Score of 95.8/100 qualifies for PaymentCheck Certification
The average time taken for CHICKEN CABINS LIMITED to pay invoices has decreased over the past three periods, from 25 days in 2019 to 22 days in 2023. This trend suggests that the company has been paying invoices more promptly.
The volatility of CHICKEN CABINS LIMITED's invoice payment time has been relatively low, with only a 3-day difference between the highest and lowest average time to pay over the past three periods.
In the past three periods, CHICKEN CABINS LIMITED has shown consistent improvement in their invoice payment time. The company's average time to pay has decreased from 25 days in 2019 to 22 days in 2023. This improvement is also reflected in the percentage of invoices paid within 30 days, which has increased from 88% in 2019 to 97% in 2023. Additionally, the company has maintained a low percentage of invoices paid later than 60 days, with a maximum of 2% in 2023.
| 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 | 30 Jan 2024 | 22 | 97% | 3% | 0% | 1% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 23 | 90% | 10% | 2% | 2% |
| 01 Jul 2022 - 31 Dec 2022 | 21 Feb 2023 | 21 | 97% | 3% | 0% | 2% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 22 | 96% | 4% | 0% | 2% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 25 | 88% | 11% | 1% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are that all approved invoices will be paid within 45 days, unless other terms have been individually agreed. However, the majority of suppliers are paid sooner.
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
45
Every effort will be made to resolve a dispute at first point of contact within the business. If unfortunately, a dispute is not immediately resolved it will be escalated as follows: Email acknowledgement within 2 working days Investigation to resolution within 21 working days
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
Chicken Cabins Limited is a UK-registered company, incorporated in 1965 and classified under unlicensed restaurants and cafes. The evidence gathered under this record links to KFC's UK and Ireland website and history, which states that KFC opened its first UK restaurant in 1965, the same year this company was incorporated, and now operates over 1,000 restaurants across the UK and Ireland. This suggests the entity is connected to the KFC franchise structure in the UK, though its precise operational role is not detailed. The wider KFC business serves fried chicken meals for dine-in, takeaway, delivery and drive-thru across its restaurant network.
Generated from the company's website and Companies House records. Sources: kfc.co.uk · kfc.co.uk