| 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 2023 - 30 Sept 2023 | 28 Feb 2024 | 54 | 3% | 78% | 19% | 53% |
| 01 Apr 2019 - 30 Sept 2019 | 07 Feb 2020 | 49 | 4% | 76% | 20% | 58% |
| 01 Oct 2018 - 31 Mar 2019 | 12 Jul 2019 | 52 | 6% | 74% | 20% | 52% |
| 01 Apr 2018 - 30 Sept 2018 | 25 Oct 2018 | 52 | 8% | 66% | 26% | 53% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from end of month of invoice (i.e. 45 days credit on average) 43 days from the end of month of invoice (i.e. 58 days credit on average)
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Disputes are resolved by active discussion between the supplier, the accounts payable team and, where necessary, the operational manager who requested the goods or services.
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.
❌
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
Castings PLC is a UK-based iron casting and machining group, incorporated in 1907 and registered at Brownhills, West Midlands. The company operates its own iron foundry at Brownhills and is the parent of a group that also includes Wm Lee Limited in Dronfield, Castings Ductile in Scunthorpe, and CNC Speedwell, providing machining capability. The group supplies cast iron components ranging from 0.15 kg to 7 tonnes to domestic and export markets, using high-volume equipment in a medium-batch manufacturing environment. Group revenue was reported at £173m with pre-tax profit of £10.3m. Castings PLC is listed, with facilities certified to IATF16949, ISO9001 and ISO14001.
Generated from the company's website and Companies House records. Sources: castings.plc.uk