ACADEMY MUSIC GROUP LIMITED
Company Details
Registration Number
03463738
Registered Address
211 Stockwell Road London SW9 9SL
Company Status
Active
Employee Count
451
Turnover
£74,964,000
EBITDA
£18,120,000
Additional Information
Website
academy-music-group.co.uk/Company Type
Private limited Company
Incorporated on
11 November 1997
Nature of Business (SIC)
90040 - Operation of arts facilities
Industries
Music
Region
LondonCompany Location
Financial Overview
£26,475,468
£29,340,031
Last Reporting Period
Filed
29 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
48 days
Payment Periods
Shortest
0 days
Longest
30 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
28%
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 | 29 Jan 2024 | 48 | 43% | 47% | 10% | 28% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 53 | 35% | 38% | 27% | 37% |
| 01 Jul 2022 - 31 Dec 2022 | 11 Jan 2023 | 56 | 31% | 41% | 28% | 31% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 50 | 39% | 38% | 23% | 30% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 43 | 47% | 39% | 14% | 48% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 101 | 41% | 25% | 34% | 50% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 110 | 23% | 17% | 60% | 70% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 50 | 38% | 33% | 29% | 54% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 22 | 82% | 17% | 1% | 29% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 19 | 82% | 17% | 1% | 21% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 22 | 84% | 14% | 2% | 16% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 26 | 77% | 21% | 2% | 34% |
Company Summary
ACADEMY MUSIC GROUP LIMITED is a live music company that operates several music venues across the United Kingdom, including O2 Academy venues
The company was founded in 2004 and is headquartered in London
The company's main focus is to provide a platform for emerging and established artists to perform and connect with their fans
They offer a range of services such as event management, ticketing, marketing, and venue operations
Their venues have a capacity ranging from 300 to 4,000 people, providing a diverse range of music genres
ACADEMY MUSIC GROUP LIMITED is committed to sustainability and has implemented various initiatives to reduce their environmental impact
They have introduced energy-efficient lighting, waste reduction and recycling programs, and work closely with suppliers to source sustainable products
The company's key people include Graham Walters, the CEO, and Steve Forster, the CFO
They have a team of experienced venue managers, event promoters, and marketing professionals who are dedicated to creating unforgettable experiences for their customers
For more information on their venues, events, and services, visit their website at www.academymusicgroup.com
The registered office address is O2 Academy Brixton, 211 Stockwell Road, London SW9 9SL
ACADEMY MUSIC GROUP LIMITED continues to be a leading player in the live music industry, providing top-quality entertainment while promoting sustainability
Company Review
Trend Analysis
The average time to pay for ACADEMY MUSIC GROUP LIMITED has been decreasing over the past three periods, with the biggest decrease being from 2018-2019 (26 to 19). However, there was a significant increase in the average time to pay from 2020-2021 (50 to 101).
Volatility Analysis
The volatility of ACADEMY MUSIC GROUP LIMITED's payment behavior can be seen in the inconsistent percentages of invoices paid within 30 days and between 31-60 days. While there has been a steady decrease in the percentage of invoices paid later than 60 days, there have been fluctuations in the percentage of invoices paid within agreed terms.
Summary Analysis
From 2018-2021, ACADEMY MUSIC GROUP LIMITED has shown improvement in their payment behavior, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, there was a significant regression in 2022-2023, with a large increase in the average time to pay and a decrease in the percentage of invoices paid within 30 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Supplier standard payment terms are 30 days from the date of invoice. Certain supplier payment terms are agreed, on occasion, which may differ to the standard payment terms of 30 days.
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
Disputes from suppliers should be directed to our purchase ledger team. The purchase ledger team will liaise with the supplier to resolve queries on a timely basis.
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?
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