RANK LEISURE HOLDINGS LIMITED
Company Information
- Company Number
- 01841255
- Employee Count
- 371.0
- Turnover
- 57162000.0
- EBITDA
- -85625000.0
Additional Details
- Industries
- 0
- Region
- South East
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 | 30 Jan 2024 | 30 | 93% | 5% | 2% | 15% |
| 01 Jan 2023 - 30 Jun 2023 | 29 Jul 2023 | 34 | 91% | 6% | 3% | 19% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 34 | 83% | 11% | 6% | 42% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 43 | 62% | 22% | 16% | 86% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 41 | 54% | 31% | 15% | 46% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 22 | 80% | 11% | 9% | 20% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 40 | 45% | 36% | 19% | 55% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 18 | 85% | 7% | 8% | 15% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 36 | 29% | 68% | 3% | 71% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 41 | 42% | 39% | 19% | 58% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 61 | 41% | 24% | 35% | 59% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 16 | 82% | 10% | 8% | 18% |
| 01 Jul 2017 - 31 Dec 2017 | 17 Jan 2018 | 22 | 93% | 6% | 1% | 7% |
Company Summary
RANK LEISURE HOLDINGS LIMITED is a British company that operates in the leisure and entertainment industry
The company's main activities include operating casinos, bingo halls, and online gaming platforms
RANK LEISURE HOLDINGS LIMITED is committed to sustainability and has implemented various environmental initiatives throughout its operations
These include reducing energy consumption, waste management, and promoting sustainable practices among its employees and suppliers
The company offers a wide range of products and services to its customers, including casino games, bingo, and online betting
It also has a loyalty program that rewards its customers with special offers and discounts
The key people at RANK LEISURE HOLDINGS LIMITED include the chairman, chief executive officer, and other senior executives who bring a wealth of experience and expertise to the company
They are dedicated to providing high-quality entertainment experiences for their customers while also prioritizing sustainability
The company's website address is www.rank.com, where customers can find information about its products and services, as well as upcoming events and promotions
The registered office address for RANK LEISURE HOLDINGS LIMITED is TOR, Saint-Cloud Way, Maidenhead, Berkshire, SL6 8BN, United Kingdom
In summary, RANK LEISURE HOLDINGS LIMITED is a leading company in the leisure and entertainment industry, with a strong commitment to sustainability
Its range of products and services, along with its dedicated team, make it a top choice for customers looking for a fun and responsible entertainment experience
Company Review
Trend Analysis
The trend for RANK LEISURE HOLDINGS LIMITED's average time to pay invoices has been fluctuating over the past three periods. From 2017 to 2020, there was a consistent decrease in the average time to pay, with a sharp increase in 2018. However, from 2020 to 2023, there has been a slight increase in the average time to pay.
Volatility Analysis
The volatility for RANK LEISURE HOLDINGS LIMITED's average time to pay invoices has been high, with significant changes between periods. From 2017 to 2020, there was a noticeable decrease in the average time to pay, followed by a slight increase from 2020 to 2023.
Summary Analysis
Between 2017 and 2023, there has been a significant decrease in the average time RANK LEISURE HOLDINGS LIMITED takes to pay invoices. The company's best period was in 2017, where 93% of invoices were paid within 30 days and only 1% were paid later than 60 days. However, there was a sharp increase in the average time to pay in 2018, with 18% of invoices being paid later than 60 days. The company's worst period was in 2019, with 68% of invoices being paid later than 60 days. From 2020 to 2023, there has been a slight increase in the average time to pay, with the company's best period being in 2021, where 80% of invoices were paid within 30 days and only 9% were paid later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The majority of Rank’s suppliers are set to 30 days payment terms which is stipulated within the market tenders inviting commercial proposals, although some suppliers provide longer payment terms as part of the formal negotiation to provide a more attractive commercial model. Any payment terms less than 30 days must be agreed in advance with the Rank’s Senior Finance Leadership team.
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
Purchase orders are raised for the majority of purchases to an approved Rank supplier. Contact details of the person raising the purchase order are given to the supplier on the purchase order. This would normally be the first point of contact for a supplier to resolve a payment dispute. The purchase order also includes terms and conditions of purchase. Section 6.3 under Payment states "If the buyer (Rank) fails to make any payment due to the seller under the contract by the due date for payment then the buyer shall pay interest on the overdue amount at the rate of 2% per annum above the National Westminster Bank Plc's base rate. Such interest shall accrue on a daily basis from the due date until the actual payment whether before or after judgement. This clause does not apply to payments that the buyer disputes in good faith". Rank would normally advise a supplier if there was an issue with goods or services delivered and request a credit note. If this was disputed by the supplier, then again the person that raised the PO would normally negotiate this directly.
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