Score of 84.3/100 qualifies for PaymentCheck Certification
The trend for J.R. RIX & SONS LIMITED's average time to pay invoices has been fairly consistent over the past three years, with a slight decrease in 2022 compared to previous years. The percentage of invoices paid within 30 days has also remained relatively stable, while there has been a small increase in the percentage of invoices paid between 31 and 60 days in 2022. However, the percentage of invoices paid later than 60 days has seen a significant decrease in 2022.
The volatility of J.R. RIX & SONS LIMITED's average time to pay invoices has been low, with only a small fluctuation in 2022 compared to previous years. The volatility of the percentage of invoices paid within 30 days and between 31 and 60 days has also been low, while the volatility of the percentage of invoices paid later than 60 days has been high in previous years but has decreased in 2022.
Overall, J.R. RIX & SONS LIMITED has maintained a consistent average time to pay invoices and a high percentage of invoices paid within 30 days. However, there has been a decrease in the percentage of invoices paid later than 60 days in 2022, indicating an improvement in their payment practices. The worst period was in 2018-2019 where the percentage of invoices paid later than 60 days was 4%, which has since decreased to 2% in 2021-2022.
| 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 | 20 Aug 2024 | 23 | 69% | 30% | 1% | 0% |
| 01 Jul 2023 - 31 Dec 2023 | 20 Aug 2024 | 26 | 64% | 34% | 2% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 22 Feb 2024 | 26 | 62% | 35% | 3% | 3% |
| 01 Jul 2022 - 31 Dec 2022 | 22 Feb 2024 | 30 | 57% | 36% | 7% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 09 Aug 2022 | 25 | 65% | 33% | 2% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 16 Jun 2022 | 35 | 48% | 48% | 4% | 4% |
| 01 Jan 2021 - 30 Jun 2021 | 11 Aug 2021 | 30 | 51% | 47% | 2% | 2% |
| 01 Jul 2020 - 31 Dec 2020 | 04 Mar 2021 | 34 | 49% | 49% | 2% | 2% |
| 01 Jan 2020 - 30 Jun 2020 | 04 Mar 2021 | 35 | 50% | 46% | 4% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 04 Mar 2021 | 35 | 51% | 45% | 4% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 33 | 53% | 45% | 2% | 2% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Feb 2019 | 35 | 51% | 45% | 4% | 4% |
| 01 Jan 2018 - 30 Jun 2018 | 28 Jul 2018 | 35 | 47% | 49% | 4% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Terms with suppliers vary according to the nature of the product or service supplied Our standard payment terms for suppliers is the end of the month following date of invoice (30-60 days from receipt of 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
In the first instance it should be directed to the purchase accounts section who will in turn direct it to the individual or department responsible for authorising the payment If necessary the dispute will be escalated to senior management with the aim of resolving the matter in a timely manner
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
J.R. Rix & Sons Limited is registered in Hull and its Companies House records show activities in wholesale of petroleum and other fuels alongside head office functions, indicating a role as part of the wider Rix Group. The group trades as Rix Petroleum, a family owned fuel supplier operating for nearly 100 years, distributing and retailing petroleum products including heating oil, gas oil, diesel, kerosene, lubricants and AdBlue to homes, farms and businesses. It runs a depot network across England and Scotland, and also offers renewable energy services such as solar PV, EV charging and battery storage, alongside boiler and tank installation and maintenance.
Generated from the company's website and Companies House records. Sources: rix.co.uk · rix.co.uk