The average time to pay for JOHN WAINWRIGHT & CO. LIMITED has been decreasing over the past three periods, from 51 days in Oct 2018-Dec 2018 to 48 days in Apr 2019-Sep 2019. This indicates that the company is paying their invoices to suppliers more quickly over time.
The company's volatility in terms of time taken to pay invoices is relatively stable, with only a 1-day difference between the shortest and longest standard payment period.
In summary, JOHN WAINWRIGHT & CO. LIMITED has been steadily decreasing their average time to pay invoices over the past three periods, with a slight increase in the percentage of invoices paid within 30 days. However, there has also been a slight increase in the percentage of invoices paid later than 60 days, which may need to be addressed.
| 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 | 31 Oct 2019 | 48 | 61% | 36% | 3% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days after month end
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
45
Invoice placed on hold to disable payment. Supplier contacted immediately to say that there is a dispute and given the name of the manager who is disputing. An agreement is then reached and purchase ledger advised accordingly
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
John Wainwright & Company Ltd, trading as Wainwright, quarries and processes basalt aggregate at Moons Hill Quarry in Somerset, founded in 1891. It manufactures asphalt and surfacing materials at two plants, in Somerset and at Avonmouth near Bristol, and operates a contracting division carrying out surfacing and civils works. Customers include National Highways, local authorities and construction companies across the South West and South-Central regions. The company also runs an aggregate site at Marchwood near Southampton. Its activities span extraction and processing of hard stone, production of asphalt and construction materials, and term maintenance and contracting works for public sector and private clients.
Generated from the company's website and Companies House records. Sources: wainwright.co.uk · wainwright.co.uk