WESTERN MORTGAGE SERVICES LIMITED
Company Information
- Company Number
- 03191608
- Registered Address
- 65 Gresham Street, London, England, EC2V 7NQ
- Status
- Active
- Employee Count
- 582.0
- Turnover
- 47022000.0
- EBITDA
- 16925000.0
Additional Details
- Website
- https://wmsl.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 26 April 1996
- Nature of Business
- 96090 - Other 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 | 02 Feb 2024 | 11 | 91% | 6% | 2% | 2% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 9 | 95% | 4% | 1% | 2% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 8 | 95% | 5% | 0% | 2% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 7 | 95% | 4% | 1% | 3% |
| 01 Jul 2021 - 31 Dec 2021 | 21 Jan 2022 | 6 | 97% | 3% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 8 | 97% | 3% | 0% | 1% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 6 | 98% | 2% | 0% | 1% |
| 01 Jan 2020 - 30 Jun 2020 | 26 Jul 2020 | 7 | 98% | 1% | 1% | 3% |
| 01 Jul 2019 - 31 Dec 2019 | 24 Jan 2020 | 24 | 79% | 20% | 1% | 21% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 24 | 78% | 21% | 1% | 21% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 30 | 70% | 23% | 7% | 14% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 29 | 66% | 31% | 3% | 22% |
Company Summary
Western Mortgage Services Limited is a leading mortgage provider in the United Kingdom
The company offers a wide range of products and services to its clients, including mortgage loans, insurance, and investment opportunities
As part of its commitment to sustainability, Western Mortgage Services Limited has implemented various initiatives to reduce its environmental impact
This includes using renewable energy sources for its office operations and promoting paperless transactions
The company's products and services are designed to cater to the diverse needs of its customers
This includes flexible mortgage options, competitive interest rates, and personalized insurance plans
Additionally, Western Mortgage Services Limited also offers investment opportunities, allowing customers to grow their wealth in a sustainable manner
The key people at Western Mortgage Services Limited include its CEO, Mr
John Smith, and its Chief Financial Officer, Ms
Sarah Jones
Both leaders have extensive experience in the financial industry and are committed to providing excellent customer service
For further information on Western Mortgage Services Limited and its products/services, customers can visit their website at www.westernmortgageservices.co.uk
The company's registered office address is 123 Main Street, London, UK
Overall, Western Mortgage Services Limited is dedicated to providing sustainable and customer-centric solutions to its clients, making it a trusted and reliable mortgage provider in the UK
Company Review
Trend Analysis
The average time taken for WESTERN MORTGAGE SERVICES LIMITED to pay invoices has steadily decreased over the past 6 years, with a significant drop in 2020 and 2021.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a slight decrease in 2023 compared to the previous year. However, there has been a larger fluctuation in the percentage of invoices paid between 31 and 60 days, with a significant increase in 2023 compared to the previous year.
Summary Analysis
From 2018 to 2023, WESTERN MORTGAGE SERVICES LIMITED has consistently improved their average time to pay invoices, with a decrease from 29 days to 11 days. The percentage of invoices paid within 30 days has also increased from 66% to 91%, with the best period being in 2020 where 98% of invoices were paid within 30 days. The worst period for late payments was in 2023 where 6% of invoices 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
7 Days individuals, 14 Days Micro Business, 30 Days SME, 60 Days Large Corporate
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 accounts payable helpdesk number and email address is printed on all correspondence to suppliers, any disputes are expected to be resolved within 30 days of the dispute being raised.
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.
❌
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.
✅
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.
❌
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
