ERNST YOUNG EMEIA SERVICES LIMITED
Company Information
- Company Number
- 06613918
- Registered Address
- 1 More London Place, London, England, SE1 2AF
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 2177369000.0
- EBITDA
- 2361000.0
Additional Details
- Website
- https://ey.com
- Company Type
- Private limited Company
- Incorporated On
- 6 June 2008
- Nature of Business
- 69201 - Accounting and auditing activities$82990 - Other business support service activities not elsewhere classified
- Industries
- Financial Services
- Region
- London
Company Location
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 | 31 Jan 2024 | 80 | 21% | 39% | 40% | 86% |
| 01 Jan 2023 - 30 Jun 2023 | 08 Sept 2023 | 209 | 21% | 25% | 54% | 86% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 209 | 21% | 25% | 54% | 86% |
| 01 Jul 2022 - 31 Dec 2022 | 25 Jan 2023 | 106 | 29% | 31% | 40% | 79% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 116 | 17% | 30% | 53% | 85% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 132 | 29% | 29% | 43% | 65% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 219 | 27% | 21% | 52% | 63% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 206 | 23% | 19% | 58% | 84% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 130 | 26% | 20% | 54% | 72% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 106 | 28% | 24% | 48% | 71% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 171 | 25% | 17% | 58% | 85% |
| 30 Jun 2018 - 28 Dec 2018 | 25 Jan 2019 | 151 | 25% | 18% | 57% | 75% |
| 03 Jan 2018 - 29 Jun 2018 | 25 Jul 2018 | 109 | 33% | 18% | 49% | 75% |
| 01 Jul 2017 - 31 Dec 2017 | 29 Jan 2018 | 136 | 35% | 13% | 52% | 83% |
Company Summary
ERNST & YOUNG (EMEIA) SERVICES LIMITED is a multinational professional services firm that provides a wide range of services including assurance, tax, consulting, and advisory services
The company operates in the Europe, Middle East, India and Africa (EMEIA) region and is a subsidiary of Ernst & Young Global Limited
As a leading professional services firm, Ernst & Young offers its clients a range of sustainable solutions to help them grow and succeed in a rapidly changing business environment
The company is committed to promoting sustainability and responsible business practices through its operations, products and services
The company's sustainability program focuses on reducing its environmental footprint, promoting diversity and inclusivity, and fostering a culture of ethical and responsible business practices
Ernst & Young also works closely with its clients to help them achieve their sustainability goals and integrate sustainable practices into their business operations
Some of the key services offered by Ernst & Young include financial auditing, tax planning and compliance, risk management, and business consulting
The company also offers specialized services in areas such as cybersecurity, digital transformation, and sustainability reporting
The key people at Ernst & Young (EMEIA) Services Limited include the Chairman and CEO, Jean-Pierre Letartre, and the Managing Partner for EMEIA, Hywel Ball
The company has over 300,000 employees worldwide, including a team of experienced and skilled professionals in the EMEIA region
The registered office address for Ernst & Young (EMEIA) Services Limited is 1 More London Place, London, SE1 2AF, United Kingdom
The company's website, www.ey.com, provides detailed information about its services, sustainability efforts, and contact information for various offices in the EMEIA region
Company Review
Trend Analysis
The average time for ERNST & YOUNG (EMEIA) SERVICES LIMITED to pay invoices has fluctuated over the past three periods. It increased from 109 days in the first period to 171 days in the second period, but then decreased to 106 days in the third period.
Volatility Analysis
The volatility of the average time to pay for ERNST & YOUNG (EMEIA) SERVICES LIMITED has also been relatively high, with a range of 125 days (from 106 days to 231 days) over the past three periods.
Summary Analysis
From the data provided, we can see that ERNST & YOUNG (EMEIA) SERVICES LIMITED has had some changes in their payment practices over the past three periods. In the first period, they had an average time to pay of 136 days, with 35% of invoices being paid within 30 days and 52% being paid later than 60 days. This improved slightly in the second period, with an average time to pay of 109 days and 33% of invoices being paid within 30 days. However, in the third period, their average time to pay increased to 151 days and only 25% of invoices were paid within 30 days, with 57% being paid later than 60 days.
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 with 3rd party suppliers 60 days with the exception of the following (where the payment period is 45 days): hotel framework agreements, agreements for the purchase of physical hardware, agreements for the purchase of original equipment from manufacturers and standard purchase orders for the purchase of on-premise software and hosted software. With respect to contracts with 3rd party suppliers the payment period commences from receipt of a proper invoice. Our standard hotel framework agreements (typically used for large hotel chains where we hold employee and client events) additionally provides for: (i) the supplier to deliver a draft invoice which we have 15 days to dispute, (ii) once we sign off on the draft invoice, the supplier may submit a final invoice, and (ii) we have 30 days from receipt to pay the final invoice With respect to intra-EY network contracts, we may provide various services to other firms within the wider EY network (“EY Firm(s)”) and EY Firm(s) may provide various services to us. Our standard payment terms require EY Firm(s) to submit invoices to us quarterly in arrears. Such invoices are payable 30 days after invoice receipt. Any undisputed amounts owed to EY Firm(s) may be set off against amounts owed by EY Firm(s) to us.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
As required, our statistics include figures for payments to external “3rd party” suppliers and payments made under intra-EY network contracts to other firms within the wider EY network (“EY Firm(s)”). Accordingly our statistics are not a fair and accurate reflection of our figures so far as they relate to our 3rd party suppliers. If only payments to external 3rd party suppliers are considered then our average time to pay is reduced to 38 days and 86% of invoices paid in the reporting period are settled within 60 days of receipt. If we were to report solely on our payments to our external 3rd party suppliers, our statistics would be as follows: Average Time to pay in days Percentage of invoices paid in 0 - 30 days - 50% Percentage of invoices paid in 31 - 60 days - 37% Percentage of invoices paid on or after 61 days - 14% % Payments due in the reporting period not paid within the agreed period - 47%
Maximum contractual payment period agreed
60
Dispute Resolution Process
With respect to contracts with 3rd party suppliers (as opposed to contracts with other members of the EY network), the general position is that the appointed service managers (and, if applicable, senior service managers) for each party first attempt to resolve the dispute. If the service managers cannot resolve the dispute and both parties agree the dispute may be referred to mediation. If either party does not agree with the dispute being resolved by mediation then disputes are referred to arbitration. The exceptions to this process are: (i) standard agreements for the purchase of physical hardware and agreements for the purchase of original equipment from manufacturers, which agreements do not include the mediation step and (ii) standard purchase orders for technology services which purchase orders are simply subject to the exclusive jurisdiction of the English courts to resolve disputes and do not include the service manager resolution or the mediation steps, or provisions for arbitration. With respect to intra-EY network contracts, disputes are first referred to mediation by the area operating executive of the Europe, Middle-East, India and Africa network of EY Firms. If the area operating executive fails to negotiate a mutually acceptable settlement then the dispute is referred to mediation by the global executive of Ernst & Young Global Limited. If the global executive fails to negotiate a mutually settlement, disputes are finally settled by arbitration.
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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available