The average time taken by BESSO LIMITED to pay invoices has decreased over the three periods, from 22 days in 2022 to 19 days in 2023. This suggests a positive trend towards early payment. However, there was a slight increase in the average time taken in the last period compared to the previous one.
The percentage of invoices paid within 30 days has fluctuated over the three periods, with a decrease of 18% in the first period to 16% in the last period. The percentage of invoices paid between 31 and 60 days has also fluctuated, with a decrease of 19% in the first period to 20% in the last period. However, the percentage of invoices paid later than 60 days has shown a consistent increase, from 0% in the first two periods to 6% in the last period. This indicates a potential issue with timely payment in the last period.
Between Jan 2022 and Jul 2023, BESSO LIMITED has shown a positive trend towards early payment, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days. However, there has been a slight increase in the average time taken and a decrease in the percentage of invoices paid within 30 days in the last period. The percentage of invoices paid later than 60 days has consistently increased over the three periods, indicating a potential issue with timely payment. The shortest or only standard payment period for BESSO LIMITED is 30 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 Jul 2023 - 31 Dec 2023 | 22 Jan 2024 | 19 | 74% | 20% | 6% | 26% |
| 01 Jan 2023 - 31 Jul 2023 | 31 Jul 2023 | 22 | 64% | 29% | 7% | 36% |
| 01 Jul 2022 - 31 Dec 2022 | 23 Jan 2023 | 21 | 81% | 19% | 0% | 19% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 22 | 82% | 18% | 0% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
All undisputed payments will be made within 30 days of receipt of a correct, valid and complete invoice.
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 disputes are investigated, reconciled and then resolved.
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
Besso Limited is a company registered in London, incorporated in 1967 and currently active. Companies House records its nature of business under SIC code 65120, non-life insurance, with the company classified within the insurance industry. The available evidence does not describe its specific trading activities beyond this classification, such as the types of insurance products or services handled. No detail on staff numbers, turnover or specific client base is provided within the supplied evidence, so this summary is limited to confirming its registration details and its formal classification as a non-life insurance business operating from central London.
Generated from the company's website and Companies House records.