BRIGHTSIDE GROUP LIMITED
Company Information
- Company Number
- 05941335
- Registered Address
- Markerstudy House, Westerham Road, Sevenoaks, England, TN13 2QB
- Status
- Active
- Employee Count
- 0
- Turnover
- Coming Soon
- EBITDA
- -£14,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 20 September 2006
- Nature of Business
- 64205 - Activities of financial services holding companies70100 - Activities of head offices
- Industries
- Financial Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The data shows that there has been a fluctuation in the average time taken for BRIGHTSIDE GROUP LIMITED to pay invoices to suppliers over the past three periods. In the first period (Jan 2018 - Jun 2018), the average time to pay was 30 days, which decreased to 23 days in the second period (Jul 2018 - Dec 2018). However, in the third period (Jan 2019 - Jun 2019), the average time to pay increased to 30 days again. The fourth period (Jul 2019 - Dec 2019) saw a significant improvement, with the average time to pay decreasing to 20 days. However, in the fifth period (Jan 2020 - Jun 2020), the average time to pay increased to 40 days. The most recent period (Jul 2020 - Dec 2020) saw a slight improvement, with the average time to pay decreasing to 36 days.
Volatility Analysis
The data also shows that there has been volatility in the percentage of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. In the first period, 52% of invoices were paid within 30 days, which decreased to 57% in the second period. However, in the third period, the percentage of invoices paid within 30 days remained the same at 52%. In the fourth period, there was a significant improvement, with 78% of invoices being paid within 30 days. However, in the fifth period, this percentage decreased to 46%. In the most recent period, there was a slight improvement, with 48% of invoices being paid within 30 days.
Summary Analysis
Looking at the past three periods, there has been a decrease in the average time taken for BRIGHTSIDE GROUP LIMITED to pay invoices to suppliers. In the second period (Jul 2018 - Dec 2018), there was a significant improvement, with the average time to pay decreasing to 23 days. However, in the third period (Jan 2019 - Jun 2019), there was an increase back to 30 days. The most significant improvement was seen in the fourth period (Jul 2019 - Dec 2019), with the average time to pay decreasing to 20 days. The most recent period (Jul 2020 - Dec 2020) saw a slight increase in the average time to pay to 36 days, but it is still lower than the first and third periods.
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 2020 - 31 Dec 2020 | 19 Jan 2021 | 36 | 48% | 44% | 8% | 52% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Jul 2020 | 40 | 46% | 40% | 14% | 54% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 20 | 78% | 20% | 2% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 08 Jul 2019 | 30 | 52% | 44% | 4% | 48% |
| 01 Jul 2018 - 31 Dec 2018 | 23 Jan 2019 | 23 | 57% | 26% | 17% | 43% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 30 | 52% | 44% | 4% | 48% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are on a 30 day period. We only have 1 exception to this for one contract, which has been extended to a 45 day period.
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
If invoice or payment is disputed, we contact supplier initially to resolve within 1 day period, an on-going dialogue will continue until achieved. If no resolve is obtained a face to face meeting would take place. A last resort would be to instigate legal proceedings.
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
Company Summary
BRIGHTSIDE GROUP LIMITED is a UK-based insurance broker and financial services provider that offers a range of products and services to its customers. The company was founded in 2005 and is headquartered in Bristol, UK.
The company's primary focus is on providing insurance solutions to individuals and businesses, including motor, home, travel, and commercial insurance. They also offer financial services such as mortgages, loans, and investments.
In terms of sustainability, BRIGHTSIDE GROUP LIMITED has implemented various initiatives to reduce their environmental impact and promote sustainable practices. They have set targets to reduce their carbon emissions and have invested in renewable energy sources. They also encourage their employees to adopt eco-friendly practices and offer incentives for using public transport or cycling to work.
The key people at BRIGHTSIDE GROUP LIMITED include Brendan McCafferty, the CEO, and Mark Cliff, the Chairman. They have a team of experienced and knowledgeable employees who are dedicated to providing high-quality service to their customers.
The company's website is www.brightsidegroup.co.uk, where customers can find information about their products and services, and also request a quote or make a claim. The registered office address is Brightside Park, Severn Bridge, Aust, Bristol, BS35 4BL.
In summary, BRIGHTSIDE GROUP LIMITED is a reputable insurance broker and financial services provider that is committed to sustainability and meeting the needs of their customers. With a strong leadership team and a focus on innovation and customer service, they continue to grow and provide valuable solutions to their clients.
