JACK RICHARDS SON LIMITED
Company Details
Registration Number
01041518
Registered Address
2 Garrood Drive Industrial Estate Fakenham Norfolk NR21 8NN
Company Status
Active
Employee Count
744
Turnover
£81,430,000
EBITDA
£17,456,000
Additional Information
Website
www.jackrichards.co.uk/Company Type
Private limited Company
Incorporated on
8 February 1972
Nature of Business (SIC)
49410 - Freight transport by road
Industries
Freight and haulage, Warehouses (bonded and non-bonded)
Region
East of EnglandCompany Location
Financial Overview
£13,257,635
£26,843,010
Last Reporting Period
Filed
25 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
54 days
Payment Periods
Shortest
7 days
Longest
120 days
Max Contractual
120 days
Payment Timeline
Not Paid Within Terms
84%
Payment Features
Payment Time Trends
Payment Distribution Trends
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 Jul 2023 - 31 Dec 2023 | 25 Jan 2024 | 54 | 8% | 62% | 30% | 84% |
| 02 Jan 2023 - 01 Jul 2023 | 26 Jul 2023 | 52 | 10% | 64% | 25% | 83% |
| 03 Jul 2022 - 01 Jan 2023 | 16 Jan 2023 | 53 | 10% | 63% | 27% | 72% |
| 03 Jan 2022 - 02 Jul 2022 | 26 Sep 2022 | 55 | 12% | 58% | 31% | 85% |
| 04 Jul 2021 - 02 Jan 2022 | 19 Jan 2022 | 54 | 8% | 62% | 30% | 77% |
| 04 Jan 2021 - 03 Jul 2021 | 08 Jul 2021 | 53 | 11% | 59% | 30% | 78% |
| 06 Jul 2020 - 03 Jan 2021 | 12 Jan 2021 | 54 | 13% | 57% | 30% | 73% |
| 06 Jan 2020 - 05 Jul 2020 | 31 Jul 2020 | 60 | 9% | 54% | 37% | 74% |
| 27 May 2019 - 05 Jan 2020 | 28 Jan 2020 | 61 | 12% | 44% | 44% | 82% |
Company Summary
JACK RICHARDS & SON LIMITED is a leading logistics and transportation company based in Fakenham, Norfolk, United Kingdom
Founded in 1956, the company has been providing high-quality services to its customers for over 65 years
The company offers a wide range of logistics solutions including road transport, warehousing, and distribution services
They cater to various industries such as retail, manufacturing, food and beverages, and construction
With a fleet of over 280 vehicles and a team of skilled professionals, JACK RICHARDS & SON LIMITED is committed to delivering efficient and reliable transportation services
As a responsible and sustainable company, JACK RICHARDS & SON LIMITED has implemented various initiatives to reduce their environmental impact
They have invested in modern and fuel-efficient vehicles, installed solar panels in their warehouses, and implemented recycling programs
They also prioritize the use of eco-friendly packaging materials and promote the use of electric and hybrid vehicles
The company's commitment to sustainability is evident through their ISO 14001 certification, which recognizes their efforts in minimizing their carbon footprint
They also support various local community projects and charities, demonstrating their dedication to social responsibility
JACK RICHARDS & SON LIMITED is led by a team of experienced professionals, including the Managing Director, Jack Richards, who has been with the company for over 50 years
The company has a strong emphasis on customer satisfaction and prides itself on its excellent customer service
For more information on their services or to get in touch with the company, you can visit their website at www.jackrichards.co.uk
The registered office address for JACK RICHARDS & SON LIMITED is Brick Kiln Lane, Fakenham, Norfolk, NR21 8NN, United Kingdom
Company Review
Trend Analysis
The trend for JACK RICHARDS & SON LIMITED shows a consistent decrease in the average time taken to pay invoices over the past three periods. There was a decrease of 1 day in the average time to pay between the first and second period, and a further decrease of 6 days between the second and third period. This trend indicates that the company is making efforts to improve their payment processes and pay suppliers in a timely manner.
Volatility Analysis
The volatility for JACK RICHARDS & SON LIMITED is relatively low, as there are no major fluctuations in the data. The percentage of invoices paid within 30 days has remained fairly consistent, ranging from 8-13%, while the percentage of invoices paid between 31-60 days has ranged from 44-64%. The most significant change can be seen in the percentage of invoices paid later than 60 days, which has decreased from 44% in the first period to 25% in the last period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Subcontractor standard terms are 60 Days end of month from date of invoice, all other invoices standard terms are 30 days end of month from date of invoice. These standard terms apply unless otherwise agreed with the Finance Director.
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
120
Dispute Resolution Process
The supplier will be contacted by email or phone to inform them of the dispute. If the dispute is not resolved then the query will be passed onto the necessary department in order to come to a solution.
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?
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