Score of 89/100 qualifies for PaymentCheck Certification
The data for CLOSE BROTHERS LIMITED shows a consistent trend of decreasing average time to pay invoices over the past three periods. This trend is reflected in the decreasing percentages of invoices paid later than 60 days and not paid within agreed terms. However, there is also a slight decrease in the percentage of invoices paid between 31 and 60 days, indicating that the company may be paying more invoices early in order to improve their overall payment time.
The data for CLOSE BROTHERS LIMITED shows relatively low volatility, with only small changes in the average time to pay and percentage of invoices paid within different time frames. This suggests that the company has established a consistent payment process and is able to maintain it over time.
For CLOSE BROTHERS LIMITED, the average time to pay invoices has decreased by 7% over the past three periods, from 29 days to 22 days. This is a significant improvement and reflects the company's efforts to pay invoices in a timely manner. The percentage of invoices paid within 30 days has also increased by 12%, from 68% to 80%. This is a positive change and indicates that the company is prioritizing early payment. However, the percentage of invoices paid later than 60 days has only decreased by 4%, from 11% to 7%. This suggests that the company could still improve in this area. The worst period for CLOSE BROTHERS LIMITED was in 2018, where the percentage of invoices paid later than 60 days was highest at 11%. Since then, the company has consistently improved their payment time and has not had a period where this percentage was higher than 9%.
| 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 Aug 2025 - 31 Jan 2026 | 02 Mar 2026 | 20 | 84% | 12% | 4% | 15% |
| 01 Feb 2025 - 31 Jul 2025 | 29 Aug 2025 | 18 | 84% | 12% | 4% | 15% |
| 01 Aug 2024 - 01 Jan 2025 | 28 Feb 2025 | 17 | 85% | 10% | 5% | 16% |
| 01 Feb 2024 - 31 Jul 2024 | 29 Aug 2024 | 17 | 85% | 11% | 4% | 14% |
| 01 Aug 2023 - 31 Jan 2024 | 27 Feb 2024 | 21 | 80% | 14% | 6% | 19% |
| 01 Feb 2023 - 31 Jul 2023 | 29 Aug 2023 | 22 | 79% | 14% | 7% | 19% |
| 01 Aug 2022 - 31 Jan 2023 | 28 Feb 2023 | 22 | 80% | 13% | 7% | 20% |
| 01 Feb 2022 - 31 Jul 2022 | 26 Aug 2022 | 20 | 81% | 13% | 6% | 18% |
| 01 Aug 2021 - 31 Jan 2022 | 02 Mar 2022 | 22 | 80% | 13% | 7% | 20% |
| 01 Feb 2021 - 31 Jul 2021 | 26 Aug 2021 | 23 | 79% | 13% | 8% | 22% |
| 01 Aug 2020 - 31 Jan 2021 | 26 Feb 2021 | 25 | 75% | 17% | 8% | 26% |
| 01 Feb 2020 - 31 Jul 2020 | 28 Aug 2020 | 24 | 76% | 16% | 8% | 24% |
| 01 Aug 2019 - 31 Jan 2020 | 27 Feb 2020 | 26 | 73% | 19% | 9% | 29% |
| 01 Feb 2019 - 31 Jul 2019 | 29 Aug 2019 | 24 | 77% | 17% | 7% | 24% |
| 01 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | 28 | 72% | 19% | 9% | 30% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 28 | 72% | 18% | 10% | 29% |
| 01 Aug 2017 - 31 Jan 2018 | 28 Feb 2018 | 29 | 68% | 21% | 11% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Close Brothers Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Group’s policy is to pay within 60 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
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
Close Brothers Limited and the supplier will first attempt to resolve any dispute by referring it for formal discussion between Close Brothers Limited’s authorised representative and the supplier (both acting reasonably and in good faith). If Close Brothers Limited’s authorised representative and the supplier are for any reason unable to resolve the dispute within 14 days of the date of its referral to them, the dispute may be referred to court by either Close Brothers Limited or the supplier.
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
Close Brothers Limited is a long-established private limited company, incorporated in 1924 and registered in London, operating within the Close Brothers Group. Companies House records its nature of business as financial intermediation not elsewhere classified, and associated industry tags cover loans, debt and grants alongside cars, motorcycles and other road vehicles, indicating a role in lending activity, including vehicle-related finance, within the wider group structure. Filing records show it as an active entity linked administratively to Close Brothers Group Plc, sharing a registered office with other group companies. No further detail on specific products, customers or trading operations is available from the evidence, beyond its classification as a financial intermediation business tied to the Close Brothers group.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk