Score of 90.3/100 qualifies for PaymentCheck Certification
| 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 Jan 2025 - 30 Jun 2025 | 31 Jul 2025 | 19 | 88% | 11% | 1% | 16% |
| 01 Jul 2024 - 31 Dec 2024 | 29 Jan 2025 | 17 | 95% | 4% | 1% | 9% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 18 | 99% | 1% | 0% | 12% |
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 15 | 97% | 3% | 0% | 16% |
| 01 Jul 2022 - 31 Dec 2022 | 24 Jan 2023 | 14 | 96% | 3% | 1% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 12 Jan 2022 | 19 | 92% | 6% | 2% | 17% |
| 01 Jan 2021 - 30 Jun 2021 | 07 Jul 2021 | 20 | 90% | 9% | 1% | 15% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2021 | 22 | 88% | 9% | 3% | 20% |
| 01 Jul 2019 - 31 Dec 2019 | 03 Feb 2020 | 18 | 89% | 10% | 1% | 21% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 14 | 92% | 7% | 1% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is VEL's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settles trade payables on 30 day terms however variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our accounts payable team, it would then escalate in the first instance to the relevant Head of Department to seek a resolution.
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
VIRGIN ENTERPRISES LIMITED is a multinational corporation founded by Sir Richard Branson in 1970. The company is headquartered in London, England and is known for its diverse range of products and services, including travel, entertainment, telecommunications, and healthcare.
Sustainability is a key focus for VIRGIN ENTERPRISES LIMITED, with the company's mission being to "create positive change in the world." They have implemented various initiatives to reduce their environmental impact, such as using renewable energy sources and promoting sustainable transportation options. They also have a strong commitment to social responsibility, supporting various charities and community projects.
VIRGIN ENTERPRISES LIMITED offers a wide range of products and services under its various subsidiaries, including Virgin Atlantic Airways, Virgin Mobile, Virgin Hotels, and Virgin Galactic. They also have a strong presence in the entertainment industry through Virgin Records and Virgin Media.
The key people at VIRGIN ENTERPRISES LIMITED include founder and chairman Sir Richard Branson, CEO Josh Bayliss, and COO Amy Stirling. They are known for their innovative and entrepreneurial approach to business.
In terms of contact information, VIRGIN ENTERPRISES LIMITED can be reached through their website, www.virgin.com, where customers can access information about their products and services, as well as their sustainability efforts. The registered office address for the company is 120 Campden Hill Road, London, W8 7AR, United Kingdom.
In summary, VIRGIN ENTERPRISES LIMITED is a multinational corporation with a strong focus on sustainability and social responsibility. They offer a diverse range of products and services and are led by a team of innovative and entrepreneurial individuals. Customers can access information about the company and its offerings through their website or by contacting their registered office in London.