Score of 84.1/100 qualifies for PaymentCheck Certification
From Jan 2018 to Dec 2023, the average time taken by RICHARD GREEN (FINE PAINTINGS) to pay invoices has fluctuated between 21 and 28 days. However, there has been an overall decrease in the average time to pay, from 25 days in 2018 to 26 days in 2023.
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 3% difference between the highest and lowest values. The volatility in the percentage of invoices paid between 31 and 60 days has been slightly higher, with a 19% difference between the highest and lowest values. The highest volatility has been in the percentage of invoices paid later than 60 days, with a 25% difference between the highest and lowest values.
From Jan 2018 to Dec 2023, there has been a consistent trend of RICHARD GREEN (FINE PAINTINGS) paying invoices within an average of 21 to 28 days. The percentage of invoices paid within 30 days has remained relatively high at 86%, while the percentage of invoices paid between 31 and 60 days has fluctuated between 9% and 29%. The percentage of invoices paid later than 60 days has also fluctuated between 2% and 5%. The company has consistently met its agreed payment terms, with 0% of invoices not paid within agreed terms.
| 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 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 28 | 69% | 29% | 2% | 2% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 26 | 73% | 24% | 3% | 2% |
| 01 Jan 2020 - 30 Jun 2020 | 03 Aug 2020 | 22 | 86% | 9% | 5% | 2% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 25 | 82% | 14% | 4% | 2% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 25 | 75% | 21% | 4% | 1% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 25 | 75% | 21% | 4% | 1% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 21 | 86% | 10% | 4% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Varies depending on contract
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
92
N/A
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Richard Green (Fine Paintings) operates a fine art gallery on New Bond Street in Mayfair, London. Described as a family-run business established in 1955, it deals in paintings dating from the 17th to the 21st century, spanning categories such as Old Masters, Impressionists and Modern British art, and also sells sculpture, including bronzes by Henry Moore. The gallery assists clients in forming art collections, providing provenance and scholarly background on works, and advising on framing and hanging. It also mounts exhibitions and participates in art fairs, and has assisted in building museum and public collection holdings worldwide. Its registered SIC code confirms retail sale in a commercial art gallery.
Generated from the company's website and Companies House records. Sources: richardgreen.com