LAKELAND LIMITED
Company Information
- Company Number
- 00809688
- Registered Address
- Alexandra Buildings, Windermere, Cumbria, LA23 1BQ
- Status
- Active
- Employee Count
- 1,106
- Turnover
- £133,596,000
- EBITDA
- -£6,430,000
Additional Details
- Website
- https://www.lakeland.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 19 June 1964
- Nature of Business
- 47520 - Retail sale of hardware, paints and glass in specialised stores47540 - Retail sale of electrical household appliances in specialised stores47910 - Retail sale via mail order houses or via Internet
- Industries
- Commerce Models, Property-related Goods And Services
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
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.
Volatility Analysis
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.
Summary Analysis
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.
Performance Reports History
| 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 | 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% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 30 days from date of invoice and 30 days following the end of the month of the invoice date. Separate payments terms are also negotiated and only applied when negotiated and agreed by both parties
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
If a dispute arises the supplier should contact the Accounts Payable Team by either email or phone. If the dispute can’t be resolved within the Account Payable Team it will be escalated to the appropriate manager or director to be investigated further. Overall 99% of invoices are paid within 60 days from date of receipt
Other Payment Information
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
Company Summary
LAKELAND LIMITED is a British company that specializes in home and kitchenware products. Founded in 1963, the company has grown to become a trusted and leading brand in the UK market.
The company's sustainability program is a key aspect of their business operations. They are committed to reducing their environmental impact by using sustainable materials in their products and packaging. They also have a recycling program in place for their customers to properly dispose of their products.
LAKELAND LIMITED offers a wide range of products including kitchenware, homeware, cleaning supplies, and gardening tools. Their products are known for their high quality and innovative designs. The company also has a strong focus on customer service and offers a 3-year guarantee on all their products.
The key people at LAKELAND LIMITED include the Chairman, Martin Rayner, and the Managing Director, Catherine Nunn. Both have been with the company for many years and have played a crucial role in its success.
For customers looking to contact LAKELAND LIMITED, they can do so through their website, which also serves as an online store for their products. The company's registered office address is located in Windermere, Cumbria, and it can be found on their website.
In summary, LAKELAND LIMITED is a reputable British company that offers high-quality and sustainable home and kitchenware products. With a strong focus on customer service and a commitment to sustainability, they continue to be a popular choice among UK consumers.
