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
Website
admiral.comCompany 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£33,770,000
£-2,044,000
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Average Time to Pay
30 days
Payment Periods
Shortest
1 days
Longest
60 days
Max Contractual
60 days
Not Paid Within Terms
43%
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 | 31 Jan 2024 | 30 | 76% | 20% | 4% | 43% |
01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 42 | 42% | 46% | 12% | 75% |
01 Jul 2022 - 31 Dec 2022 | 18 Jan 2023 | 28 | 70% | 25% | 5% | 30% |
01 Jan 2022 - 30 Jun 2022 | 30 Sep 2022 | 28 | 70% | 24% | 6% | 28% |
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
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.
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.
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.
This information is as reported by the business, and responses are in their own words.
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
"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."
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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