WALES MILLENNIUM CENTRE
Company Information
- Company Number
- 03221924
- Registered Address
- Bute Place, Cardiff Bay, Cardiff, CF10 5AL
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Private Limited Company by guarantee without share capital use of 'Limited' exemption
- Incorporated On
- 9 July 1996
- Nature of Business
- 90040 - Operation of arts facilities
- Industries
- Coming Soon
- Region
- Wales
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
WALES MILLENNIUM CENTRE exhibits a strong trend of prompt payments, with an average time of 26 days and 82% of invoices settled within 30 days. This demonstrates a generally efficient payment process and a commitment to timely disbursements. However, the 8% late payment rate suggests occasional deviations from their primary promptness.
Volatility Analysis
While the majority of payments are reliable, 11% extend to 31-60 days and 7% exceed 60 days, introducing a degree of unpredictability for a notable minority of invoices. This distribution points to a moderate level of volatility, where a portion of payments may experience significant delays beyond standard terms. Suppliers should acknowledge this potential for extended payment cycles on some transactions.
Summary Analysis
Overall, WALES MILLENNIUM CENTRE presents a largely favorable payment profile for suppliers, with a high likelihood of timely settlement. Key decision factors include the strong average payment speed and high percentage within 30 days, balanced against the risk of nearly one-fifth of payments potentially falling into extended terms. Suppliers may consider establishing clear payment terms and monitoring initial invoices closely to mitigate exposure to the minority of delayed payments.
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 Oct 2023 - 31 Mar 2024 | 16 May 2024 | 24 | 82% | 12% | 6% | 27% |
| 01 Apr 2023 - 30 Sept 2023 | 04 Jan 2024 | 26 | 82% | 11% | 7% | 8% |
| 01 Oct 2022 - 31 Mar 2023 | 03 Jan 2024 | 27 | 84% | 10% | 6% | 9% |
| 01 Apr 2022 - 30 Sept 2022 | 17 Oct 2022 | 26 | 83% | 10% | 7% | 6% |
| 01 Oct 2021 - 31 Mar 2022 | 13 Apr 2022 | 36 | 66% | 23% | 11% | 30% |
| 01 Apr 2021 - 30 Sept 2021 | 28 Oct 2021 | 27 | 71% | 25% | 4% | 25% |
| 01 Oct 2020 - 31 Mar 2021 | 28 Apr 2021 | 21 | 83% | 15% | 3% | 16% |
| 01 Apr 2020 - 30 Sept 2020 | 22 Oct 2020 | 28 | 62% | 32% | 6% | 37% |
| 01 Oct 2019 - 31 Mar 2020 | 14 May 2020 | 28 | 77% | 13% | 11% | 21% |
| 01 Apr 2019 - 30 Sept 2019 | 29 Nov 2019 | 31 | 69% | 19% | 13% | 29% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 28 | 76% | 14% | 10% | 25% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 30 days from date of invoice
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
30
Dispute Resolution Process
Disputes should be raised with Accounts Payable in the first instance. Accounts Payable will investigate the dispute, liaising with the relevant business unit. If the matter can not be resolved it will be escalated initially to the Financial Accountant and, if required, the Head of Finance.
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.
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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.
❌
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
Company Summary
WALES MILLENNIUM CENTRE is an active Private Limited Company by guarantee, operating without share capital and utilising the 'Limited' exemption. This organisational structure is typically adopted by non-profit entities focused on public benefit, often related to cultural, artistic, or community activities, as implied by its name.
The organisation was incorporated on 9 July 1996 and is registered in Wales under company number 03221924. Its registered office is located at Bute Place, Cardiff Bay, Cardiff, CF10 5AL.
Companies of this type commonly provide services that offer public benefit rather than generating profit for shareholders. In the UK market, this often includes operating a cultural or arts venue, facilitating educational programmes, hosting events, and engaging with the community to promote arts, culture, and heritage.
