RAC MOTORING SERVICES
Company Details
Registration Number
01424399
Registered Address
Rac House Brockhurst Crescent Walsall WS5 4AW
Company Status
Active
Employee Count
3538
Turnover
£475,000,000
EBITDA
£102,000,000
Additional Information
Website
raccars.co.uk/Company Type
Private unlimited company
Incorporated on
31 May 1979
Nature of Business (SIC)
96090 - Other service activities not elsewhere classified
Industries
Cars, motorcycles and other road vehicles, Insurance
Region
West MidlandsCompany Location
Financial Overview
£7,000,000
£317,000,000
Last Reporting Period
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
43 days
Payment Periods
Shortest
30 days
Longest
90 days
Max Contractual
90 days
Payment Timeline
Not Paid Within Terms
0%
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 | 43 | 29% | 67% | 4% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 37 | 28% | 66% | 6% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 29 Jan 2023 | 27 | 28% | 67% | 5% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 23 | 29% | 66% | 5% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 30 | 40% | 55% | 5% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 22 Jul 2021 | 30 | 27% | 65% | 8% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 15 Jul 2020 | 39 | 37% | 54% | 9% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 40 | 43% | 51% | 6% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 27 Sep 2019 | 48 | 40% | 52% | 8% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 02 Oct 2019 | 52 | 42% | 54% | 4% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 02 Oct 2019 | 50 | 41% | 55% | 4% | 0% |
Company Summary
RAC Motoring Services is a British automotive services company that provides a wide range of services to its customers
Their main focus is on providing assistance to drivers, whether it be in the form of roadside assistance, insurance services, or motoring advice
The company has a strong commitment to sustainability and has implemented various initiatives to reduce their environmental impact
This includes promoting the use of electric and hybrid vehicles through their partnership with Electric Vehicle Network and offering green insurance policies
They also have a recycling program in place for used batteries and tires
One of RAC's main products is their roadside assistance service, which provides 24/7 support to drivers in case of breakdowns or accidents
They also offer insurance policies for cars, motorcycles, and other vehicles, as well as home and pet insurance
In addition, RAC offers motoring advice and information through their website and mobile app, including route planning, fuel prices, and traffic updates
The key people at RAC include CEO Dave Hobday and Chief Marketing Officer Lisa Kerr, who are both dedicated to providing high-quality services to their customers
The company has over 8 million members and is backed by a network of independent contractors and partners
For more information and to access their services, customers can visit RAC's website at www.rac.co.uk
The company's registered office address is RAC House, Brockhurst Crescent, Walsall, WS5 4AW
Overall, RAC Motoring Services is a reputable and sustainable company that prioritizes providing reliable and eco-friendly services to its customers
Company Review
Trend Analysis
The data for RAC MOTORING SERVICES shows a consistent decrease in the average time taken to pay invoices over the past three periods. This trend is also reflected in the percentage of invoices paid within 30 days, which has increased over the same time period. However, there has been a slight increase in the percentage of invoices paid later than 60 days in the most recent period.
Volatility Analysis
The data for RAC MOTORING SERVICES shows a relatively stable trend in terms of the average time taken to pay invoices. However, there has been some volatility in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days, with some fluctuations in these numbers over the past three periods.
Summary Analysis
From the data, it can be seen that RAC MOTORING SERVICES has consistently improved their average time taken to pay invoices over the past three periods. The most recent period (2023-01-01 to 2023-06-30) has the lowest average time of 37 days, showing a significant improvement from the first period (2019-01-01 to 2019-06-30) with an average of 48 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
standard payment terms are 60 days
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
90
Dispute Resolution Process
Disputes are resolved by negotiation between the parties
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?
❌
