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.
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.
| 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 Sept 2023 - 29 Feb 2024 | 30 Apr 2024 | 48 | 62% | 11% | 27% | 41% |
| 01 Mar 2023 - 31 Aug 2023 | 08 Feb 2024 | 37 | 63% | 17% | 19% | 36% |
| 01 Sept 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% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days following invoice date
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
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.
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
Advanced Legal Solutions Limited is a UK company registered for information technology consultancy activities, with links to legal services and application software. It has traded previously under several names, including Iris Legal (Grantham) Limited and Mountain Software Holdings Limited. The company is part of a wider corporate group, being controlled by Alphalaw Limited and associated with the OneAdvanced group, which has filed a group modern slavery statement. Company records show it currently in liquidation, with overdue accounts and confirmation statement filings. Its registered activity centres on IT consultancy work connected to the legal sector rather than direct legal practice.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk