The data for DAVID COVER AND SON LIMITED shows a steady increase in the average time to pay invoices over the past three periods. In the first period (2018-01-01 to 2018-06-30), the average time to pay was 39 days, which increased to 43 days in the most recent period (2021-01-01 to 2021-06-30). This indicates a trend towards longer payment times for suppliers.
The data also shows some volatility in the percentage of invoices paid within 30 days. In the first two periods, the percentage was around 30%, but it dropped to 25% in the most recent period. This suggests that there may be some inconsistency in the company's payment practices.
| 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 Jan 2022 - 30 Jun 2022 | 12 Aug 2022 | 39 | 31% | 61% | 8% | 17% |
| 01 Jan 2021 - 30 Jun 2021 | 21 Jul 2021 | 43 | 20% | 68% | 12% | 33% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 43 | 25% | 61% | 13% | 30% |
| 01 Jan 2020 - 30 Jun 2020 | 05 Aug 2020 | 41 | 30% | 58% | 12% | 29% |
| 01 Jul 2019 - 31 Dec 2019 | 08 Jan 2020 | 40 | 29% | 63% | 8% | 28% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Sept 2019 | 40 | 28% | 63% | 9% | 28% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 41 | 28% | 61% | 11% | 21% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 39 | 34% | 56% | 10% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment by end of month following month of invoice date
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
Disputes are escalated by the relevant depot manager to a director
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
David Cover and Son Limited trades as Covers Timber & Builders Merchants. It is a family owned timber and builders merchant supplying timber and building materials across the South of England from fifteen branch depots, serving both the building trade and the public. The company offers over 25,000 product lines, imports timber directly, and operates its own timber mills for producing joinery and mouldings, along with stress grading, house lot packages and preservative treatments. It also provides delivery, click and collect, and trade account services. Its registered business activities include sawmilling and planing of wood, agency sale of timber and building materials, and wholesale of wood, construction materials and sanitary equipment.
Generated from the company's website and Companies House records. Sources: coversmerchants.co.uk · coversmerchants.co.uk