SKILLS AND WORK SOLUTIONS LIMITED
Company Details
Registration Number
03918013
Registered Address
Lee House 90 Great Bridgewater Street Manchester M1 5JW
Company Status
Active
Employee Count
1004
Turnover
£77,889,000
EBITDA
£1,326,000
Additional Information
Website
www.skills-solutions.org.uk/Company Type
Private limited Company
Incorporated on
2 February 2000
Nature of Business (SIC)
85320 - Technical and vocational secondary education
Industries
Human resources, Tutoring, training, coaching and skills development
Region
North WestCompany Location
Financial Overview
£7,388,000
£-2,047,000
Last Reporting Period
Filed
07 Dec 2022
Period
01 Apr 2022 - 30 Sep 2022
Payment Timing
Average Time to Pay
14 days
Payment Periods
Shortest
7 days
Longest
30 days
Max Contractual
30 days
Payment Timeline
Not Paid Within Terms
14%
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 Apr 2022 - 30 Sep 2022 | 07 Dec 2022 | 14 | 86% | 7% | 8% | 14% |
| 01 Oct 2021 - 31 Mar 2022 | 27 May 2022 | 10 | 92% | 3% | 5% | 17% |
| 01 Apr 2021 - 30 Sep 2021 | 27 May 2022 | 9 | 92% | 3% | 5% | 18% |
| 01 Oct 2020 - 31 Mar 2021 | 19 May 2021 | 11 | 90% | 4% | 7% | 22% |
| 01 Apr 2020 - 30 Sep 2020 | 04 Nov 2020 | 14 | 92% | 4% | 5% | 30% |
| 01 Oct 2019 - 31 Mar 2020 | 08 Jul 2020 | 19 | 88% | 4% | 8% | 24% |
| 01 Apr 2019 - 30 Sep 2019 | 10 Jan 2020 | 19 | 96% | 2% | 2% | 32% |
| 01 Oct 2018 - 31 Mar 2019 | 14 Jun 2019 | 17 | 88% | 12% | 1% | 55% |
| 01 Apr 2018 - 30 Sep 2018 | 17 Dec 2018 | 22 | 86% | 8% | 5% | 43% |
Company Summary
SKILLS AND WORK SOLUTIONS LIMITED is a company that offers a range of services and training programs to help individuals and businesses improve their skills and ultimately achieve their goals
The company is committed to sustainability and offers sustainable solutions to its clients
The company's sustainability program includes initiatives such as promoting responsible and sustainable business practices, reducing carbon footprint, and using eco-friendly materials in its operations
It also works towards creating a positive impact on the environment and society
SKILLS AND WORK SOLUTIONS LIMITED offers a variety of services including training and development programs, career coaching, and business consulting
These services are tailored to meet the specific needs of clients, whether they are individuals looking to enhance their skills or businesses seeking to improve their operations
The company is led by a team of experienced and qualified professionals who are dedicated to providing high-quality services and creating a positive impact in the community
The key people of the company include the managing director, operations manager, and training coordinator
The registered office address of SKILLS AND WORK SOLUTIONS LIMITED is 10-12 High Street, Lutterworth, Leicestershire, LE17 4AD
The company's website is www.skillsandworksolutions.co.uk, where clients can find more information about the company and its services
They can also contact the company through email at info@skillsandworksolutions.co.uk or by phone at +44 (0) 1455 558 819
In summary, SKILLS AND WORK SOLUTIONS LIMITED is a sustainable company that offers a range of services to help individuals and businesses improve their skills and achieve their goals
With a commitment to sustainability and a team of dedicated professionals, the company continues to make a positive impact in the community
Company Review
Trend Analysis
The data shows that from 2018 to 2022, there has been a general decrease in the average time taken for SKILLS AND WORK SOLUTIONS LIMITED to pay invoices to their suppliers. This trend can also be seen in the increase in the percentage of invoices paid within 30 days and the decrease in the percentage of invoices paid later than 60 days. However, there was a slight increase in the average time to pay and the percentage of invoices paid later than 60 days in 2022 compared to 2021.
Volatility Analysis
There has been some volatility in the data for SKILLS AND WORK SOLUTIONS LIMITED. The average time to pay has fluctuated between 9 and 22 days, with the lowest being in 2021 and the highest in 2018. The percentage of invoices paid within 30 days has also varied between 86% and 96%, with the highest being in 2019 and the lowest in 2022. The highest percentage of invoices paid later than 60 days was in 2018 at 8%, while the lowest was in 2021 at 3%.
Summary Analysis
From 2018 to 2022, there has been a 50% decrease in the average time taken for SKILLS AND WORK SOLUTIONS LIMITED to pay invoices to their suppliers. This can be seen in the decrease in the average time to pay from 22 days in 2018 to 11 days in 2022. Additionally, there has been an overall improvement in the percentage of invoices paid within 30 days, increasing from 86% in 2018 to 92% in 2022. The company has also improved in paying invoices within the agreed terms, with a decrease from 43% in 2018 to 14% in 2022. The worst period for SKILLS AND WORK SOLUTIONS LIMITED was in 2018, where 8% of invoices were 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
Our standard payment terms are 30 days from the date of invoice.
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
The business would notify the supplier by telephone or email (providing the invoice number in question) of the dispute so resolution can be made and a credit note raised if applicable by the supplier. The invoice would not be approved by the business if it is in dispute thus preventing it from being paid.
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?
❌
