STANDARD LIFE ASSETS AND EMPLOYEE SERVICES LIMITED
Company Information
- Company Number
- SC593510
- Registered Address
- Standard Life House, 30 Lothian Road, Edinburgh, United Kingdom, EH1 2DH
- Status
- Active
- Employee Count
- 3529.0
- Turnover
- 604811000.0
- EBITDA
- -9524000.0
Additional Details
- Website
- https://standardlife.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 5 April 2018
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- 0
- Region
- East of Scotland
Company Location
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 | 05 Feb 2024 | 24 | 88% | 6% | 6% | 12% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 8 | 94% | 4% | 2% | 6% |
| 01 Jul 2022 - 31 Dec 2022 | 03 Feb 2023 | 30 | 81% | 10% | 8% | 19% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Aug 2022 | 21 | 79% | 12% | 9% | 21% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Feb 2022 | 35 | 61% | 26% | 13% | 39% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 33 | 74% | 17% | 9% | 26% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 39 | 31% | 61% | 8% | 8% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 41 | 33% | 57% | 10% | 10% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 41 | 37% | 54% | 9% | 9% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 43 | 33% | 54% | 13% | 13% |
Company Summary
Standard Life Assets and Employee Services Limited is a company based in the United Kingdom that offers a variety of financial services and products to its customers
The company is committed to sustainability and has implemented a number of initiatives to ensure responsible business practices
One of the key areas of focus for Standard Life Assets and Employee Services Limited is their sustainability program
The company has set targets to reduce their carbon footprint and has also implemented measures to increase recycling and reduce waste
They also have a strong commitment to ethical and responsible investment practices
In terms of products and services, Standard Life Assets and Employee Services Limited offers a range of financial products, including pension funds, investment portfolios, and insurance products
They also provide employee benefits and services such as workplace pensions and savings plans
The key people at Standard Life Assets and Employee Services Limited include their CEO, Barry O'Dwyer, and their Chairman, Sir Gerry Grimstone
The company also has a team of experienced financial professionals who are dedicated to providing high-quality services to their clients
For those interested in learning more about Standard Life Assets and Employee Services Limited, their website address is www.standardlife.co.uk
The company's registered office address is 1 George Street, Edinburgh, EH2 2LL, United Kingdom
Overall, Standard Life Assets and Employee Services Limited is a reputable and sustainable company that offers a range of financial services and products to its customers
With a strong commitment to responsible business practices and a team of experienced professionals, the company is well-equipped to meet the diverse needs of its clients
Company Review
Trend Analysis
The data shows that there has been a steady decrease in the average time taken for STANDARD LIFE ASSETS AND EMPLOYEE SERVICES LIMITED to pay invoices to suppliers over the past three periods. This trend is also reflected in the percentage of invoices paid within 30 days, which has increased from 33% in 2019 to 88% in 2023. There has also been a decrease in the percentage of invoices paid later than 60 days, from 13% in 2019 to 6% in 2023. However, there was a slight increase in this percentage in 2022 compared to 2021.
Volatility Analysis
The data shows that there has been some volatility in the percentage of invoices paid between 31 and 60 days, with a peak of 61% in 2020 and a low of 17% in 2021. This could be due to changes in the company's payment processes or delays in receiving invoices from suppliers.
Summary Analysis
Overall, there has been a significant improvement in the payment processes of STANDARD LIFE ASSETS AND EMPLOYEE SERVICES LIMITED over the past three periods. The average time to pay has decreased from 43 days in 2019 to only 8 days in 2023. The company has also been paying a higher percentage of invoices within 30 days, with a peak of 94% in 2023. However, there is still room for improvement in the percentage of invoices paid between 31 and 60 days, which reached 61% in 2020.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The business' standard payment terms are for all undisputed invoices to be paid within 30 days of receipt. The maximum contractual payment period is 30 days from the receipt of an invoice and there have been no changes to the business' standard payment terms in the reporting period. Sunlife pay in line with variable contracted terms, in the vast majority of cases this is 30 days from the date of invoice but there are differing terms in place with different suppliers. We will agree to shorter terms if the contractual negotiations require it.
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
Phoenix has a dispute resolution process for staff to follow should a query or dispute of an invoice arise, which is published on the intranet. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes.
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