ADMIRAL FINANCIAL SERVICES LIMITED

Company Details

Registration Number

10255225

Registered Address

Ty Admiral David Street Cardiff United Kingdom CF10 2EH

Company Status

Active

Employee Count

208

Turnover

£58,819,000

EBITDA

£-685,000

Additional Information

Company Type

Private limited Company

Incorporated on

28 June 2016

Nature of Business (SIC)

64929 - Other credit granting not elsewhere classified

Industries

Loans, debt and grants

Region

Wales

Company Location

Google
Map data ©2025 Google
Map data ©2025 Google

Financial Overview

Cash

£33,770,000

Net Worth

£-2,044,000

Last Reporting Period

Filed

31 Jan 2024

Period

01 Jul 2023 - 31 Dec 2023

Payment Timing

Average Time to Pay

30 days

Payment Periods

Shortest

1 days

Longest

60 days

Max Contractual

60 days

Payment Timeline

Within 30 days76%
31-60 days20%
After 60 days4%

Not Paid Within Terms

43%

Payment Features

Payment Codes
E-Invoicing
Supply Chain Finance

Payment Time Trends

12/31/20236/30/202312/31/20226/30/2022015304560

Payment Distribution Trends

12/31/20236/30/202312/31/20226/30/2022020406080

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20243076%20%4%43%
01 Jan 2023 - 30 Jun 202328 Jul 20234242%46%12%75%
01 Jul 2022 - 31 Dec 202218 Jan 20232870%25%5%30%
01 Jan 2022 - 30 Jun 202230 Sep 20222870%24%6%28%

Company Summary

ADMIRAL FINANCIAL SERVICES LIMITED is a financial services company based in the United Kingdom

The company offers a range of services including insurance, loans, and credit cards

The company has a strong focus on sustainability and has implemented various initiatives to reduce its environmental impact

This includes using renewable energy sources, promoting recycling, and reducing carbon emissions

ADMIRAL FINANCIAL SERVICES LIMITED offers a variety of products and services to its customers

These include car, home, and travel insurance, personal loans, and credit cards

The company also offers a price comparison service to help customers find the best deals on insurance and financial products

The key people at ADMIRAL FINANCIAL SERVICES LIMITED include the CEO, CFO, and other members of the executive team who are responsible for the company's overall strategy and operations

Customers can contact ADMIRAL FINANCIAL SERVICES LIMITED by phone, email, or through their website

The company's registered office address is located in Cardiff, Wales

In summary, ADMIRAL FINANCIAL SERVICES LIMITED is a sustainable financial services company that offers a range of products and services to its customers

With a strong focus on sustainability, the company is committed to reducing its environmental impact while providing excellent financial solutions to its customers

Company Review

Trend Analysis

The average time taken for ADMIRAL FINANCIAL SERVICES LIMITED to pay invoices to suppliers has increased over the three periods analysed, with a significant jump between the first and second period. The percentage of invoices paid within 30 days has remained consistently high at 70%, but there has been a slight decrease in the percentage of invoices paid between 31 and 60 days in the third period. The percentage of invoices paid later than 60 days has also seen a decrease in the third period, which is a positive trend.

Volatility Analysis

The data for ADMIRAL FINANCIAL SERVICES LIMITED shows some volatility in the average time taken to pay invoices, with a significant increase in the third period compared to the first two. The percentage of invoices paid within 30 days and between 31 and 60 days has remained relatively stable, but there has been some fluctuation in the percentage of invoices paid later than 60 days. There is also some volatility in the percentage of invoices not paid within agreed terms, with a sharp increase in the third period.

Summary Analysis

In the first period, ADMIRAL FINANCIAL SERVICES LIMITED had an average time to pay of 28 days, with 70% of invoices paid within 30 days and only 6% paid later than 60 days. In the second period, the average time to pay remained the same at 28 days, but there was a slight decrease in the percentage of invoices paid within 30 days (from 70% to 69%) and an increase in the percentage of invoices paid later than 60 days (from 6% to 7%). In the third period, there was a significant increase in the average time to pay to 42 days, with a decrease in the percentage of invoices paid within 30 days (from 69% to 42%) and an increase in the percentage of invoices paid later than 60 days (from 7% to 12%). Overall, ADMIRAL FINANCIAL SERVICES LIMITED has shown a decrease in early payments and an increase in delayed payments over the three periods analysed.

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 are 30 days

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

"Admiral has a dedicated team to provide support to suppliers and resolve queries before they become disputes. If there is a dispute, the business will contact the relevant vendors and follow up with an email to resolve. We aim to resolve any query raised by a vendor as soon as possible but within 2 working days. In the event that a dispute cannot be initially resolved, Admiral would comply with any relevant contract provisions on dispute resolution. The business conducts periodic reviews on overdue invoices and the performance of the Purchase Ledger team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid in a timely fashion."

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.

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?

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