FORMULA ONE MARKETING LIMITED
Company Information
- Company Number
- 05731193
- Registered Address
- No. 2 St. James's Market, London, United Kingdom, SW1Y 4AH
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 414964000.0
- EBITDA
- 279559000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 6 March 2006
- Nature of Business
- 70100 - Activities of head offices$70210 - Public relations and communications activities$93199 - Other sports activities
- Industries
- Professional Services
- Region
- London
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 | 30 Jan 2024 | 21 | 60% | 37% | 3% | 9% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 124 | 19% | 12% | 68% | 20% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 73 | 46% | 13% | 41% | 21% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 36 | 76% | 10% | 14% | 34% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 29 | 70% | 22% | 8% | 18% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 52 | 50% | 16% | 34% | 54% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 51 | 57% | 20% | 23% | 55% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 60 | 34% | 40% | 26% | 64% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 42 | 65% | 17% | 18% | 40% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 33 | 81% | 12% | 7% | 43% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 13 | 86% | 12% | 2% | 44% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 29 | 70% | 17% | 13% | 67% |
Company Summary
Formula One Marketing Limited is a British company that specializes in marketing and promoting the Formula One racing series
The company was founded in 1998 and is headquartered in London, England
One of the main activities of Formula One Marketing Limited is to promote and market the Formula One World Championship, the premier international single-seater racing series
This includes organizing and promoting races, securing sponsorships and partnerships, and managing the commercial aspects of the sport
In recent years, Formula One Marketing Limited has also put a strong emphasis on sustainability
The company has implemented various initiatives to reduce the environmental impact of the sport, such as using sustainable materials in the construction of race tracks and promoting sustainable practices among teams and suppliers
Formula One Marketing Limited offers a range of products and services related to the Formula One racing series
This includes the sale of tickets to races, merchandise, and digital subscriptions to the official Formula One streaming service
The company also offers sponsorship opportunities for businesses looking to reach a global audience through the sport
The key people at Formula One Marketing Limited include Chairman and CEO Chase Carey, Chief Marketing Officer Ellie Norman, and Managing Director of Commercial Operations Sean Bratches
For more information on Formula One Marketing Limited and their activities, products, and services, you can visit their website at www.formula1.com
The company's registered office address is 6 Princes Gate, London, SW7 1QJ, England
Company Review
Trend Analysis
The average time taken for FORMULA ONE MARKETING LIMITED to pay invoices to suppliers has fluctuated over the past three periods. It was 29 days from Jan 2018 to Jun 2018, decreased to 13 days from Jul 2018 to Dec 2018, and increased to 33 days from Jan 2019 to Jun 2019. The trend continued to fluctuate, reaching a high of 73 days in the period from Jul 2022 to Dec 2022, and a low of 21 days in the period from Jul 2023 to Dec 2023.
Volatility Analysis
The volatility of the average time taken for FORMULA ONE MARKETING LIMITED to pay invoices to suppliers has been relatively high, with a range of 103 days from the lowest period of 13 days to the highest period of 116 days.
Summary Analysis
From Jan 2021 to Jun 2021, FORMULA ONE MARKETING LIMITED took an average of 52 days to pay invoices to suppliers. This was a decrease from the previous period (Jul 2020 to Dec 2020) where the average time taken was 51 days. The percentage of invoices paid within 30 days has remained consistent at 70% in both periods. However, there was an increase in the percentage of invoices paid later than 60 days from 20% to 34%, and a decrease in the percentage of invoices not paid within agreed terms from 55% to 54%.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The company's standard contractual payment term for goods and services, when applied, is 30 days, however alternative periods can be agreed through discussion on a vendor by vendor basis. No changes have been made to the company's standard payment terms in the period, albeit agreements with individual vendors can change from time to time based on discussions with the relevant counterparties.
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
All queries are addressed with suppliers by the Accounts Payable team responsible for all Formula 1's UK subsidiaries. The Accounts Payable team seek to resolve queries directly with the suppliers and through liaison with the relevant Formula 1 managers who were responsible for engaging the particular supplier and confirming the receipt, or otherwise, of the relevant goods or services.
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
