Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| 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 2024 - 30 Jun 2024 | 23 Jul 2024 | 36 | 40% | 52% | 8% | 2% |
| 01 Jul 2023 - 31 Dec 2023 | 23 Apr 2024 | 35 | 45% | 48% | 7% | 2% |
| 01 Jan 2021 - 30 Jun 2021 | 16 Aug 2021 | 57 | 25% | 27% | 48% | 9% |
| 01 Jul 2020 - 31 Dec 2020 | 12 Feb 2021 | 52 | 29% | 32% | 39% | 12% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 61 | 16% | 32% | 52% | 14% |
| 01 Jul 2019 - 31 Dec 2019 | 10 Feb 2020 | 57 | 18% | 37% | 45% | 15% |
| 01 Jan 2019 - 30 Jun 2019 | 11 Jul 2019 | 57 | 20% | 34% | 46% | 14% |
| 01 Jul 2018 - 31 Dec 2018 | 11 Jul 2019 | 56 | 19% | 36% | 45% | 13% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 55 | 20% | 39% | 41% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
A singular standard payment term does not exist across our supplier base due to the long-standing relationships that we have with our suppliers. The majority of terms are 10th of second month following date of invoice (being 40 to 70 days) or 10th of third month following date of invoice (being 70 to 100 days). In most cases settlement discount is included within the terms. Any amendments to such terms are negotiated and agreed by both parties. For service provider suppliers (i.e. excluding stock for resale suppliers) standard payment terms are end of month following date of invoice (being 30 to 60 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
130
• All invoices are registered onto the system on receipt and subsequently authorised at the earliest possible date. • If for any reason there is a discrepancy between the invoice value and what our internal purchase order system is expecting the invoice is suspended pending confirmation of the query to determine if this is a supplier or internal error. • If it is deemed that the query is due to supplier error, a linked debit note is raised on our system and emailed to the supplier informing them of the query. • Once the credit note is received from the supplier it is authorised onto our system automatically authorising the invoice previously held under query. • The authorised invoice will then be paid in the next payment run to 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
MCD Group Limited is a private limited company registered in Coleshill, Birmingham, incorporated in 1946. It traded under the name Rolfe & West Limited until 19 August 1987, when it adopted its current name. Companies House records its nature of business as wholesale of household goods not elsewhere classified. No further detail on its trading activities, products or customers is available from the evidence supplied, so beyond this registered classification little more can be said about its current operations.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk