The average time taken for LAKELAND LIMITED to pay invoices has remained relatively stable over the past three years, with a slight increase in 2023. The percentage of invoices paid within 30 days has also remained consistent, with a slight decrease in 2023. However, there has been a notable increase in the percentage of invoices paid later than 60 days in 2023.
The volatility in LAKELAND LIMITED's payment practices can be seen in the fluctuation of the percentage of invoices paid between 31 and 60 days. This has ranged from 26% in 2018 to 34% in 2021, showing a significant variation in payment behavior. The percentage of invoices not paid within agreed terms has also shown volatility, ranging from 18% in 2018 to 39% in 2023.
In the past three periods, LAKELAND LIMITED has maintained an average time to pay of 26-28 days, with a consistent percentage of invoices paid within 30 days (57-60%). However, there has been an increase in the percentage of invoices paid later than 60 days in 2023. The shortest standard payment period for LAKELAND LIMITED has remained at 30 days throughout the analyzed periods.
| 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 2025 - 31 Dec 2025 | 10 Mar 2026 | 39 | 45% | 39% | 16% | 9% |
| 01 Jan 2025 - 30 Jun 2025 | 10 Mar 2026 | 32 | 53% | 44% | 3% | 5% |
| 01 Jul 2024 - 31 Dec 2024 | 10 Mar 2026 | 29 | 59% | 39% | 2% | 12% |
| 01 Jan 2024 - 30 Jun 2024 | 19 Jul 2024 | 24 | 70% | 29% | 1% | 45% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 23 | 72% | 28% | 0% | 39% |
| 01 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 23 | 73% | 26% | 1% | 33% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 26 | 64% | 35% | 1% | 28% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 25 | 65% | 34% | 1% | 29% |
| 01 Jan 2021 - 30 Jun 2021 | 23 Jul 2021 | 27 | 60% | 38% | 2% | 30% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 26 | 64% | 35% | 1% | 24% |
| 01 Jan 2020 - 30 Jun 2020 | 04 Aug 2020 | 28 | 59% | 40% | 1% | 38% |
| 01 Jul 2019 - 31 Dec 2019 | 17 Feb 2020 | 29 | 59% | 40% | 1% | 21% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 28 | 57% | 42% | 1% | 23% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 26 | 60% | 40% | 0% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 11 Jul 2018 | 26 | 60% | 40% | 0% | 30% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 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
90
Lakeland is committed to dealing with its suppliers in a fair manner. Initial contact is via the Accounts Payable team, who have a dedicated email address. Each supplier has a business owner, who they are able to proactively liaise with on a day to day basis. Disputes can be escalated to the Finance Leadership team and ultimately the Executive Team as and where appropriate.
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
Lakeland Limited trades as Lakeland, a Cumbria-based retailer selling kitchenware, bakeware, cleaning and laundry products. Its own site describes it as "Experts in cooking, baking, cleaning & laundry since 1964". The company sells through physical stores and online, offering ranges including cookware, pans, bakeware, cake decorating items, cleaning products and equipment, and laundry goods such as heated airers, ironing boards and irons. It offers a three-year guarantee, free returns and free delivery on qualifying orders. Incorporated in 1964 and registered in Windermere, Cumbria, it operates as a specialist household goods retailer rather than a manufacturer, focused on consumer sales via mail order, internet and specialised stores.
Generated from the company's website and Companies House records. Sources: lakeland.co.uk · lakeland.co.uk