HOMEFIRE GROUP LIMITED exhibits a trend of extended payment cycles, with an average payment time of 45 days. A notable 70% of payments fall outside the standard 30-day window, indicating a consistent pattern of slower remittance. This trajectory suggests suppliers should anticipate payments taking well over one month.
The company's payment behavior shows high volatility, with 40% of payments being late and a significant 22% extending beyond 60 days. This indicates low reliability and predictability in payment timing, presenting a substantial cash flow risk due to delayed receivables. Suppliers should factor in potential for significant payment delays when extending credit.
Given an average payment of 45 days and 40% late payments, suppliers should anticipate extended payment terms and potential cash flow strain. Consider implementing stricter payment terms such as shorter credit periods, upfront payments, or adjusting pricing to account for the inherent payment delay risk. Close monitoring of outstanding invoices and immediate follow-up on overdue amounts are essential risk mitigation strategies.
| 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 Apr 2024 - 30 Sept 2024 | 29 Oct 2024 | 49 | 26% | 46% | 28% | 48% |
| 01 Oct 2023 - 31 Mar 2024 | 02 May 2024 | 49 | 35% | 43% | 22% | 30% |
| 01 Apr 2023 - 30 Sept 2023 | 05 Mar 2024 | 45 | 30% | 48% | 22% | 40% |
| 01 Oct 2022 - 31 Mar 2023 | 20 Jun 2023 | 45 | 32% | 51% | 17% | 36% |
| 01 Apr 2022 - 30 Sept 2022 | 16 Nov 2022 | 48 | 31% | 44% | 25% | 41% |
| 01 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 41 | 32% | 50% | 17% | 30% |
| 01 Apr 2021 - 30 Sept 2021 | 01 Nov 2021 | 42 | 33% | 52% | 15% | 12% |
| 01 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 40 | 37% | 49% | 14% | 11% |
| 01 Apr 2020 - 30 Sept 2020 | 30 Oct 2020 | 42 | 33% | 49% | 18% | 14% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 35 | 42% | 52% | 6% | 20% |
| 01 Apr 2019 - 30 Sept 2019 | 30 Oct 2019 | 31 | 50% | 48% | 2% | 29% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 30 | 55% | 42% | 3% | 27% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 32 | 48% | 50% | 2% | 30% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days following the end of the month in which the invoice is received
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
75
Any disputes are addressed first by the purchase ledger team who will discuss any issues arising with the supplier and will involve appropriate operational personnel if required
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
HOMEFIRE GROUP LIMITED is an active private limited company. Based on its name, the company operates within the domestic heating and fuel sectors, providing related products or services. The inclusion of "Group" in its name often indicates a diversified business portfolio or a holding company structure.
HOMEFIRE GROUP LIMITED holds company number 00544782 and was incorporated on 19 February 1955. Its registered office is located at Westthorpe Fields Road, Killamarsh, Sheffield, S21 1TZ.
Companies operating within the domestic heating and fuel sectors in the UK typically specialise in the supply of solid fuels, biomass products, and various heating appliances such as fireplaces and stoves. Their services commonly extend to distribution, retail, or wholesale activities for both residential and commercial markets.