CLOSE INVOICE FINANCE LIMITED
Company Information
- Company Number
- 00935949
- Registered Address
- 10 Crown Place, London, EC2A 4FT
- Status
- Active
- Employee Count
- 209
- Turnover
- £111,008,000
- EBITDA
- £36,284,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 24 July 1968
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data shows a consistent trend of decreasing average time to pay invoices for CLOSE INVOICE FINANCE LIMITED, with the lowest average time being 15 days in 2021-2022. This suggests that the company has been making efforts to pay their invoices more promptly over the years.
Volatility Analysis
The volatility of the data can be seen through the fluctuations in the percentage of invoices paid within 30 days, which ranges from 80% to 90%. However, the overall trend shows an improvement in this percentage over time. Starting from 2019-2020, there is a decrease in the percentage of invoices paid between 31 and 60 days, which suggests that the company has been paying more of their invoices within 30 days.
Summary Analysis
The data shows a positive trend in the time taken for CLOSE INVOICE FINANCE LIMITED to pay their invoices, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. This indicates that the company has been improving their payment processes and paying their invoices more promptly.
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 Feb 2025 - 31 Jul 2025 | 29 Aug 2025 | 11 | 93% | 5% | 2% | 7% |
| 01 Aug 2023 - 31 Jan 2024 | 27 Feb 2024 | 13 | 92% | 5% | 3% | 7% |
| 01 Feb 2023 - 31 Jul 2023 | 29 Aug 2023 | 17 | 85% | 11% | 4% | 14% |
| 01 Aug 2022 - 31 Jan 2023 | 28 Feb 2023 | 16 | 90% | 6% | 4% | 10% |
| 01 Feb 2022 - 31 Jul 2022 | 26 Aug 2022 | 16 | 88% | 7% | 5% | 11% |
| 01 Aug 2021 - 31 Jan 2022 | 02 Mar 2022 | 15 | 88% | 8% | 4% | 11% |
| 01 Feb 2021 - 31 Jul 2021 | 26 Aug 2021 | 15 | 90% | 7% | 3% | 10% |
| 01 Aug 2020 - 31 Jan 2021 | 26 Feb 2021 | 15 | 90% | 6% | 4% | 10% |
| 01 Feb 2020 - 31 Jul 2020 | 28 Aug 2020 | 18 | 86% | 9% | 5% | 14% |
| 01 Aug 2019 - 31 Jan 2020 | 27 Feb 2020 | 19 | 83% | 11% | 6% | 17% |
| 01 Feb 2019 - 31 Jul 2019 | 29 Aug 2019 | 20 | 84% | 10% | 6% | 17% |
| 01 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | 21 | 81% | 13% | 6% | 20% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 22 | 80% | 12% | 8% | 21% |
| 01 Aug 2017 - 31 Jan 2018 | 28 Feb 2018 | 18 | 84% | 11% | 5% | 16% |
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
Close Invoice Finance Limited ('CIFL') agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Group's policy is to pay within 60 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
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
30
Dispute Resolution Process
Close Invoice Finance Limited and the supplier will first attempt to resolve any dispute by referring it for formal discussion between Close Invoice Finance Limited authorised representative and the supplier (both acting reasonably and in good faith). If Close Invoice Finance Limited authorised representative and the supplier are for any reason unable to resolve the dispute within 14 days of the date of its referral to them, the dispute may be referred to court by either Close Invoice Finance Limited or the supplier.
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.
❌
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.
❌
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.
❌
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
Close Invoice Finance Limited is a UK-based company that provides invoice finance solutions to businesses of all sizes. Their aim is to help businesses improve their cash flow by providing them with fast and flexible funding options.
As part of their sustainability program, Close Invoice Finance Limited is committed to reducing their environmental impact by implementing eco-friendly practices in their operations. They also support local communities through various initiatives and charities.
Their main product is invoice finance, which allows businesses to access funds against their unpaid invoices, providing them with immediate cash flow. This service helps businesses to manage their working capital and grow their businesses without having to wait for their customers to pay.
The key people at Close Invoice Finance Limited include the managing director, Mark Byrne, who has over 20 years of experience in the invoice finance industry. The business development team is led by Mark Hogg, who has over 25 years of experience in the financial sector.
Their website address is www.closeinvoice.co.uk and their registered office address is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT. They can also be contacted via phone at 0161 832 3900 or email at info@closeinvoice.co.uk.
In summary, Close Invoice Finance Limited is a sustainable company that provides invoice finance solutions to businesses, helping them improve their cash flow and grow. Their commitment to sustainability, experienced team, and customer-centric approach make them a reliable choice for businesses in need of funding.
