Score of 84.6/100 qualifies for PaymentCheck Certification
The average time taken for MILLIKEN INDUSTRIALS LIMITED to pay invoices has decreased over the past three periods, with a decrease of 2 days from 2017 to 2021.
The company has shown a moderate level of volatility in their payment patterns, with a range of 6-10% for invoices paid within 30 days and 1-4% for invoices paid later than 60 days.
From 2017 to 2021, MILLIKEN INDUSTRIALS LIMITED has consistently paid invoices within an average of 33-35 days. The company has shown improvement in paying invoices within 30 days, increasing from 55% in 2017 to 75% in 2021. However, there has also been an increase in invoices paid later than 60 days, with a high of 60% in 2018-2019. The company has also consistently not paid invoices within agreed terms, with a range of 6-14%.
| 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 |
|---|---|---|---|---|---|---|
| 16 May 2022 - 27 Nov 2022 | 19 Mar 2024 | 24 | 75% | 20% | 5% | 7% |
| 29 Nov 2021 - 15 May 2022 | 14 Oct 2022 | 22 | 73% | 25% | 2% | 8% |
| 17 May 2021 - 28 Nov 2021 | 27 Apr 2022 | 27 | 75% | 25% | 0% | 14% |
| 30 Nov 2020 - 16 May 2021 | 07 Sept 2021 | 33 | 55% | 45% | 0% | 10% |
| 15 Jun 2020 - 29 Nov 2020 | 10 Mar 2021 | 33 | 54% | 45% | 1% | 6% |
| 02 Dec 2019 - 14 Jun 2020 | 09 Nov 2020 | |||||
| 02 Dec 2019 - 17 May 2020 | 09 Nov 2020 | 34 | 54% | 45% | 1% | 7% |
| 20 May 2019 - 01 Dec 2019 | 03 Feb 2020 | 34 | 58% | 39% | 3% | 6% |
| 03 Dec 2018 - 19 May 2019 | 21 Oct 2019 | 35 | 56% | 42% | 2% | 8% |
| 04 Jun 2018 - 02 Dec 2018 | 22 Jan 2019 | 35 | 59% | 37% | 4% | 8% |
| 04 Dec 2017 - 03 Jun 2018 | 22 Jun 2018 | 33 | 55% | 38% | 6% | 19% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 DAYS NET 2% IN 14 DAYS
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
90
IN HOUSE LEGAL
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.
❌
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.
❌
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
Milliken Industrials Limited is a long-established company, incorporated in 1920 and registered at Beech Hill Plant in Wigan, Lancashire. According to Companies House records, its business activity is classified under manufacture of woven or tufted carpets and rugs, placing it within the fabrics and textiles, and furniture and furnishings industries. The company remains active. No further detail on trading activities, products or corporate structure is available from the evidence supplied, beyond a testimonial reference confirming an individual's role as legal counsel for the company's European operations.
Generated from the company's website and Companies House records.