PENNINGTONS MANCHES COOPER LLP
Company Information
- Company Number
- OC311575
- Registered Address
- 125 Wood Street, London, United Kingdom, EC2V 7AW
- Status
- Active
- Employee Count
- 743
- Turnover
- £112,208,000
- EBITDA
- £35,501,000
Additional Details
- Company Type
- Limited liability partnership
- Incorporated On
- 15 February 2005
- Industries
- Professional Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for PENNINGTONS MANCHES COOPER LLP to pay invoices has been increasing steadily over the past three periods, with a 4% increase from 2017-04-06 to 2018-04-05, a 23% increase from 2018-04-06 to 2019-09-30, and a 9% increase from 2019-10-01 to 2021-03-31.
Volatility Analysis
The percentage of invoices paid within 30 days has fluctuated between 40% and 62%, with the highest being in 2017-04-06 and the lowest in 2018-10-06. The percentage of invoices paid between 31 and 60 days has also fluctuated, with the highest being 30% in 2018-10-06 and the lowest being 20% in 2017-10-06. The percentage of invoices paid later than 60 days has also fluctuated, with the highest being 39% in 2020-04-01 and the lowest being 17% in 2018-04-06.
Summary Analysis
Between the three periods, the average time to pay for PENNINGTONS MANCHES COOPER LLP has increased by 31%, with the biggest increase of 23% occurring between 2018-04-06 and 2019-09-30. The percentage of invoices paid within 30 days has decreased by 20%, with the lowest being 40% in 2018-10-06. The percentage of invoices paid between 31 and 60 days has increased by 10%, with the highest being 30% in 2018-10-06. The percentage of invoices paid later than 60 days has increased by 22%, with the highest being 39% in 2020-04-01. The percentage of invoices not paid within agreed terms has increased by 14%, with the highest being 60% in 2018-10-06.
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 2020 - 31 Mar 2021 | 10 May 2021 | 74 | 46% | 24% | 30% | 53% |
| 01 Apr 2020 - 30 Sept 2020 | 03 Nov 2020 | 72 | 35% | 26% | 39% | 65% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 67 | 42% | 26% | 32% | 58% |
| 01 Apr 2019 - 30 Sept 2019 | 16 Oct 2019 | 60 | 42% | 30% | 28% | 58% |
| 06 Oct 2018 - 31 Mar 2019 | 16 Oct 2019 | 68 | 40% | 30% | 30% | 60% |
| 06 Apr 2018 - 05 Oct 2018 | 05 Nov 2018 | 45 | 58% | 25% | 17% | 42% |
| 06 Oct 2017 - 05 Apr 2018 | 11 May 2018 | 44 | 61% | 20% | 19% | 49% |
| 06 Apr 2017 - 05 Oct 2017 | 21 Feb 2018 | 43 | 62% | 21% | 17% | 49% |
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
The principal activity of Penningtons Manches Cooper LLP is the provision of legal services in the United Kingdom. There are two types of supplies: office purchases, which relate to the normal running of a business, and client related disbursements, which are passed on to our clients. Our standard policy is to pay all office related invoices within 30 days. As each invoice falls due they are included in the next payment run. For disbursements, such as third party lawyer fees, our standard practice is to pay these invoices within 2 days of receiving funds from our clients, in accordance with Solicitors Accounts Rules. Due to the variety of legal work that we perform, receipt of funds from clients may take several months to be received as it can be dependent on the completion of a transaction or a court case.
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
All invoices in dispute are passed to the appropriate team that requested the goods or services in order for them to resolve the dispute. It may then be referred onto the senior management of the firm if necessary.
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?
❌
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
PENNINGTONS MANCHES COOPER LLP is a leading international law firm with a strong commitment to sustainability. The company offers a range of legal services including corporate, commercial, real estate, and dispute resolution to clients globally.
Their sustainability program focuses on reducing their environmental impact, promoting diversity and inclusion, and giving back to the community. They have implemented various initiatives such as using renewable energy, reducing waste and carbon emissions, and promoting sustainable practices within their offices.
PENNINGTONS MANCHES COOPER LLP also offers sustainable products and services to their clients, such as advising on sustainable investments and renewable energy projects. They have a dedicated team of lawyers who specialize in environmental and sustainability law, ensuring that their clients receive the best advice in this area.
The key people at PENNINGTONS MANCHES COOPER LLP include their Managing Partner, David Raine, and their Head of Sustainability, Clare Reddy. They have a team of over 500 lawyers and support staff across their offices in the UK, Europe, and Asia.
Their website address is www.penningtonslaw.com, where clients can find information about their services, sustainability program, and contact details. Their registered office address is 125 Wood Street, London, EC2V 7AW, United Kingdom.
In summary, PENNINGTONS MANCHES COOPER LLP is a leading international law firm that not only provides top-quality legal services but also takes a strong stance on sustainability. With a dedicated team and various initiatives in place, they are committed to making a positive impact on the environment and society.
