VIRGIN ENTERPRISES LIMITED
Company Information
- Company Number
- 01073929
- Registered Address
- 66 Porchester Road, London, United Kingdom, W2 6ET
- Status
- Active
- Employee Count
- 30.0
- Turnover
- 78525000.0
- EBITDA
- 58111000.0
Additional Details
- Website
- https://virgin.com
- Company Type
- Private limited Company
- Incorporated On
- 27 September 1972
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- 0
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
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 | 31 Jan 2024 | 15 | 97% | 3% | 0% | 16% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 14 | 95% | 5% | 0% | 14% |
| 01 Jul 2022 - 31 Dec 2022 | 24 Jan 2023 | 14 | 96% | 3% | 1% | 6% |
| 01 Jan 2022 - 30 Jun 2022 | 13 Jul 2022 | 17 | 94% | 5% | 1% | 12% |
| 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 Jan 2020 - 30 Jun 2020 | 10 Jul 2020 | 19 | 92% | 6% | 2% | 18% |
| 01 Jul 2019 - 31 Dec 2019 | 03 Feb 2020 | 18 | 89% | 10% | 1% | 21% |
| 01 Jan 2019 - 30 Jun 2019 | 18 Jul 2019 | 15 | 93% | 5% | 2% | 19% |
| 01 Jul 2018 - 31 Dec 2018 | 17 Apr 2019 | 14 | 92% | 6% | 2% | 19% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 14 | 92% | 7% | 1% | 15% |
Company Summary
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
Company Review
Trend Analysis
The trend for Virgin Enterprises Limited's average time to pay invoices has been gradually increasing since 2018, reaching a peak in 2020 and then slightly decreasing in 2021 and 2022. The percentage of invoices paid within 30 days has remained consistently high, while the percentage of invoices paid between 31 and 60 days has fluctuated but generally stayed below 10%. The percentage of invoices paid later than 60 days has been consistently low, with a slight increase in 2020 and 2021. Overall, there has been a slight increase in the percentage of invoices not paid within agreed terms since 2018.
Volatility Analysis
The average time to pay invoices for Virgin Enterprises Limited has shown a relatively stable trend, with only minor fluctuations each period. However, there has been some volatility in the percentage of invoices paid within 30 days and between 31 and 60 days, with some periods showing larger changes than others. The percentage of invoices paid later than 60 days has also shown some volatility, with a slight increase in 2020 and 2021. The percentage of invoices not paid within agreed terms has shown some volatility, with an overall increase since 2018.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
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
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
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.
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
