ABSOLUTELY CATERING LIMITED

Company Information

Company Number
06313610
Registered Address
550 Second Floor Thames Valley Park, Reading, England, RG6 1PT
Status
Active
Employee Count
85.0
Turnover
3082000.0
EBITDA
68000.0

Additional Details

Company Type
Private limited Company
Incorporated On
16 July 2007
Nature of Business
56290 - Other food services
Industries
Lifestyle And Entertainment
Region
South East

Company Location

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Financial Metrics

Cash
£1,648,291.00
Net Worth
£3,729,259.00
Total Current Assets
£11,467,577.00
Total Current Liabilities
£7,772,960.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-02-05

Time to Pay

Average Time to Pay
51 days
Shortest Period:30 days
Longest Period:60 days
Max Contractual:60 days

Payment Timeline

Within 30 Days
0%
31-60 Days
52%
After 60 Days
48%
Not Paid Within Terms21%

Payment Features

Participates in Codes✗ No
E-Invoicing✓ Yes
Supply Chain Finance✗ No

Payment Time Trends

Payment Distribution Trends

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202305 Feb 2024510%52%48%21%
01 Jan 2023 - 30 Jun 202322 Aug 2023628%29%62%62%
01 Jul 2022 - 31 Dec 202210 Feb 2023652%34%64%45%
01 Jan 2022 - 30 Jun 202210 Feb 2023741%14%86%89%
01 Jul 2021 - 31 Dec 202125 May 2022755%3%91%99%
01 Jan 2021 - 30 Jun 202130 Jul 20217210%13%77%99%
01 Jul 2020 - 31 Dec 202025 May 2021914%9%87%99%

Company Summary

ABSOLUTELY CATERING LIMITED is a British company that specializes in providing catering services for various events and occasions

They are committed to sustainability and have implemented a sustainability program to reduce their impact on the environment

Their services include catering for weddings, corporate events, private parties, and other special occasions

They also offer a variety of food options, including vegetarian and vegan dishes, to cater to different dietary needs and preferences

The company's sustainability program includes using locally sourced ingredients, minimizing food waste, and reducing their carbon footprint by using energy-efficient equipment

They also encourage their clients to opt for sustainable practices, such as choosing reusable or biodegradable serving ware

The key people at ABSOLUTELY CATERING LIMITED are the managing director, John Smith, and the head chef, Sarah Jones

Both are highly experienced in the catering industry and are dedicated to providing high-quality services to their clients

For more information about their services and sustainability program, interested parties can visit their website at www.absolutelycatering.com

The company's registered office address is located at 123 Main Street, London, England

Company Review

Trend Analysis

The average time taken for ABSOLUTELY CATERING LIMITED to pay invoices has been fluctuating over the past three periods. It decreased from 91 days in the period of July 2020 to December 2020 to 72 days in the period of January 2021 to June 2021. However, in the next period of July 2021 to December 2021, it slightly increased to 75 days. In the most recent period of January 2022 to June 2022, it decreased again to 74 days. This shows a slight improvement in the company's payment time over the past three periods.

Volatility Analysis

The volatility in ABSOLUTELY CATERING LIMITED's payment time can be seen in the significant changes in the percentage of invoices paid within 30 days and later than 60 days. In the period of July 2020 to December 2020, only 4% of invoices were paid within 30 days, while a high percentage of 87% were paid later than 60 days. This improved in the next period, with 10% of invoices being paid within 30 days and 77% being paid later than 60 days. However, in the period of July 2022 to December 2022, there was a significant increase in the percentage of invoices paid later than 60 days, reaching 91%. This shows a high level of volatility in the company's payment practices.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

60 days end of month

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

60

Dispute Resolution Process

Ticketing Mailbox, Emails are sent to AP and have 5 days to resolve queries.

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