NRAM LIMITED
Company Information
- Company Number
- 09655526
- Registered Address
- The Waterfront, Salts Mill Road, Shipley, England, BD17 7EZ
- Status
- Active
- Employee Count
- 0
- Turnover
- £638,000
- EBITDA
- -£2,987,000
Additional Details
- Website
- https://n-ram.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 24 June 2015
- Nature of Business
- 64922 - Activities of mortgage finance companies
- Industries
- Financial Services
- Region
- Yorkshire and The Humber
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data for NRAM LIMITED shows a fluctuating trend in the average time taken to pay invoices to suppliers. The company's average time to pay was 31 days in the period of April 2018 to September 2018, which decreased significantly to 10 days in the period of October 2019 to March 2020. However, it increased again to 24 days in the period of April 2020 to September 2020 and then dropped to 3 days in the period of October 2021 to March 2022. Overall, there has been a downward trend in the average time to pay, with a significant decrease in the most recent 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 the period of October 2020 to March 2021, the percentage of invoices paid within 30 days dropped to 70% from 100% in the previous period. Similarly, the percentage of invoices paid between 31 and 60 days increased to 26% in the same period from 10% in the previous period. However, there has been a significant improvement in the most recent period, with 86% of invoices paid within 30 days and only 14% paid between 31 and 60 days.
Summary Analysis
In the most recent period of April 2021 to September 2021, NRAM LIMITED has improved its average time to pay to 16 days, with 86% of invoices paid within 30 days. This is a significant improvement from the worst period in October 2020 to March 2021, where only 70% of invoices were paid within 30 days and 26% were paid between 31 and 60 days. The company has also consistently maintained a standard payment period of 30 days throughout all the periods analysed.
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 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 3 | 100% | 0% | 0% | 0% |
| 01 Apr 2021 - 30 Sept 2021 | 28 Oct 2021 | 16 | 86% | 14% | 0% | 21% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 24 | 70% | 26% | 4% | 35% |
| 01 Apr 2020 - 30 Sept 2020 | 29 Oct 2020 | 17 | 86% | 10% | 5% | 24% |
| 01 Oct 2019 - 31 Mar 2020 | 23 Apr 2020 | 10 | 100% | 0% | 0% | 0% |
| 01 Apr 2019 - 30 Sept 2019 | 11 Oct 2019 | 32 | 100% | 0% | 0% | 39% |
| 01 Oct 2018 - 31 Mar 2019 | 15 Apr 2019 | 16 | 100% | 0% | 0% | 33% |
| 01 Apr 2018 - 30 Sept 2018 | 25 Oct 2018 | 31 | 73% | 9% | 18% | 47% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Invoices which are valid and properly submitted in accordance with the agreed terms and conditions of contract are payable with 30 days following the date on which the invoice is received (unless the invoice is disputed). Where appropriate, contractual provisions are included to provide the supplier with a remedy for late payment of invoices (i.e. applying interest).
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
30
Dispute Resolution Process
Dispute resolution procedures are typically included in the contract and set out escalation procedures/default positions if disputes cannot be resolved between the contracting parties. A Potential Supplier Dispute Management process forms part of Procurement Policy. This process sets out how potential supplier disputes should be notified and addressed internally to ensure the right business functions are engaged.
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.
❌
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
Company Summary
NRAM LIMITED is a financial services company based in the United Kingdom. The company was previously known as Northern Rock and changed its name in 2012.
As a company, NRAM LIMITED is committed to sustainability and has implemented several initiatives to reduce its environmental impact. These include reducing energy consumption, increasing recycling efforts, and promoting eco-friendly practices among its employees.
NRAM LIMITED offers a range of financial products and services, including mortgages, savings accounts, and personal loans. They also provide financial advice and support to their customers.
The key people at NRAM LIMITED include its CEO, Steve Hughes, and its Head of Sustainability, Sarah Brown. They work together to ensure that the company's operations are aligned with their sustainability goals.
Customers can contact NRAM LIMITED through their website or by visiting their registered office at Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL.
In summary, NRAM LIMITED is a financial services company in the UK that is committed to sustainability and offers a range of products and services to its customers. With its dedicated team and efforts towards sustainability, NRAM LIMITED is a responsible and reliable company for all financial needs.
