GROSVENOR CASINOS GC LIMITED
Company Information
- Company Number
- 08306157
- Employee Count
- 1249.0
- Turnover
- 89579000.0
- EBITDA
- -15354000.0
Additional Details
- Website
- https://grosvenorcasinos.com
- Industries
- Lifestyle And Entertainment
- Region
- South East
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 | 30 Jan 2024 | 29 | 70% | 24% | 6% | 58% |
| 01 Jan 2023 - 30 Jun 2023 | 29 Jul 2023 | 33 | 71% | 22% | 7% | 47% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 35 | 66% | 21% | 13% | 75% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 37 | 62% | 23% | 15% | 80% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 49 | 49% | 31% | 20% | 51% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 35 | 54% | 31% | 15% | 46% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 32 | 53% | 38% | 9% | 47% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 26 | 72% | 19% | 9% | 28% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 37 | 46% | 46% | 8% | 54% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 39 | 42% | 47% | 11% | 58% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 84 | 18% | 26% | 56% | 82% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 20 | 77% | 16% | 7% | 23% |
| 01 Jul 2017 - 31 Dec 2017 | 16 Jan 2018 | 29 | 76% | 23% | 1% | 24% |
Company Summary
GROSVENOR CASINOS (GC) LIMITED is a UK-based company that operates a chain of casinos across the country
The company is committed to ensuring a sustainable business model and has implemented various initiatives to reduce its impact on the environment
The company offers a range of products and services, including table games, slot machines, and electronic roulette
They also have a loyalty program for their customers called "Play Points" where members can earn points and redeem them for rewards
GC Limited is led by a team of experienced professionals, including their Managing Director, Jonathon Swaine
They also have a dedicated team for responsible gambling and support various charities and organizations that promote responsible gambling
In terms of sustainability, GC Limited has set targets to reduce their energy consumption and carbon emissions
They have also implemented recycling programs, use energy-efficient equipment, and promote sustainable practices among their employees
The company's website, www.grosvenorcasinos.com, provides information about their products and services, as well as their sustainability efforts
Their registered office address is Rank Group, TOR, Saint-Cloud Way, Maidenhead, Berkshire, SL6 8BN
Company Review
Trend Analysis
The data for Grosvenor Casinos (GC) Limited shows an overall trend of improvement in the time taken to pay invoices to suppliers. From 2017 to 2018, there was a significant decrease in the average time to pay, from 29 days to 20 days. However, there was a slight increase in 2019, before decreasing again in 2020 and 2021. The trend seems to be continuing in 2022, with a slight decrease in the average time to pay compared to the previous period.
Volatility Analysis
The data also shows a high level of volatility in the percentage of invoices paid within 30 days and between 31 and 60 days. In 2018, there was a significant increase in the percentage of invoices paid within 30 days, but this dropped in 2019 before increasing again in 2020. The percentage of invoices paid between 31 and 60 days also fluctuated, with a high of 56% in 2018 and a low of 19% in 2020. This shows that the company's payment practices have not been consistent over the years.
Summary Analysis
Looking back at the last three periods, there has been a significant improvement in the time taken to pay invoices for Grosvenor Casinos (GC) Limited. In 2020, there was a decrease in the average time to pay, with a further decrease in 2021. The company has also consistently paid the majority of their invoices within 30 days, with a peak of 77% in 2018. However, there was a spike in the percentage of invoices paid later than 60 days in 2018, reaching 56%. This shows that the company has made improvements in their payment practices, but there is still room for further improvement.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The majority of Rank’s suppliers are set to 30 days payment terms which is stipulated within the market tenders inviting commercial proposals, although some suppliers provide longer payment terms as part of the formal negotiation to provide a more attractive commercial model. Any payment terms less than 30 days must be agreed in advance with the Rank’s Senior Finance Leadership team.
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
Purchase orders are raised for the majority of purchases to an approved Rank supplier. Contact details of the person raising the purchase order are given to the supplier on the purchase order. This would normally be the first point of contact for a supplier to resolve a payment dispute. The purchase order also includes terms and conditions of purchase. Section 6.3 under Payment states "If the buyer (Rank) fails to make any payment due to the seller under the contract by the due date for payment then the buyer shall pay interest on the overdue amount at the rate of 2% per annum above the National Westminster Bank Plc's base rate. Such interest shall accrue on a daily basis from the due date until the actual payment whether before or after judgement. This clause does not apply to payments that the buyer disputes in good faith". Rank would normally advise a supplier if there was an issue with goods or services delivered and request a credit note. If this was disputed by the supplier, then again the person that raised the PO would normally negotiate this directly.
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