PRUDENTIAL SERVICES LIMITED
Company Information
- Company Number
- 02313235
- Registered Address
- 1 Angel Court, London, England, EC2R 7AG
- Status
- Active
- Employee Count
- 528.0
- Turnover
- 92065000.0
- EBITDA
- 9640000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 4 November 1988
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- 0
- 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 | 30 Jan 2024 | 26 | 88% | 7% | 5% | 12% |
| 01 Jan 2023 - 30 Jun 2023 | 19 Jul 2023 | 27 | 91% | 6% | 3% | 9% |
| 01 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 25 | 93% | 4% | 3% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 25 Jul 2022 | 25 | 93% | 4% | 3% | 7% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Jan 2022 | 29 | 89% | 6% | 5% | 11% |
| 01 Jan 2021 - 30 Jun 2021 | 20 Jul 2021 | 32 | 84% | 8% | 8% | 16% |
| 01 Jul 2020 - 31 Dec 2020 | 18 Jan 2021 | 33 | 80% | 11% | 9% | 20% |
| 01 Jan 2020 - 30 Jun 2020 | 20 Jul 2020 | 42 | 73% | 12% | 15% | 27% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 47 | 60% | 21% | 19% | 41% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 49 | 54% | 26% | 20% | 49% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 44 | 55% | 28% | 17% | 48% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 46 | 55% | 24% | 21% | 48% |
Company Summary
PRUDENTIAL SERVICES LIMITED is a financial services company based in the United Kingdom
Established in 1848, the company offers a wide range of products and services, including insurance, investments, and retirement planning
One of the key focuses of PRUDENTIAL SERVICES LIMITED is sustainability
The company has a strong commitment to environmental responsibility and has implemented various initiatives to reduce its carbon footprint
This includes utilizing renewable energy sources, reducing waste and promoting sustainable practices among its employees
In terms of products and services, PRUDENTIAL SERVICES LIMITED offers a variety of insurance options, such as life, health, and property insurance
They also provide investment opportunities, including mutual funds and pension plans, to help customers plan for their financial future
The company is led by a board of directors, with Mr
Paul Manduca serving as the Chairman and Mr
Mike Wells as the Group Chief Executive
They are supported by a team of experienced executives who are dedicated to delivering quality services to their customers
PRUDENTIAL SERVICES LIMITED can be contacted through their website, which also provides information on their various products and services
Their registered office address is located in London, UK
Overall, PRUDENTIAL SERVICES LIMITED is a reputable and well-established financial services company with a strong commitment to sustainability
With a wide range of products and services and a dedicated team of professionals, they are a reliable choice for individuals and businesses looking for financial solutions
Company Review
Trend Analysis
The average time taken for PRUDENTIAL SERVICES LIMITED to pay invoices to suppliers has decreased steadily from 46 days in the first period (Jan 2018 - Jun 2018) to 26 days in the most recent period (Jul 2023 - Dec 2023). This shows a positive trend towards quicker payment to suppliers.
Volatility Analysis
The volatility of invoice payment for PRUDENTIAL SERVICES LIMITED has also decreased over time. In the first period, 21% of invoices were paid later than 60 days, while in the most recent period, only 5% of invoices were paid later than 60 days. This shows a decrease in the variability of invoice payment, indicating a more consistent and timely payment process.
Summary Analysis
Looking at the data over the past three periods (Jul 2022 - Dec 2023), there has been a significant improvement in invoice payment for PRUDENTIAL SERVICES LIMITED. The average time taken to pay invoices has decreased from 27 days to 26 days. The percentage of invoices paid within 30 days has increased from 91% to 93%, and the percentage of invoices paid later than 60 days has decreased from 6% to 3%. This shows a consistent trend towards quicker and more timely payment to suppliers.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Company’s standard contractual payment terms for all qualifying contracts are payments within 30 days after the invoice date. The agreed payment terms are subsequently reflected in our contractual documentation, purchase orders and our accounting system. Invoices should be submitted in PDF format to GHO.Procurement@prudentialplc.com.
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
30
Dispute Resolution Process
Prudential Services Limited seeks amicable resolution of any supplier invoice disputes or escalations. Any supplier communication including any dispute or escalations should be sent in the first instance to GHO.Procurement@prudentialplc.com. Any dispute or difference arising out of or in connection with the Contract shall in the first instance be referred to the Order Contact (within Prudential) and the Supplier Contact for resolution within 10 Working Days of such referral. If the matter is not resolved within this timescale, either of the Contacts may refer the matter in dispute to more senior personnel within the respective parties who shall endeavour in good faith to resolve the dispute as soon as reasonably possible.
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
