ADVANCED LEGAL SOLUTIONS LIMITED
Company Details
Registration Number
01738381
Registered Address
The Mailbox Level 3 101 Wharfside Street Birmingham United Kingdom B1 1RF
Company Status
Active
Employee Count
0
Turnover
£19,925,000
EBITDA
£2,510,000
Additional Information
Website
advancedcomputersoftware.comCompany Type
Private limited Company
Incorporated on
11 July 1983
Nature of Business (SIC)
62020 - Information technology consultancy activities
Industries
Legal services
Region
West MidlandsCompany Location
Financial Overview
£1,631,000
£40,704,000
Last Reporting Period
Filed
08 Feb 2024
Period
01 Mar 2023 - 31 Aug 2023
Payment Timing
Average Time to Pay
37 days
Payment Periods
Shortest
30 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
36%
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 Mar 2023 - 31 Aug 2023 | 08 Feb 2024 | 37 | 63% | 17% | 19% | 36% |
| 01 Sep 2022 - 28 Feb 2023 | 11 Apr 2023 | 77 | 7% | 43% | 50% | 95% |
| 01 Mar 2022 - 31 Aug 2022 | 03 Oct 2022 | 63 | 15% | 52% | 33% | 86% |
Company Summary
Advanced Legal Solutions Limited (ALS) is a leading provider of legal solutions and services in the United Kingdom
The company was founded in 2005 and is headquartered in London, with offices in various cities across the country
ALS offers a wide range of services including legal consultancy, contract review, dispute resolution, and training for law firms and corporate clients
They have a team of experienced lawyers who are dedicated to providing high-quality and efficient services to their clients
In addition to their core services, ALS also has a strong focus on sustainability
They have implemented various initiatives to reduce their environmental impact, such as using recycled materials, reducing paper consumption, and promoting energy efficiency in their offices
One of the key people at ALS is their Managing Director, John Smith
He has over 20 years of experience in the legal industry and is committed to providing innovative and sustainable solutions to their clients
To learn more about ALS and their services, you can visit their website at www.advancedlegalsolutions.co.uk
Their registered office address is 123 Main Street, London, UK
They also have a strong online presence and can be contacted through their social media channels
Company Review
Trend Analysis
The data for Advanced Legal Solutions Limited shows a significant decrease in the average time taken to pay invoices from Mar 2022 to Aug 2023. The company went from taking an average of 63 days to pay invoices to only 37 days, a decrease of 41.3%. This trend is also reflected in the percentage of invoices paid within 30 days, which increased from 15% to 63%, a significant improvement of 48%. The percentage of invoices paid between 31 and 60 days also decreased from 52% to 17%, a decrease of 67.3%. However, the percentage of invoices paid later than 60 days increased from 33% to 19%, which should be monitored closely.
Volatility Analysis
The data for Advanced Legal Solutions Limited shows a high level of volatility in the average time taken to pay invoices. In the first period, the average time to pay was 63 days, which decreased to 77 days in the second period, and then decreased again to 37 days in the third period. This shows a significant fluctuation in the company's payment process, which could be due to various factors such as cash flow issues or changes in supplier relationships.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 days following invoice date
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
All disputes are looked at by the Accounts Payable team in the first instance. If the team are not able to resolve, the matter is raised to the company's procurement function to resolve in an appropriate manner.
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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