Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
VIRGIN RED LIMITED generally processes payments within 30 days, with a strong 74% being settled on time. However, 26% of payments are consistently late, indicating a significant portion of invoices experience delays. This trend shows a concerning trajectory where 9% of payments are protracted beyond 60 days, suggesting consistent severe delays for a minority of suppliers.
Despite the average, VIRGIN RED LIMITED exhibits moderate payment volatility, as 26% of payments fall outside the 30-day window. This creates predictability challenges for suppliers, who face a significant risk of delayed cash flow with 17% in the 31-60 day range and 9% severely overdue. Suppliers must therefore account for a notable degree of unreliability in payment timing when engaging with this company.
VIRGIN RED LIMITED presents a mixed payment profile, combining strong on-time performance for most invoices with a substantial segment experiencing significant delays. Suppliers should critically assess their cash flow tolerance for 26% of invoices being paid late, particularly the 9% extending beyond 60 days. To mitigate risk, consider negotiating stricter payment terms, requesting upfront payments for high-value services, and maintaining proactive payment tracking.
| 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 Jan 2025 - 30 Jun 2025 | 31 Jul 2025 | 30 | 74% | 17% | 9% | 23% |
| 01 Jan 2024 - 31 Dec 2024 | 31 Jan 2025 | 27 | 75% | 19% | 6% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is company policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settles trade payables on 30 day terms, from receipt of invoice, however variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our accounts payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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
Virgin Red Limited is a private limited company incorporated in 2018, previously registered as Virgin Group Loyalty Company Limited. It operates within the Virgin group of companies, with Virgin Holdings Limited recorded as its controlling entity. Its registered business classification covers other professional, scientific and technical activities, and its listed industries relate to rewards, loyalty schemes and vouchers together with application software. This points to the company running a customer loyalty and rewards platform connected to the wider Virgin brand, rather than being a standalone consumer-facing retailer. It remains an active company, filing regular confirmation statements and annual accounts, and is based in central London.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk