CULT BEAUTY LIMITED
Company Information
- Company Number
- 06195011
- Registered Address
- Icon 1 7-9 Sunbank Lane, Ringway, Altrincham, United Kingdom, WA15 0AF
- Status
- Active
- Employee Count
- 98
- Turnover
- £154,615,000
- EBITDA
- £4,129,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 30 March 2007
- Nature of Business
- 47910 - Retail sale via mail order houses or via Internet
- Industries
- Healthcare And Wellbeing,Supply Chain,Manufacturing And Commerce Models
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time for CULT BEAUTY LIMITED to pay invoices has fluctuated over the past four periods, with a slight increase in the most recent period. The percentage of invoices paid within 30 days has decreased in the past two periods, while the percentage of invoices paid between 31 and 60 days has increased. The most significant change has been in the percentage of invoices paid later than 60 days, which has increased from 41% to 55% in the past two periods.
Volatility Analysis
The volatility in CULT BEAUTY LIMITED's payment patterns can be seen in the significant changes in the percentage of invoices paid within 30 days and invoices paid later than 60 days. The company has also shown inconsistency in meeting agreed payment terms, with a high of 84% of invoices not being paid within terms in the most recent period.
Summary Analysis
From the data provided, it can be seen that CULT BEAUTY LIMITED's average time to pay has increased slightly from 58 days to 67 days in the past two periods. The company has also shown a decrease in the percentage of invoices paid within 30 days, from 20% to 2%, and an increase in the percentage of invoices paid later than 60 days, from 46% to 55%. This indicates a trend of delayed payments and inconsistent adherence to agreed payment terms.
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 | 08 Feb 2024 | 50 | 11% | 44% | 45% | 84% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Aug 2023 | 67 | 2% | 43% | 55% | 39% |
| 01 Jul 2022 - 31 Dec 2022 | 13 Mar 2023 | 58 | 15% | 44% | 41% | 25% |
| 01 Jan 2022 - 30 Jun 2022 | 05 Aug 2022 | 63 | 20% | 34% | 46% | 22% |
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
Cult Beauty’s standard payment terms are: Stock: Typically 60 days from the end of the month in which a tax invoice is received. Non-stock: Typically 60 days from the end of the month in which a tax invoice is received. The Company trades with a limited number of suppliers on proforma payment terms due to legacy trading arrangements or those relationships established due to acquisition. The Company works flexibly with suppliers to ensure agreed terms are acceptable for both parties.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Please note, the Cult Beauty PPPR statistics are based on approx. 100 transactions only.
Maximum contractual payment period agreed
60
Dispute Resolution Process
Supplier queries and disputes are to be sent to the Accounts Payable department at the following email addresses: Stock - APSupplierServices@thehutgroup.com, Non-stock - OHinvoices@thehutgroup.com. Stock suppliers have allocated representatives who will liaise internally with the relevant buying team and/or warehouse in order to resolve the query. Non-stock suppliers’ queries and disputes are dealt with by a dedicated ‘Overheads’ team. Emails are usually responded to within two working days. If disputes cannot be resolved by the Accounts Payable department they are escalated within the business as appropriate.
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
CULT BEAUTY LIMITED is a British online retailer of luxury beauty products. The company was founded in 2008 and is based in London, England.
The company offers a wide range of high-end beauty products from various brands, including skincare, makeup, haircare, and fragrances. They also have their own line of branded products under the name "Cult Beauty".
In addition to their focus on providing customers with the latest and most sought-after beauty products, CULT BEAUTY LIMITED is also committed to sustainability. They have a sustainability program in place that aims to reduce their environmental impact by using recycled and eco-friendly packaging, promoting ethical and sustainable sourcing of ingredients, and supporting various charitable causes.
The company is led by a team of key people, including Alexia Inge and Jessica DeLuca, who are the co-founders and joint CEOs. They are supported by a team of experts in the beauty industry, ensuring that the products offered by CULT BEAUTY LIMITED are of the highest quality.
Customers can easily access the company's products and services through their website, which also provides information on their sustainability efforts and the brands they carry. Their registered office address is 6th Floor, 52-54 High Holborn, London, WC1V 6RL.
In summary, CULT BEAUTY LIMITED is a well-established online retailer of luxury beauty products, with a strong focus on sustainability. They offer a wide range of high-end beauty products and are led by a team of experienced individuals in the industry. Their commitment to sustainability and charitable causes sets them apart as a socially responsible company.
