PHOENIX GROUP MANAGEMENT SERVICES LIMITED

Company Information

Company Number
03588063
Registered Address
1 Wythall Green Way, Wythall, Birmingham, West Midlands, B47 6WG
Status
Active
Employee Count
1254.0
Turnover
470207000.0
EBITDA
-46704000.0

Additional Details

Company Type
Private limited Company
Incorporated On
25 June 1998
Nature of Business
66290 - Other activities auxiliary to insurance and pension funding
Industries
Financial Services
Region
West Midlands

Company Location

Google
Map data ©2025
Map data ©2025

Financial Metrics

Cash
£15,234,000.00
Net Worth
£13,341,000.00
Total Current Assets
£234,797,000.00
Total Current Liabilities
£294,244,000.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-02-02

Time to Pay

Average Time to Pay
13 days
Shortest Period:30 days
Longest Period:0 days
Max Contractual:30 days

Payment Timeline

Within 30 Days
91%
31-60 Days
5%
After 60 Days
4%
Not Paid Within Terms9%

Payment Features

Participates in Codes✗ No
E-Invoicing✗ No
Supply Chain Finance✗ No

Payment Time Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018015304560

Payment Distribution Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 20180255075100

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202302 Feb 20241391%5%4%9%
01 Jan 2023 - 30 Jun 202327 Jul 20231291%5%4%9%
01 Jul 2022 - 31 Dec 202203 Feb 20232283%9%9%17%
01 Jan 2022 - 30 Jun 202201 Aug 20222081%10%9%19%
01 Jul 2021 - 31 Dec 202125 Feb 20224253%28%19%47%
01 Jan 2021 - 30 Jun 202130 Jul 20214859%22%19%41%
01 Jul 2020 - 31 Dec 202029 Jan 20214267%20%13%33%
01 Jan 2020 - 30 Jun 202031 Jul 20204248%35%18%52%
01 Jul 2019 - 31 Dec 201929 Jan 20203850%38%13%50%
01 Jan 2019 - 30 Jun 201931 Jul 20193647%45%8%53%
01 Jul 2018 - 31 Dec 201830 Jan 20193357%32%11%42%
01 Jan 2018 - 30 Jun 201830 Jul 20183250%42%8%50%

Company Summary

Phoenix Group Management Services Limited is a leading financial services company based in the UK

The company offers a wide range of services including insurance, pensions, and retirement planning

It operates under the Phoenix Group, which is a FTSE 100 listed company

The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact

It has a sustainability program in place that focuses on reducing carbon emissions, promoting renewable energy, and minimizing waste

The company also actively supports various charities and community projects

Phoenix Group Management Services Limited offers a diverse range of products and services to its customers

This includes life insurance, annuities, workplace pensions, and retirement solutions

The company caters to both individuals and businesses, with a focus on providing financial security and peace of mind to its customers

The company is led by a team of experienced and knowledgeable individuals

The CEO, Andy Briggs, has over 30 years of experience in the financial industry

The Executive Director, Clive Bannister, has also been instrumental in driving the company's growth and success

For any inquiries or information, customers can contact the company through its website, which is www.thephoenixgroup.com

The registered office address for Phoenix Group Management Services Limited is Juxon House, 100 St Paul's Churchyard, London, EC4M 8BU, United Kingdom

In summary, Phoenix Group Management Services Limited is a well-established financial services company that is committed to sustainability and offers a wide range of products and services to its customers

With a strong team of leaders and a focus on giving back to the community, the company continues to thrive in the financial market

Company Review

Trend Analysis

The average time taken for PHOENIX GROUP MANAGEMENT SERVICES LIMITED to pay invoices has steadily increased over the past three periods, with a significant jump in 2020.

Volatility Analysis

The volatility of the company's payment patterns can be seen in the fluctuating percentages of invoices paid within 30 days and between 31 and 60 days. The highest volatility can be seen in the percentage of invoices paid later than 60 days, which has ranged from 4% to 18% over the past three periods.

Summary Analysis

From 2020 to 2023, PHOENIX GROUP MANAGEMENT SERVICES LIMITED has seen an increase in the average time taken to pay invoices, with a peak of 48 days in 2021. However, there has also been an improvement in the percentage of invoices paid within 30 days, with a high of 91% in 2023. The company's best period for timely payments was in 2023, with 91% of invoices paid within 30 days and only 4% 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

The business' standard payment terms are for all undisputed invoices to be paid within 30 days of receipt. The maximum contractual payment period is 30 days from the receipt of an invoice and there have been no changes to the business' standard payment terms in the reporting period. Sunlife pay in line with variable contracted terms, in the vast majority of cases this is 30 days from the date of invoice but there are differing terms in place with different suppliers. We will agree to shorter terms if the contractual negotiations require it.

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

30

Dispute Resolution Process

Phoenix has a dispute resolution process for staff to follow should a query or dispute of an invoice arise, which is published on the intranet. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes.

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

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