Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Over the past three periods, there has been a general downward trend in the average time taken for HIGGINS HOMES PLC to pay their invoices. In the most recent period, the average time to pay has decreased significantly to only 17 days, compared to 40 days in the previous period and 52 days in the period before that.
There has been a high level of volatility in the percentage of invoices paid within 30 days by HIGGINS HOMES PLC. In the most recent period, this percentage has increased to 76%, a significant jump from 50% in the previous period and 42% in the period before that.
The most recent period (Feb 2023 - July 2023) shows the best performance for HIGGINS HOMES PLC, with an average time to pay of only 7 days, an increase in the percentage of invoices paid within 30 days to 95%, and a decrease in the percentage of invoices paid later than 60 days to only 3%. This is a significant improvement from the previous period (Aug 2022 - Jan 2023), where the average time to pay was 35 days, only 50% of invoices were paid within 30 days, and 24% of invoices were paid later than 60 days.
| 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 Feb 2023 - 31 Jul 2023 | 09 Aug 2023 | 17 | 76% | 24% | 0% | 59% |
| 01 Aug 2022 - 31 Jan 2023 | 12 Apr 2023 | 1 | 100% | 0% | 0% | 13% |
| 01 Feb 2022 - 31 Jul 2022 | 12 Apr 2023 | 7 | 95% | 3% | 2% | 27% |
| 01 Aug 2021 - 31 Jan 2022 | 16 Feb 2022 | 35 | 50% | 42% | 8% | 52% |
| 01 Feb 2021 - 31 Jul 2021 | 10 Nov 2021 | 69 | 38% | 50% | 12% | 36% |
| 01 Aug 2020 - 31 Jan 2021 | 10 Nov 2021 | 40 | 42% | 50% | 9% | 38% |
| 01 Feb 2020 - 31 Jul 2020 | 10 Nov 2021 | 43 | 39% | 45% | 16% | 57% |
| 01 Aug 2019 - 31 Jan 2020 | 10 Nov 2021 | 52 | 19% | 61% | 19% | 53% |
| 01 Feb 2019 - 31 Jul 2019 | 02 Jan 2020 | 44 | 16% | 77% | 7% | 43% |
| 01 Aug 2018 - 31 Jan 2019 | 29 Jul 2019 | 46 | 11% | 81% | 8% | 43% |
| 01 Aug 2017 - 31 Jan 2018 | 06 Mar 2018 | 36 | 41% | 51% | 8% | 27% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard invoices are settled the month end following the invoice month. Subcontractors are paid within the terms of the order.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
NA
Maximum contractual payment period agreed
60
Invoice queries are referred to the bought ledger department for investigation. Subcontract queries are handled by the commercial team.
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
Higgins Homes PLC is a residential property developer based in Loughton, Essex, trading as Higgins Homes. Incorporated in 1965, it designs and builds new homes and apartments across London and the South East, ranging from urban apartment schemes to family houses and sensitive restorations. The company markets completed developments directly to buyers, offering support such as part exchange, deposit boosts, stamp duty and legal fee contributions, and removal cost assistance. Its Companies House classification covers development of building projects, consistent with its role as a housebuilder rather than a construction contractor for third parties. Properties are sold with a ten year warranty from a national provider, and the company has built a reputation in the sector over more than fifty years of trading.
Generated from the company's website and Companies House records. Sources: higginshomes.co.uk · higginshomes.co.uk