SLATER GORDON UK 1 LIMITED
Company Information
- Company Number
- 07895497
- Registered Address
- First Floor, Lee House, 90 Great Bridgewater Street, Manchester, United Kingdom, M1 5JW
- Status
- Active
- Employee Count
- 1062.0
- Turnover
- 51447000.0
- EBITDA
- 23711000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 3 January 2012
- Nature of Business
- 70100 - Activities of head offices
- Industries
- Professional Services
- Region
- North West
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 | 02 Feb 2024 | 178 | 48% | 29% | 23% | 48% |
| 01 Jan 2023 - 30 Jun 2023 | 08 Aug 2023 | 78 | 47% | 27% | 26% | 52% |
| 01 Jul 2022 - 31 Dec 2022 | 23 Mar 2023 | 98 | 21% | 30% | 49% | 79% |
| 01 Jan 2022 - 30 Jun 2022 | 30 Jul 2022 | 104 | 23% | 24% | 53% | 76% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 43 | 22% | 44% | 33% | 69% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 44 | 43% | 40% | 17% | 54% |
Company Summary
SLATER & GORDON (UK) 1 LIMITED is a leading law firm in the UK, providing legal services to individuals and businesses
The company has a strong focus on sustainability and is committed to making a positive impact on the environment and society
Their sustainability program includes initiatives such as reducing their carbon footprint, promoting recycling and waste reduction, and supporting local communities through charitable donations and pro bono work
The company offers a wide range of legal services, including personal injury claims, family law, employment law, and commercial law
They have a team of highly experienced solicitors who work tirelessly to provide their clients with the best legal solutions
The key people at SLATER & GORDON (UK) 1 LIMITED include John Somerville, the Managing Director, and Emma Hopkins, the Director of Legal Operations
Both of them have extensive experience in the legal industry and are committed to providing high-quality services to their clients
For more information on their services and sustainability program, interested individuals can visit their website at www.slatergordon.co.uk
The registered office address of the company is 58 Mosley Street, Manchester, M2 3HZ
Company Review
Trend Analysis
The average time for SLATER & GORDON (UK) 1 LIMITED to pay invoices has fluctuated over the past three periods. It decreased from 44 days in the first period to 43 days in the second period, but then increased significantly to 104 days in the third period. It then slightly decreased to 98 days in the fourth period, before dropping to 78 days in the fifth period. However, it increased again to 178 days in the sixth and most recent period.
Volatility Analysis
The volatility of SLATER & GORDON (UK) 1 LIMITED's payment practices can be seen in the significant changes in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. In the first period, 43% of invoices were paid within 30 days, 40% were paid between 31 and 60 days, and 17% were paid later than 60 days. These percentages then fluctuated in the following periods, with the highest percentage of invoices paid later than 60 days being 53% in the third period and the lowest being 23% in the fifth period. However, in the most recent period, the percentage of invoices paid later than 60 days increased again to 49%, indicating a high level of volatility in SLATER & GORDON (UK) 1 LIMITED's payment practices.
Summary Analysis
For SLATER & GORDON (UK) 1 LIMITED, the average time to pay invoices decreased slightly from 44 days in the first period to 43 days in the second period. However, it then increased significantly to 104 days in the third period, indicating a major change. This trend continued in the fourth period, with an average time to pay of 98 days, before decreasing to 78 days in the fifth period. In the most recent period, the average time to pay increased again to 178 days, highlighting a major change. The percentage of invoices paid within 30 days also decreased from 43% in the first period to 22% in the second period, before increasing to 48% in the sixth period. The highest percentage of invoices paid within 30 days was 48% in the sixth period, indicating an improvement towards early payment. The worst period for SLATER & GORDON (UK) 1 LIMITED in terms of late payments was the third period, where 53% of invoices were 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
Historically, Slater & Gordon (UK1)’s standard payment terms have been 30 days from invoice receipt to payment, but this has varied from 7 days to 90 days on some contractual arrangements and was not explicitly defined in others. Further the terms applied depended on the nature of the Products and Services provided. In 2017 SG (UK1) took the decision to transition to 45 day payment terms on new contracts and to request suppliers to extend payment terms to 45 days on contracts due for renewal, typically at contract anniversary. This is an on-going process which due to Covid impact on the business, is still underway. Whilst 45 days will be the business standard term there will be exceptions where there is commercial benefit to both parties in agreeing alternative terms.
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
90
Dispute Resolution Process
If a payment dispute arises it is referred to the budget holder, who would normally manage the supply relationship on a day to day basis. In instances, this responsibility is delegated to a member of the relevant department/team. Payment disputes will be escalated in accordance the contractual terms which vary by supply/service. If necessary, the budget holder will request the advice/support of the Procurement & Commercial team who are experienced in dealing with the commercial management of suppliers and may have been a party to the original agreement.
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