Score of 85.65/100 qualifies for PaymentCheck Certification
| 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 | 30 Jan 2026 | 28 | 85% | 14% | 1% | 15% |
| 01 Jan 2025 - 30 Jun 2025 | 24 Jul 2025 | 28 | 78% | 20% | 2% | 1% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 29 | 87% | 10% | 3% | 13% |
| 01 Jan 2024 - 30 Jun 2024 | 31 Jul 2024 | 28 | 92% | 6% | 2% | 8% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 30 | 91% | 7% | 2% | 9% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jul 2023 | 29 | 85% | 12% | 3% | 15% |
| 01 Jul 2022 - 31 Dec 2022 | 24 Jan 2023 | 30 | 78% | 16% | 6% | 22% |
| 01 Jan 2022 - 30 Jun 2022 | 10 Aug 2022 | 33 | 74% | 22% | 4% | 26% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 39 | 49% | 36% | 15% | 51% |
| 01 Jan 2021 - 30 Jun 2021 | 21 Jul 2021 | 31 | 72% | 27% | 1% | 28% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 30 | 75% | 24% | 1% | 25% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 31 | 74% | 24% | 2% | 26% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 32 | 53% | 44% | 3% | 45% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 36 | 20% | 77% | 3% | 82% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 36 | 22% | 74% | 4% | 80% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 35 | 35% | 62% | 3% | 66% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard payment terms are 30 days from receipt of an invoice prepared as per the requirements of the relevant contract. NERUK does not have any contracts whose payments terms are greater than 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
30
Any payment disputes are resolved according to the disputes mechanism stipulated in the oil and gas industry standard LOGIC contracts, which are available on www.logic-oil.com. Dispute resolution is defined within each Contract. There is an escalation model, with first point of call routed to a Contract Specialist (Contract owner) within the organisation.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
NEO ENERGY RESOURCES UK LIMITED, registered in England and Wales since 1964, appears on record as NEO NEXT + ENERGY RESOURCES UK LIMITED, suggesting a change in trading name. Its stated business activities under Companies House SIC codes are extraction of crude petroleum and extraction of natural gas, placing it within the upstream oil and gas sector. The company is part of a wider corporate group, with a person of significant control listed as another Neo Next Energy entity. Financial figures reported, including total assets and liabilities in the billions, relate to the group's consolidated position rather than this entity alone. The company remains active according to Companies House records.
Generated from the company's website and Companies House records. Sources: bringo.co.uk