THE ROYAL ACADEMY OF ARTS
Company Information
- Company Number
- 06298947
- Registered Address
- Burlington House, Piccadilly, London, W1J 0BD
- Status
- Active
- Employee Count
- 287
- Turnover
- £43,830,000
- EBITDA
- £10,415,000
Additional Details
- Company Type
- Private Limited Company by guarantee without share capital use of 'Limited' exemption
- Incorporated On
- 2 July 2007
- Nature of Business
- 91020 - Museums activities
- Industries
- Creative,Media And Publishing,Lifestyle And Entertainment
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 Sept 2024 - 28 Feb 2025 | 24 Mar 2025 | 15 | 97% | 2% | 1% | 44% |
| 01 Sept 2023 - 29 Feb 2024 | 27 Mar 2024 | 12 | 97% | 3% | 0% | 51% |
| 01 Mar 2023 - 31 Aug 2023 | 29 Sept 2023 | 18 | 95% | 2% | 3% | 43% |
| 01 Sept 2022 - 28 Feb 2023 | 27 Mar 2023 | 14 | 96% | 3% | 1% | 34% |
| 01 Mar 2022 - 31 Aug 2022 | 30 Sept 2022 | 19 | 96% | 2% | 2% | 31% |
| 01 Sept 2021 - 28 Feb 2022 | 17 Mar 2022 | 14 | 96% | 3% | 1% | 36% |
| 01 Mar 2021 - 31 Aug 2021 | 29 Sept 2021 | 18 | 95% | 3% | 2% | 33% |
| 01 Sept 2020 - 28 Feb 2021 | 25 Mar 2021 | 18 | 95% | 2% | 3% | 41% |
| 01 Mar 2020 - 31 Aug 2020 | 17 Sept 2020 | 21 | 83% | 12% | 5% | 36% |
| 01 Sept 2019 - 29 Feb 2020 | 17 Sept 2020 | 24 | 84% | 12% | 4% | 42% |
| 01 Sept 2018 - 31 Aug 2019 | 01 Oct 2019 | 22 | 81% | 16% | 3% | 56% |
| 01 Sept 2018 - 28 Feb 2019 | 29 Mar 2019 | 24 | 79% | 16% | 5% | 53% |
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
On presentation of a correct invoice quoting the purchase order number and confirming that the contract has been performed, the Royal Academy shall pay the invoice amount to the supplier. Payment will normally be made within 30 days of receipt of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Dispute Resolution Process
Dependent on contractual terms, process may involve relevant Department Heads as well as the Legal Department.
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
The Royal Academy of Arts is a prestigious institution located in London, United Kingdom. It was founded in 1768 and is one of the oldest art academies in the world. The academy's mission is to promote the appreciation and understanding of art and to support artists in their creative endeavors.
One of the key activities of the Royal Academy of Arts is its exhibitions, which showcase a wide range of art forms from traditional to contemporary. These exhibitions are open to the public and attract visitors from all over the world. The academy also offers educational programs, lectures, and workshops for both adults and children.
In addition to promoting art, the Royal Academy of Arts also has a strong commitment to sustainability. The academy has implemented various initiatives to reduce its environmental impact, such as using renewable energy sources, reducing waste, and promoting sustainable practices in its operations. They also have a Sustainability Policy in place to guide their future actions in this area.
The academy's products and services include a wide range of art-related merchandise, including books, prints, and gifts. These can be purchased both online and at their physical store located in the academy building. The academy also offers memberships, which provide exclusive access to exhibitions, events, and discounts on products.
Some key people associated with the Royal Academy of Arts include the President, currently Christopher Le Brun, and the Chief Executive, Axel Rüger. The academy also has a board of trustees, which includes prominent figures from the art world and business.
Contact information for the Royal Academy of Arts can be found on their website, www.royalacademy.org.uk. Their registered office address is Burlington House, Piccadilly, London, W1J 0BD, United Kingdom.
In conclusion, the Royal Academy of Arts is a renowned institution that promotes art and supports artists. With its commitment to sustainability and a wide range of products and services, it continues to be a leading force in the art world.
