Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 83.6/100 qualifies for PaymentCheck Certification
The data for FRIDAYS LIMITED shows a consistent trend of paying invoices within an average of 24 days in the periods between 2018 and 2021. However, there was a slight increase in the average time to pay in 2019, with an average of 27 days. This trend then decreased in the following periods, reaching the lowest average time to pay of 22 days in the most recent period of 2021.
The data for FRIDAYS LIMITED shows a low volatility in terms of the average time to pay, with only a 5-day difference between the highest and lowest average time to pay. There is also a consistent pattern in the percentage of invoices paid within 30 days, with a range of 77-79%. However, there is a slight increase in volatility in the percentage of invoices paid between 31-60 days, with a range of 17-19%, and in the percentage of invoices paid later than 60 days, with a range of 3-6%.
Between the three periods analysed, there were no major changes in the average time to pay for FRIDAYS LIMITED. However, there was a decrease in the percentage of invoices paid within 30 days in 2019, with a decrease of 3%. This was also reflected in an increase in the percentage of invoices paid later than 60 days, with an increase of 2%. The most recent period of 2021 shows a slight improvement in both these areas, with an increase of 1% in invoices paid within 30 days and a decrease of 1% in invoices paid later than 60 days. It is worth noting that in all periods, the percentage of invoices paid within the agreed terms (30 days) was consistently high, ranging from 75-79%.
| 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 Jan 2021 - 30 Jun 2021 | 16 Aug 2021 | 22 | 77% | 19% | 4% | 20% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jul 2020 | 24 | 78% | 17% | 5% | 19% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2020 | 27 | 75% | 19% | 6% | 22% |
| 01 Jul 2018 - 31 Dec 2018 | 04 Jul 2019 | 24 | 78% | 18% | 4% | 20% |
| 01 Jan 2018 - 30 Jun 2018 | 09 Jul 2018 | 24 | 79% | 18% | 3% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Suppliers are categorised as either agricultural or general. Payment terms for agricultural suppliers are set at 21 days. Payment terms for other suppliers vary between 21 days from invoice receipt, and 60 days from month end, with the most frequent terms being 30 days from month end.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No
Maximum contractual payment period agreed
90
If an invoice is in dispute, the supplier is contacted to discuss and resolve the query. If credit is due, the invoice is held until a credit is received or a debit note is raised to allow the payment to be made.
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
Fridays Limited is a food producer based in Cranbrook, Kent. The company produces fresh shell eggs, including free range eggs, alongside chilled products such as sandwich fillings and salads, supplying markets across the South East of England. It describes itself as one of the biggest investors in free range farming in the UK and has developed plans to expand into free range and barn egg farming, including a proposed free range egg farm site. The company supplies chilled and shell egg products to trade customers and highlights its commitment to responsible farming practices, workplace standards and environmental responsibility across its operations.
Generated from the company's website and Companies House records. Sources: fridays.co.uk