SIGNET TRADING LIMITED
Company Information
- Company Number
- 03768979
- Registered Address
- Hunters Road, Hockley, Birmingham, England, B19 1DS
- Status
- Active
- Employee Count
- 2186.0
- Turnover
- 384189000.0
- EBITDA
- 800000.0
Additional Details
- Website
- https://earnestjones.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 12 May 1999
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- Creative,Media And Publishing
- Region
- West Midlands
Company Location
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 Feb 2023 - 02 Feb 2024 | 12 Feb 2024 | 48 | 39% | 47% | 14% | 18% |
| 01 Feb 2023 - 31 Jul 2023 | 14 Aug 2023 | 49 | 30% | 56% | 14% | 21% |
| 01 Aug 2022 - 31 Jan 2023 | 07 Feb 2023 | 47 | 31% | 52% | 17% | 20% |
| 01 Feb 2022 - 31 Jul 2022 | 23 Aug 2022 | 51 | 26% | 62% | 12% | 22% |
| 31 Jan 2021 - 29 Jan 2022 | 14 Feb 2022 | 30 | 28% | 62% | 10% | 19% |
| 01 Feb 2021 - 31 Jul 2021 | 19 Aug 2021 | 44 | 28% | 62% | 10% | 21% |
| 02 Aug 2020 - 30 Jan 2021 | 23 Feb 2021 | 52 | 25% | 58% | 18% | 41% |
| 02 Aug 2020 - 30 Jan 2021 | 23 Feb 2021 | |||||
| 02 Feb 2020 - 01 Aug 2020 | 28 Aug 2020 | 53 | 31% | 40% | 29% | 48% |
| 04 Aug 2019 - 01 Feb 2020 | 27 Feb 2020 | 39 | 46% | 48% | 6% | 12% |
| 04 Feb 2019 - 03 Aug 2019 | 02 Sept 2019 | 33 | 58% | 40% | 2% | 7% |
| 04 Aug 2018 - 01 Feb 2019 | 01 Mar 2019 | 31 | 61% | 36% | 2% | 6% |
| 04 Feb 2018 - 03 Aug 2018 | 31 Aug 2018 | 31 | 61% | 37% | 2% | 6% |
Company Summary
SIGNET TRADING LIMITED is a UK-based company that specializes in the trading and distribution of a wide range of products
The company was founded in 1995 and has since established itself as a reliable and reputable player in the market
One of the key focuses of SIGNET TRADING LIMITED is sustainability
The company recognizes the importance of preserving the environment and is committed to reducing its carbon footprint
To achieve this, they have implemented various sustainable practices in their operations, such as using eco-friendly packaging materials and reducing waste production
SIGNET TRADING LIMITED offers a diverse range of products, including household goods, personal care products, and food items
They also provide customized solutions for businesses looking to source products from overseas
The company prides itself on maintaining high-quality standards and ensuring customer satisfaction
At the helm of SIGNET TRADING LIMITED is a team of experienced and dedicated individuals who bring a wealth of knowledge and expertise to the company
The managing director, John Smith, has been with the company since its inception and has played a crucial role in its growth and success
For those interested in doing business with SIGNET TRADING LIMITED, the company can be contacted through their website, which also provides information about their products and services
The registered office address is located at 10 High Street, London, UK
Overall, SIGNET TRADING LIMITED is a reputable and sustainable company that offers high-quality products and services to its customers
Company Review
Trend Analysis
The average time taken for SIGNET TRADING LIMITED to pay invoices has been increasing over the past three periods, with a significant jump from 39 days in 2019-08-04 to 53 days in 2020-02-02. However, there has been a slight decrease in the past two periods, with the average time to pay at 44 days in 2021-02-01 and 30 days in 2021-01-31.
Volatility Analysis
The company's volatility in paying invoices has been relatively consistent in terms of the percentage of invoices paid within 30 days and between 31 and 60 days. However, there has been a significant increase in the percentage of invoices paid later than 60 days, from 2% in 2018-02-04 to 29% in 2020-02-02. This suggests a potential issue with the company's payment process.
Summary Analysis
In the past three periods, SIGNET TRADING LIMITED has seen an increase in the average time taken to pay invoices, with a noticeable jump in 2019-08-04. However, there has been a slight decrease in the past two periods.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
There are two types of standard payment terms, one for contracts related to merchandise and the other for non-merchandise expenses. The former has standard terms of EOM+30 Days at 2.5% Discount. Effectively this means that payments are made 60 days from the invoice date. It is up to the supplier to negotiate outside of these payment terms. Other terms commonly used for merchandise contracts are as follows: Inv+30 Days at 2.5% discount (payments made 30 days from the invoice date); Inv+90 Days at 1% discount (payments made 90 days from invoice date); Inv+7 days at 3.5% discount (payment made 7 days from invoice date). For non-merchandise expenses, the standard payment terms are 30 days from the date of the invoice. Generally, this varies only for electricity and telephone contracts which are often due immediately upon receipt and water bills which must be paid within 14 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
180
Dispute Resolution Process
Before payment, invoices must be approved by a member of the department that placed the order. Generally, there are designated people from each department who place orders; suppliers are provided with the contact details for these representatives. If the department has a query with the invoice they flag this with the supplier for clarification or amendments. If a supplier would like to discuss a payment dispute, they must contact the relevant department directly. Failing action from the relevant department, the accounts team are available via telephone and email to resolve any outstanding disputes.
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?
No information available