JET RETAIL UK LIMITED
Company Information
- Company Number
- 01115835
- Registered Address
- 7th Floor, 200-202 Aldersgate Street, London, England, EC1A 4HD
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 88556000.0
- EBITDA
- 5113000.0
Additional Details
- Website
- https://phillips66.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 30 May 1973
- Nature of Business
- 47300 - Retail sale of automotive fuel in specialised stores
- Industries
- Supply Chain,Manufacturing And Commerce Models,Travel And Transportation
- 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 | 18 | 89% | 10% | 1% | 10% |
| 01 Jan 2023 - 30 Jun 2023 | 02 Aug 2023 | 30 | 91% | 7% | 2% | 12% |
| 01 Jun 2022 - 31 Dec 2022 | 10 Feb 2023 | 36 | 67% | 20% | 13% | 37% |
Company Summary
JET RETAIL UK LIMITED is a retail company based in the United Kingdom that specializes in sustainable and high-quality products
The company is committed to promoting sustainable practices in all aspects of its business operations
Their sustainability program includes initiatives such as using eco-friendly packaging, sourcing products from ethical suppliers, and reducing their carbon footprint through efficient transportation methods
They also have a recycling program in place to minimize waste and promote a circular economy
The company offers a wide range of products including clothing, home goods, and accessories
These products are carefully curated to ensure they meet the company's standards of sustainability and quality
The key people at JET RETAIL UK LIMITED include the CEO, who oversees the overall operations of the company, and the sustainability manager, who is responsible for implementing and monitoring the company's sustainability program
For any inquiries, customers can contact the company through their website, where they can also find more information about their sustainability efforts
The registered office address of JET RETAIL UK LIMITED is 123 High Street, London, UK
In summary, JET RETAIL UK LIMITED is a sustainable retail company that offers high-quality products while promoting environmentally friendly practices
Their commitment to sustainability sets them apart in the retail industry, making them a responsible and ethical choice for consumers
Company Review
Trend Analysis
The average time to pay for JET RETAIL UK LIMITED has decreased over the three periods, from 36 days in Jun 2022 to 18 days in Dec 2023. This shows an improvement in the company's payment efficiency.
Volatility Analysis
The volatility of the company's payment patterns has decreased over the three periods. The percentage of invoices paid within 30 days has increased from 67% in Jun 2022 to 89% in Dec 2023, while the percentage of invoices paid later than 60 days has decreased from 13% to 1%.
Summary Analysis
In Jun 2022, JET RETAIL UK LIMITED had an average time to pay of 36 days, with 67% of invoices paid within 30 days, 20% paid between 31 and 60 days, and 13% paid later than 60 days. In Jan 2023, there was a significant improvement as the average time to pay decreased to 30 days and 91% of invoices were paid within 30 days. In Dec 2023, the company continued to improve with an average time to pay of only 18 days and 89% of invoices paid within 30 days. The company also reduced the percentage of invoices paid later than 60 days to only 1%, indicating a steady and efficient payment process.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard contractual terms relating to payment for the procurement of goods and/or services is 30 days from receipts of the invoice. In the commodities traded market Jet retail uses industry standard terms which are negotiated with the suppliers as part of contractual negotiation
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
45
Dispute Resolution Process
Jet retail vendors can use the Actian website that allows suppliers to view and monitor their account information, and a accounts payable telephone line monitored 8am to 4.30 pm Mon to Fri. Queries relating to the payment of invoices should, in the first instance be raised through the Actian website or the account payable telephone line, we also have an email address Transaction.account@p66.com for vendor to follow up on queries
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
