PLEXUS LEGAL LLP
Company Information
- Company Number
- OC416421
- Registered Address
- C/O Interpath Ltd 4th Floor, Tailors Corner Thirsk Row, Leeds, LS1 4DP
- Status
- In Administration
- Employee Count
- 894
- Turnover
- £48,893,000
- EBITDA
- £5,948,000
Additional Details
- Website
- https://www.plexuslaw.co.uk/
- Company Type
- Limited liability partnership
- Incorporated On
- 16 March 2017
- Industries
- Financial Services, Professional Services
- Region
- Yorkshire and The Humber
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
PLEXUS LEGAL LLP averages 53 days for payment, with 72% paid within 30 days, indicating efficient handling for the majority of invoices. However, a significant 28% of payments are consistently late, including 11% extending beyond 60 days, suggesting a regular trajectory of substantial delays for a segment of their obligations.
Volatility Analysis
The 28% late payment rate indicates a notable degree of unpredictability in payment schedules for nearly one-third of invoices, impacting reliable cash flow forecasting for suppliers. The 11% of payments exceeding 60 days represents a significant risk factor for prolonged payment cycles, particularly for higher-value engagements or those with tight margins.
Summary Analysis
Suppliers should approach PLEXUS LEGAL LLP with caution due to the consistent 28% late payment rate and 11% exceeding 60 days, despite a majority being timely. It is recommended to establish clear, robust payment terms with potential late fees and actively monitor initial invoices to mitigate potential cash flow disruptions from these prolonged payment cycles.
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 Apr 2019 - 30 Sept 2019 | 13 Nov 2019 | 53 | 72% | 18% | 11% | 28% |
| 01 Oct 2018 - 31 Mar 2019 | 02 May 2019 | 42 | 25% | 67% | 8% | 75% |
| 01 Apr 2018 - 30 Sept 2018 | 26 Nov 2018 | 43 | 23% | 71% | 6% | 77% |
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
Payment terms are agreed with the supplier at point of first instruction. Our standard payment terms would be 30 days from the invoice date unless agreed otherwise.
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
Dispute Resolution Process
The accounts payable team deal with initial payment disputes, if they cannot rectify the dispute then they escalate to the head of finance.
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
Company Summary
PLEXUS LEGAL LLP is a limited liability partnership operating within the legal sector. It functions as a law firm providing legal services.
The company was incorporated on 16 March 2017, registered under company number OC416421. Its registered office is located in Leeds, Yorkshire, at C/O Interpath Ltd 4th Floor, Tailors Corner Thirsk Row, LS1 4DP. PLEXUS LEGAL LLP is currently In Administration.
As a legal limited liability partnership, organisations of this type typically offer a comprehensive range of legal services in the UK market. These commonly include providing legal advice, representation, litigation support, dispute resolution, and handling various commercial and private client legal matters.
