MOTONOVO FINANCE LIMITED
Company Information
- Company Number
- 11556144
- Registered Address
- One, Central Square, Cardiff, Wales, United Kingdom, CF10 1FS
- Status
- Active
- Employee Count
- 777.0
- Turnover
- 258600000.0
- EBITDA
- 98700000.0
Additional Details
- Website
- https://aplins.motogb.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 6 September 2018
- Nature of Business
- 64921 - Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors
- Industries
- Financial Services,Travel And Transportation
- Region
- Wales
Company Location
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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 | 31 Jan 2024 | 15 | 76% | 18% | 6% | 30% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 24 | 73% | 7% | 20% | 35% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 36 | 64% | 17% | 19% | 37% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 36 | 60% | 24% | 16% | 38% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 20 | 90% | 9% | 1% | 31% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 29 | 78% | 15% | 7% | 23% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 25 | 84% | 14% | 2% | 23% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 26 | 79% | 17% | 4% | 32% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 29 | 68% | 28% | 4% | 42% |
Company Summary
MOTONOVO FINANCE LIMITED is a leading automotive finance company based in the United Kingdom
They offer a range of financial services for both consumers and businesses, with a strong focus on sustainability
Their sustainability program includes initiatives to reduce their carbon footprint, promote ethical and responsible business practices, and support local communities
They have also implemented a paperless document system and encourage the use of electric vehicles within their company
The company's main products and services include vehicle financing, personal loans, and insurance solutions
They work with a wide range of car dealerships and manufacturers to provide competitive financing options for their customers
The key people at MOTONOVO FINANCE LIMITED include CEO Mark Standish, who has over 30 years of experience in the financial services industry
The company also has a dedicated team of sustainability experts who are committed to promoting environmentally friendly practices within the company
For further information, customers can visit their website at https://www.motonovofinance.com/ or contact them at their registered office address: St William House, Tresillian Terrace, Cardiff, CF10 5BH
Overall, MOTONOVO FINANCE LIMITED is a reputable and sustainable company that offers a wide range of financial services for the automotive industry
Company Review
Trend Analysis
In the past three periods, there has been a steady decrease in the average time taken by MOTONOVO FINANCE LIMITED to pay invoices to suppliers. The average time to pay has decreased from 29 days in the period of July 2019 to December 2019 to 15 days in the period of July 2023 to December 2023. This indicates an improvement in the company's payment efficiency.
Volatility Analysis
The data shows that the company's payment behavior has been relatively stable in terms of the percentage of invoices paid within 30 days and not paid within agreed terms. However, there has been some fluctuation in the percentage of invoices paid between 31 and 60 days and later than 60 days. This could be due to external factors such as economic conditions or changes in the company's internal processes.
Summary Analysis
In the past three periods, MOTONOVO FINANCE LIMITED has shown a consistent improvement in their payment efficiency. The average time to pay has decreased by 14 days, with the company paying suppliers on average 20 days faster in the latest period (July 2023 to December 2023) compared to the initial period (July 2019 to December 2019).
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
MotoNovo Finance Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Bank’s policy is to pay within 30 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
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
Any complaints or concern will be considered by the Accounts Payable department, if the invoice is with another member of staff Accounts Payable will ask the person to approve the invoice promptly so that it can be paid without delay. If any invoices are missing or have not been received, they will be uploaded for approval and payment and any queries will be taken up with the relevant department. Once an invoice is identified as in dispute it is not paid until an authorised representative of the relevant business area confirms that the dispute is resolved. Where an invoice is disputed the 30 days payment obligation is cancelled as appropriate.
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
