FOUNDATION FOR CREDIT COUNSELLING
Company Information
- Company Number
- 02757055
- Registered Address
- 123 Albion Street, Leeds, England, LS2 8ER
- Status
- Active
- Employee Count
- 1249.0
- Turnover
- 62002000.0
- EBITDA
- 4949000.0
Additional Details
- Website
- https://stepchange.org
- Company Type
- Private Limited Company by guarantee without share capital use of 'Limited' exemption
- Incorporated On
- 19 October 1992
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified
- Industries
- 0
- Region
- Yorkshire and The Humber
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 | 31 Jan 2024 | 27 | 63% | 36% | 1% | 69% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 35 | 59% | 35% | 6% | 67% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 33 | 58% | 36% | 6% | 51% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 33 | 49% | 46% | 5% | 61% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 31 | 60% | 37% | 3% | 47% |
| 01 Jan 2021 - 30 Jun 2021 | 16 Jul 2021 | 34 | 57% | 38% | 5% | 49% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 33 | 55% | 41% | 4% | 43% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 35 | 49% | 46% | 5% | 52% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 35 | 41% | 53% | 6% | 55% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 34 | 68% | 24% | 8% | 3% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 23 | 84% | 13% | 2% | 3% |
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 34 | 58% | 37% | 5% | 36% |
Company Summary
The Foundation for Credit Counselling is a non-profit organization that aims to provide financial education and counselling services to individuals and families in need
Their main focus is on promoting financial literacy and helping people manage their debt and credit effectively
One of the key activities of the Foundation for Credit Counselling is their sustainability program
This program aims to educate individuals on sustainable financial practices and promote responsible borrowing and spending habits
They also offer workshops and seminars on budgeting, saving, and debt management
The organization also provides a range of products and services to help individuals and families improve their financial situations
These include debt management plans, credit counselling sessions, and financial coaching
Their services are tailored to the specific needs of each client and are offered free of charge
The Foundation for Credit Counselling is led by a team of dedicated individuals, including financial experts and counsellors
Their website provides a wealth of information on financial literacy, debt management, and budgeting
They also have a registered office address in London and can be contacted via their website or through their toll-free hotline
In summary, the Foundation for Credit Counselling is committed to promoting financial literacy and helping individuals and families achieve financial stability
Through their sustainability program and range of services, they are making a positive impact on the community
Their website, as well as their registered office address, provide easy access to their services and resources
Company Review
Trend Analysis
The average time taken for FOUNDATION FOR CREDIT COUNSELLING to pay invoices to suppliers has remained relatively consistent over the past three years, with a slight decrease from 34 days in 2018 to 31 days in 2023. However, there was a significant increase in the percentage of invoices paid later than 60 days in 2019, which has since decreased but remains above 5%. The percentage of invoices paid within 30 days has also fluctuated, with a decrease from 68% in 2019 to 59% in 2023.
Volatility Analysis
The volatility of FOUNDATION FOR CREDIT COUNSELLING's invoice payment patterns can be seen in the fluctuation of the percentage of invoices paid within 30 days, which has ranged from 41% to 84% over the past three years. There has also been volatility in the percentage of invoices paid later than 60 days, with a high of 8% in 2019 and a low of 1% in 2023.
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 deems 31 days to be its standard payment term unless specific agreement has been reached with a particular supplier
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
The Foundation for Credit Counselling is committed to dealing with its suppliers in a fair, honest and transparent manner, whilst seeking best value for the Charity. If we dispute any item on an invoice, we aim to (a) promptly inform the supplier of the disputed item and (b) work with the supplier to (1) explain why the relevant item has been disputed; and (2) reach a mutually acceptable outcome. We operate a no PO no pay on invoices and when an invoice is received with no PO suppliers are encouraged to contact the individual who placed the order for the goods and services or liaise with procurement as a first point of contact. The Charity provides an accounts payable team email address to deal with any queries in relation to payment of invoices.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
