Score of 81.5/100 qualifies for PaymentCheck Certification
The average time taken for GEOFFREY OSBORNE LIMITED to pay invoices to suppliers has fluctuated between 42 days and 19 days over the past 6 years. The trend has been towards faster payment, with a decrease in the average time taken to pay invoices from 2018 to 2024.
The volatility in the % of invoices paid within 30 days has ranged from 29% to 76%, indicating a significant fluctuation in the company's ability to pay invoices on time. However, there has been a consistent increase in the % of invoices paid within 30 days since 2022, suggesting a positive trend towards more timely payments.
Over the past three periods, there has been a significant decrease in the average time taken for GEOFFREY OSBORNE LIMITED to pay invoices to suppliers. In the latest period (2023-04-01 to 2024-03-31), the company was able to pay invoices on average within 28 days, a 32% decrease from the first period (2018-04-01 to 2018-09-30). The % of invoices paid within 30 days has also improved, with a 7% increase from the first period to the latest period.
| 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 Apr 2023 - 30 Sept 2023 | 30 Oct 2023 | 30 | 68% | 25% | 7% | 40% |
| 01 Oct 2022 - 31 Mar 2023 | 27 Apr 2023 | 19 | 76% | 19% | 5% | 34% |
| 01 Apr 2022 - 30 Sept 2022 | 28 Oct 2022 | 30 | 64% | 23% | 13% | 43% |
| 01 Oct 2021 - 31 Mar 2022 | 25 Apr 2022 | 33 | 60% | 31% | 10% | 41% |
| 01 Apr 2021 - 30 Sept 2021 | 27 Oct 2021 | 29 | 62% | 31% | 7% | 30% |
| 01 Oct 2020 - 31 Mar 2021 | 27 Apr 2021 | 30 | 60% | 33% | 7% | 23% |
| 01 Apr 2020 - 30 Sept 2020 | 28 Oct 2020 | 31 | 60% | 33% | 7% | 26% |
| 01 Oct 2019 - 31 Mar 2020 | 29 Apr 2020 | 29 | 60% | 35% | 5% | 29% |
| 01 Apr 2019 - 30 Sept 2019 | 15 Oct 2019 | 30 | 63% | 32% | 5% | 26% |
| 01 Oct 2018 - 31 Mar 2019 | 26 Apr 2019 | 42 | 38% | 49% | 13% | 37% |
| 01 Apr 2018 - 30 Sept 2018 | 26 Oct 2018 | 47 | 29% | 51% | 20% | 38% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company has various payment terms. Purchaser ledger - These are agreed with suppliers as part of contract negotiations. Generally we have 30 days terms. For a small number of larger suppliers we have agreed terms of up to 60 days from the end of the month. Subcontract ledger - There vary be framework and contract and range from 28 days to 45 days from the date of application.
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
Disputes can be sent to the finance team (finance@osborne.co.uk) who will aim to resolve issues.
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
Geoffrey Osborne Limited is a UK-based construction and engineering company that has been in operation since 1966. The company specializes in delivering complex projects for clients across a variety of sectors, including education, healthcare, and commercial.
Sustainability is a key focus for Geoffrey Osborne Limited, and the company has implemented a number of initiatives to reduce its environmental impact. This includes investing in renewable energy sources, promoting sustainable building practices, and reducing waste through recycling and responsible procurement.
The company offers a range of services, including construction, civil engineering, mechanical and electrical engineering, and facilities management. They also have a dedicated team that specializes in heritage and conservation projects, preserving and restoring historic buildings.
Geoffrey Osborne Limited is led by a team of experienced professionals, including CEO Andy Steele and Executive Chairman Andrew Osborne. The company has won numerous awards for their work, including the RoSPA Gold Award for Health and Safety and the Considerate Constructors Scheme National Site Award.
For more information on their services and projects, including their sustainability program, interested parties can visit their website at www.gosborne.com. Their registered office address is Eastleigh House, Upper Market Street, Eastleigh, Hampshire, SO50 9FD.