Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 85.5/100 qualifies for PaymentCheck Certification
WM. NELSTROP & CO. LTD consistently demonstrates a strong trend of prompt payments, with an average payment time of 25 days. A significant 77% of payments are settled within 30 days, indicating a reliable trajectory for quick turnaround in accounts receivable.
While 77% of payments are highly predictable within 30 days, the 18% extending to 31-60 days introduces some minor variability in payment cycles. The small 5% of payments exceeding 60 days and 2% classified as late suggest a very low but present risk of extended payment terms for a minority of invoices.
Overall, WM. NELSTROP & CO. LTD presents a low payment risk, with the high percentage of prompt payments being a key decision factor for suppliers. Suppliers can generally expect timely settlements, but should monitor the small proportion of payments that extend beyond 60 days to mitigate minor extended credit risk.
| 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 Oct 2021 - 31 Mar 2022 | 17 May 2022 | 24 | 74% | 23% | 3% | 1% |
| 01 Apr 2021 - 30 Sept 2021 | 17 May 2022 | 25 | 77% | 18% | 5% | 2% |
| 01 Oct 2020 - 31 Mar 2021 | 23 Apr 2021 | 25 | 79% | 18% | 3% | 2% |
| 01 Apr 2020 - 30 Sept 2020 | 23 Apr 2021 | 25 | 78% | 18% | 4% | 2% |
| 01 Oct 2019 - 31 Mar 2020 | 18 Jun 2020 | 31 | 69% | 27% | 4% | 2% |
| 01 Apr 2019 - 30 Sept 2019 | 04 Nov 2019 | 33 | 72% | 25% | 4% | 2% |
| 01 Oct 2018 - 31 Mar 2019 | 21 May 2019 | 25 | 72% | 23% | 5% | 1% |
| 01 Apr 2018 - 30 Sept 2018 | 11 Dec 2018 | 25 | 75% | 22% | 3% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard terms are 21st of the month following month of supply, but at that point we clear all due invoices.
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
We reconcile each supplier statement and request copies of transactions were necessary, and disputes are issued by email and followed up as required. This can be driven by the person who ordered the goods, or by the accounts payable function.
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
Wm. Nelstrop & Co. Ltd trades as Nelstrops, a family flour miller based at Albion Flour Mills in Stockport, Cheshire. Founded over 200 years ago and now run by the sixth generation of the family, the company mills wheat sourced from English farms and Canadian prairies into flour for artisan, craft and home bakers. Its milling combines traditional methods with modern Swiss milling technology at its Cheshire mill. Products include strong white, wholemeal, plain, self raising, spelt, rye and pizza flours, sold direct to customers and used by artisan bakeries nationwide. Flour is packed in UK-made paper bags. The company has won multiple Great Taste Awards for its flour quality.
Generated from the company's website and Companies House records. Sources: nelstrop.co.uk · nelstrop.co.uk