BRIGHTSIDE INSURANCE SERVICES LIMITED
Company Information
- Company Number
- 04137311
- Registered Address
- 45 Westerham Road, Bessels Green, Sevenoaks, Kent, United Kingdom, TN13 2QB
- Status
- Active
- Employee Count
- 4.0
- Turnover
- 20040000.0
- EBITDA
- 16000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 8 January 2001
- Nature of Business
- 66220 - Activities of insurance agents and brokers
- Industries
- Financial Services
- Region
- South East
Company Location
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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 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 29 | 58% | 35% | 7% | 19% |
| 01 Jan 2023 - 30 Jun 2023 | 09 Jan 2024 | 38 | 39% | 48% | 13% | 3% |
| 01 Jul 2022 - 31 Dec 2022 | 09 Jan 2024 | 63 | 22% | 47% | 31% | 5% |
Company Summary
BRIGHTSIDE INSURANCE SERVICES LIMITED is a UK-based insurance company that offers a wide range of insurance products and services to individuals and businesses
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact and promote social responsibility
One of the key activities of BRIGHTSIDE INSURANCE SERVICES LIMITED is providing insurance solutions to customers
They offer a variety of insurance plans, including car, home, travel, and business insurance
The company also provides specialized insurance for high-risk individuals and businesses
In addition to their insurance services, BRIGHTSIDE INSURANCE SERVICES LIMITED has a strong focus on sustainability
They have implemented initiatives such as paperless billing, energy-efficient practices, and recycling programs to reduce their carbon footprint
The company also supports various charities and community projects to promote social responsibility
The key people at BRIGHTSIDE INSURANCE SERVICES LIMITED include their CEO, Brendan McCafferty, and their Chairman, Mark Cliff
They have a team of experienced professionals who are dedicated to providing excellent customer service and promoting sustainable practices
To get in touch with BRIGHTSIDE INSURANCE SERVICES LIMITED, individuals can visit their website at www.brightsideinsurance.co.uk
The company's registered office address is Brightside Park, Severn Bridge, Aust, Bristol, BS35 4BL
Customers can also contact them through their customer service hotline at 0330 102 4508
In conclusion, BRIGHTSIDE INSURANCE SERVICES LIMITED is a reputable insurance company in the UK that offers a variety of insurance products and services while also promoting sustainability and social responsibility
Their commitment to sustainability, along with their experienced team and excellent customer service, makes them a top choice for insurance needs
Company Review
Trend Analysis
The average time taken for BRIGHTSIDE INSURANCE SERVICES LIMITED to pay invoices to suppliers has been decreasing over the past three periods, from 63 days in Jul 2022 - Dec 2022 to 29 days in Jul 2023 - Dec 2023. This indicates a positive trend towards faster payment to suppliers.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has decreased over the past three periods, from 22% in Jul 2022 - Dec 2022 to 58% in Jul 2023 - Dec 2023. This suggests a more consistent and timely payment practice by the company.
Summary Analysis
In the last three periods, BRIGHTSIDE INSURANCE SERVICES LIMITED has significantly improved their payment practices, with the average time taken to pay invoices decreasing by 34 days and the percentage of invoices paid within 30 days increasing by 36%. In Jul 2023 - Dec 2023, the company paid 58% of their invoices within 30 days, the highest percentage in the three periods analysed.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 days standard
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
Our purchase ledger team is responsible for identifying and resolving any disputes which may arise between Brightside and our suppliers. If a supplier has a dispute or a complaint, then in the first instance they are to contact the Purchase Ledger team shared inbox for that entity.
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
