ADMIRAL LAW LIMITED
Company Details
Registration Number
08023665
Registered Address
Ty Admiral David Street Cardiff United Kingdom CF10 2EH
Company Status
Active
Employee Count
475
Turnover
£15,700,000
EBITDA
£-8,436,000
Additional Information
Website
admirallaw.co.uk/Company Type
Private limited Company
Incorporated on
10 April 2012
Nature of Business (SIC)
69102 - Solicitors
Industries
Legal services
Region
WalesCompany Location
Financial Overview
£936,000
£24,987,000
Last Reporting Period
Filed
30 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
582 days
Payment Periods
Shortest
0 days
Longest
30 days
Max Contractual
1095 days
Payment Timeline
Not Paid Within Terms
2%
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 | 582 | 3% | 2% | 95% | 2% |
| 01 Jan 2023 - 30 Jun 2023 | 13 Jul 2023 | 703 | 4% | 1% | 95% | 2% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 778 | 6% | 1% | 93% | 2% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 21 | 85% | 10% | 5% | 15% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 34 | 50% | 43% | 7% | 51% |
| 01 Jan 2021 - 30 Jun 2021 | 31 Dec 2021 | 33 | 71% | 20% | 9% | 32% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jul 2022 | 52 | 48% | 35% | 17% | 57% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2022 | 83 | 36% | 22% | 42% | 69% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jul 2022 | 52 | 38% | 39% | 23% | 74% |
| 01 Jan 2019 - 30 Jun 2019 | 27 Jul 2022 | 41 | 55% | 31% | 14% | 54% |
| 01 Jul 2018 - 31 Dec 2018 | 27 Jul 2022 | 39 | 52% | 37% | 11% | 68% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2022 | 41 | 62% | 27% | 11% | 60% |
Company Summary
ADMIRAL LAW LIMITED is a UK-based law firm that offers a wide range of legal services to individuals and businesses
The company was founded in 2013 and has since established itself as a leading player in the legal industry
The firm's sustainability program is centered around reducing their carbon footprint and promoting environmental responsibility
They have implemented various initiatives such as recycling, energy-efficient practices, and using sustainable materials in their office operations
ADMIRAL LAW LIMITED offers a variety of products and services, including personal injury claims, employment law, family law, and commercial law
They also have a dedicated team that specializes in insurance law and handles claims for their clients
The key people at ADMIRAL LAW LIMITED include their Managing Director, Andrew Davies, and their Head of Legal Practice, Helen Wood
Both of them have extensive experience in the legal field and lead a team of highly skilled lawyers
The company's website address is https://www.admirallaw.co.uk/ and their registered office address is Ty Admiral, David Street, Cardiff, CF10 2EH
They also have offices in London, Manchester, and Newport, providing their services to clients across the UK
In summary, ADMIRAL LAW LIMITED is a reputable law firm in the UK, known for its commitment to sustainability and providing high-quality legal services to their clients
Their team of experienced professionals, range of services, and dedication to environmental responsibility make them a top choice for legal assistance
Company Review
Trend Analysis
The average time taken for ADMIRAL LAW LIMITED to pay invoices has fluctuated over the past three periods. In the first period (2018-2019), the average time to pay was 41 days, which decreased to 33 days in the most recent period (2021-2022). However, there was a significant increase in the second period (2019-2020) where the average time to pay was 83 days.
Volatility Analysis
The volatility in ADMIRAL LAW LIMITED's payment practices can be seen through the fluctuation in the percentage of invoices paid within 30 days. In the first period (2018-2019), 62% of invoices were paid within 30 days, which decreased to 38% in the most recent period (2022-2023). The second period (2019-2020) saw a sharp decrease to 36% of invoices paid within 30 days.
Summary Analysis
In the past three periods, ADMIRAL LAW LIMITED has shown a decrease in the average time taken to pay invoices. The percentage of invoices paid within 30 days has also decreased, with a significant decrease in the second period (2019-2020). However, there has been an improvement in the percentage of invoices paid between 31 and 60 days in the most recent period (2022-2023).
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Admiral Law's standard practice is to pay trade purchase ledger suppliers within 30 days of receipt of a valid and accurate VAT invoice (unless a different payment period is specifically agreed with a particular supplier) provided we are satisfied that the goods or services have been delivered or performed in accordance with the agreement with that supplier. In addition to trade suppliers, Admiral Law also incurs professional disbursements (including counsel fees) in relation to legal cases undertaken on behalf of clients, and the majority of these invoices are subject to extended credit terms. Admiral Law’s policy is to pay these invoices within five business days of receipt of funds, in accordance with the firm's policy in relation to the Solicitors Regulation Authority (SRA) Accounts Rules, or within the terms agreed with the supplier, whichever is sooner. Prior to the H2 2022 return, Admiral Law did not include disbursement invoices in its Payment Practice Reports. Inclusion of disbursement invoices results in a significant increase in the average time to pay invoices and in the proportion of payments appearing in the "61 days or more" category. The summary below represents the payment practices metrics excluding professional disbursements invoices. Metrics excluding professional disbursement invoices: Average time taken to pay invoices : 25 Days Invoices Paid: within 30 days: 85% in 31 to 60 days: 8% in 61 days or more: 7%
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
1095
Dispute Resolution Process
Material disputes relating to payments with our suppliers are very rare as we will have agreed cost and payment terms prior to the goods being delivered or services being performed. Any disputes or other queries are raised and discussed with the supplier (by the relevant contact in the Admiral Law operational or finance team) with the intention of resolving the dispute or query promptly and to the satisfaction of both parties.
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?
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