THE ROYAL NATIONAL THEATRE
Company Information
- Company Number
- 00749504
- Registered Address
- The Royal National Theatre, Upper Ground, London, SE1 9PX
- Status
- Active
- Employee Count
- 840
- Turnover
- £121,400,000
- EBITDA
- £3,100,000
Additional Details
- Company Type
- Private company limited by guarantee without share capital
- Incorporated On
- 8 February 1963
- Nature of Business
- 90010 - Performing arts90020 - Support activities to performing arts90030 - Artistic creation
- Industries
- Creative, Media And Publishing, Events And Venues
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
THE ROYAL NATIONAL THEATRE processes 68% of payments within 30 days, yet their average payment time extends to 34 days. A notable 32% of payments fall into the 31-60+ day range, indicating a consistent proportion of longer payment cycles.
Volatility Analysis
The high 72% late payment rate signifies low predictability in adhering to initial payment terms, posing a notable operational risk for suppliers. Furthermore, 11% of payments extending beyond 60 days introduces a substantial cash flow uncertainty and potential for extended credit periods.
Summary Analysis
While 68% of payments are within 30 days, the 72% late rate and 11% over 60 days suggest considerable payment risk for suppliers. To mitigate this, suppliers should consider establishing clear, potentially shorter payment terms or requiring partial upfront payments. Careful monitoring of outstanding invoices and a robust collections process will be essential for managing this relationship effectively.
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 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 33 | 74% | 16% | 10% | 60% |
| 02 Apr 2018 - 30 Sept 2018 | 31 Oct 2018 | 34 | 68% | 21% | 11% | 72% |
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
The Royal National Theatre offers standard payment terms of 30 days to suppliers of goods or services unless otherwise stated. We also offer payment terms of immediate payment, 7, 14 and 21 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
As the Royal National Theatre operates a weekly payment cycle, invoices falling due between payment cycles represent 28% of payments classified as “overdue”.
Maximum contractual payment period agreed
30
Dispute Resolution Process
The main point of contact for disputes is the accounts payable team; the dispute is investigated and any additional information required is requested from the supplier. In the event that the accounts payable team are unable to resolve the dispute it will be escalated to the original purchasing department to investigate further. Once a dispute is resolved any outstanding invoices are paid on the next available payment run.
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?
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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
THE ROYAL NATIONAL THEATRE functions as a theatrical organisation, constituted as a private company limited by guarantee without share capital. This company type is typically adopted by non-profit or membership-based bodies, aligning with its name as a national theatre.
The organisation, active under company number 00749504, was incorporated on 8 February 1963. Its registered office is located at The Royal National Theatre, Upper Ground, London, SE1 9PX, situating it within London.
In the UK market, a company of this nature typically specialises in the production and presentation of live theatrical performances. This includes staging a diverse repertoire of plays and providing a cultural venue for the performing arts.
