EQUINITI FINANCIAL SERVICES LIMITED
Company Information
- Company Number
- 06208699
- Registered Address
- Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA
- Status
- Active
- Employee Count
- 182.0
- Turnover
- 55430000.0
- EBITDA
- 18708000.0
Additional Details
- Website
- https://faq.eqi.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 11 April 2007
- Nature of Business
- 64205 - Activities of financial services holding companies
- Industries
- Financial Services,Software
- 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 | 30 Jan 2024 | 27 | 78% | 19% | 3% | 10% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 31 | 71% | 21% | 8% | 17% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 36 | 70% | 20% | 10% | 18% |
| 01 Jun 2022 - 30 Jun 2022 | 28 Jul 2022 | 31 | 71% | 21% | 8% | 23% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 18 | 80% | 10% | 10% | 19% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 20 | 72% | 17% | 11% | 22% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 29 | 70% | 24% | 6% | 23% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 29 | 56% | 39% | 5% | 12% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 38 | 40% | 53% | 7% | 12% |
| 01 Jan 2019 - 30 Jun 2019 | 27 Jul 2019 | 36 | 40% | 59% | 1% | 12% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 40 | 39% | 56% | 5% | 8% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 40 | 37% | 47% | 16% | 37% |
Company Summary
Equiniti Financial Services Limited is a leading financial services company based in the United Kingdom
The company offers a wide range of services including share registration, pension administration, and employee benefits management
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact
This includes investing in renewable energy sources, reducing paper usage, and promoting eco-friendly practices within the organization
Equiniti Financial Services Limited offers a range of products and services to its clients, including online share dealing, share plan management, and pension scheme administration
The company also provides financial advice and guidance to help individuals and businesses make informed decisions about their investments
The key people at Equiniti Financial Services Limited include the CEO, Paul Lynam, and the Chairman, Philip Yea
They lead a team of experienced professionals who are dedicated to providing high-quality financial services to their clients
To contact Equiniti Financial Services Limited, individuals can visit their website at www.equiniti.com or reach out to their registered office at Highdown House, Yeoman Way, Worthing, West Sussex BN99 3HH, United Kingdom
Company Review
Trend Analysis
The trend for EQUINITI FINANCIAL SERVICES LIMITED shows a consistent improvement in their average time to pay invoices since 2018. In 2018, their average time to pay was 40 days, which decreased to 20 days in 2021. This represents a decrease of 50% in their average time to pay over the past three years.
Volatility Analysis
The volatility for EQUINITI FINANCIAL SERVICES LIMITED is relatively low, with their average time to pay remaining within a range of 7 days over the past three years.
Summary Analysis
From 2018 to 2021, EQUINITI FINANCIAL SERVICES LIMITED has shown consistent improvement in paying invoices on time. In 2018, only 37% of their invoices were paid within 30 days, which increased to 80% in 2021. This represents an increase of 43% in invoices paid on time. Additionally, their percentage of invoices paid later than 60 days has consistently decreased over the past three years, from 16% in 2018 to 10% in 2021.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Equiniti Group has a simple approach to supplier payment terms: we have a group standard of 60 days, with the following exceptions: • Client-specific requirements • Individual contractors billing through their own or an umbrella company, all of whom are on 30 day terms • Small suppliers (defined as either low value of annual spend or local businesses (for example caterers, taxi firms), typically on payment terms of 30 or fewer days • Short payment term suppliers (couriers, postage providers)
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
We look to work with our suppliers to ensure our policies and processes are understood and followed to facilitate efficient invoice handling and payment. For example, we request that all invoices are sent in electronically and quote a Purchase Order number as this allows is to track each item and identify and issues using our systems. We run two large payment runs and two smaller runs each month. We typically pay around 80% of any overdue invoices by the time of our next run, meaning the maximum delay is usually less than a week. Anything else paid out of terms tends to be caused either by a supplier dispute that needs concluding or from time to time suppliers needing to provide further documentation to support an invoice.
Maximum contractual payment period agreed
60
Dispute Resolution Process
We review each query as it is raised and look to resolve as quickly as possible.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
