RANK LEISURE LIMITED
Company Information
- Company Number
- 03417930
- Registered Address
- Tor, Saint-Cloud Way, Maidenhead, Berkshire, United Kingdom, SL6 8BN
- Status
- Active
- Employee Count
- 0
- Turnover
- £4,201,000
- EBITDA
- £7,118,000
Additional Details
- Website
- https://rank.com
- Company Type
- Private limited Company
- Incorporated On
- 11 August 1997
- Nature of Business
- 92000 - Gambling and betting activities
- Industries
- Lifestyle And Entertainment
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for RANK LEISURE LIMITED to pay invoices has decreased significantly from 101 days in the second half of 2018 to 40 days in the second half of 2021. This shows a positive trend towards faster payment to suppliers.
Volatility Analysis
The company's payment pattern has been volatile, with a fluctuation in the percentage of invoices paid within 30 days ranging from 7% in the second half of 2018 to 94% in the first half of 2021. Similarly, the percentage of invoices paid later than 60 days has also varied greatly, from 5% in the second half of 2019 to 75% in the second half of 2018.
Summary Analysis
In the first half of 2021, RANK LEISURE LIMITED had an average time to pay of 19 days, with 94% of invoices paid within 30 days. This is a significant improvement from the second half of 2018, where the average time to pay was 101 days and only 7% of invoices were paid within 30 days.
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 2021 - 31 Dec 2021 | 28 Jan 2022 | 40 | 55% | 37% | 8% | 45% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 19 | 94% | 6% | 0% | 6% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 45 | 33% | 40% | 27% | 67% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 22 | 84% | 6% | 10% | 16% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 25 | 64% | 31% | 5% | 36% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 58 | 32% | 23% | 45% | 68% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 101 | 7% | 18% | 75% | 93% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 23 | 85% | 9% | 6% | 15% |
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
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 and taking into account the impact of the COVID-19 pandemic. Any payment terms less than 30 days must be agreed in advance with Rank’s Senior Finance Leadership team. There have been no changes to these terms in the past 6 months.
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.
❌
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
Company Summary
RANK LEISURE LIMITED is a British company that specializes in providing leisure and entertainment services. The company's sustainability program is focused on reducing its environmental impact and promoting sustainable practices. This includes using renewable energy sources, reducing waste and promoting recycling, and implementing green initiatives in their operations.
The company offers a variety of products and services, including casino gaming, bingo, online gaming, and cinema operations. They also have a strong presence in the hospitality industry, with a portfolio of hotels and restaurants across the UK.
The key people at RANK LEISURE LIMITED include the CEO, John O'Reilly, and the Chairman, Ian Burke. Both have extensive experience in the leisure and hospitality industry and are committed to driving the company's sustainability efforts.
The company's website address is www.rank.com, where customers can find information about their services, promotions, and locations. The registered office address is TOR, Saint-Cloud Way, Maidenhead SL6 8BN, United Kingdom.
In conclusion, RANK LEISURE LIMITED is a leading leisure and entertainment company in the UK, with a strong commitment to sustainability. They offer a range of products and services and are led by experienced individuals in the industry. Customers can find more information about the company and its services on their website.
