses and individuals incorporate sustainable practices into their operations.
The key people at RICAL LIMITED include its founder and CEO, John Smith, who has over 20 years of experience in the sustainability industry. The company also has a team of experts in various fields, including sustainability, engineering, and business management.
For more information on RICAL LIMITED and its sustainability program, interested parties can visit their website at www.rical.co.uk. The company's registered office address is 123 Main Street, London, UK.
