VITA CELLULAR FOAMS consistently demonstrates slow payment behavior, with an average payment time of 56 days. The predominant payment trend shows 63% of invoices settled between 31 and 60 days, indicating a routine practice of exceeding standard 30-day terms. Only a minor portion (12%) of payments are made within 30 days.
The company exhibits significant payment unpredictability and high risk due to its alarming 82% late payment rate. While the majority settle within 31-60 days, a substantial 26% of payments extend beyond 60 days, severely impacting cash flow reliability. This pattern suggests a lack of consistent adherence to prompt payment schedules, making future payment dates difficult to forecast.
Suppliers should anticipate substantial payment delays when engaging with VITA CELLULAR FOAMS and factor in a minimum 56-day payment cycle. To mitigate the high risk of extended cash flow, consider negotiating favorable terms such as upfront payments, shorter payment windows, or implementing penalties for late payments. Carefully assess the impact on your own working capital before committing to significant credit exposure.
| 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 | 31 Jul 2024 | 64 | 13% | 59% | 28% | 84% |
| 01 Jul 2023 - 31 Dec 2023 | 05 Apr 2024 | 56 | 12% | 63% | 26% | 82% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 57 | 11% | 61% | 28% | 88% |
| 01 Jul 2022 - 31 Dec 2022 | 12 Apr 2023 | 61 | 9% | 62% | 29% | 86% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 54 | 10% | 62% | 28% | 88% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 56 | 9% | 63% | 28% | 76% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 58 | 14% | 55% | 31% | 72% |
| 01 Jul 2020 - 31 Dec 2020 | 23 Jan 2021 | 54 | 8% | 67% | 25% | 89% |
| 01 Jan 2020 - 30 Jun 2020 | 05 Jan 2021 | 56 | 8% | 62% | 30% | 88% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 56 | 8% | 63% | 29% | 83% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 57 | 10% | 63% | 27% | 87% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 57 | 8% | 64% | 28% | 85% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Sept 2018 | 55 | 9% | 64% | 27% | 88% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Terms are set on a supplier by supplier basis. Typically terms vary between 30 and 90 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
119
Disputes will be considered by Vita’s legal and commercial teams within 30 days of receipt.
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
VITA CELLULAR FOAMS (UK) LIMITED is an active private limited company specialising in the production or supply of cellular foams. Its name indicates a clear focus on foam-based materials and related services within the UK market.
Incorporated on 20 February 1959, the company holds the registration number 00621497. Its registered office is situated at Oldham Road, Middleton, Manchester, M24 2DB.
Companies operating in the cellular foams sector typically manufacture, convert, and supply a diverse range of foam materials. These products often serve various industries, including bedding, furniture, automotive, construction for insulation, and packaging applications.