| 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 |
|---|---|---|---|---|---|---|
| 28 Apr 2019 - 27 Oct 2019 | 06 Jan 2020 | 44 | 12% | 81% | 8% | 6% |
| 01 Oct 2017 - 31 Oct 2018 | 01 Jul 2019 | 44 | 15% | 76% | 9% | 6% |
| 29 Apr 2017 - 27 Apr 2018 | 08 Oct 2019 | 44 | 12% | 80% | 8% | 5% |
| 30 Apr 2017 - 28 Oct 2017 | 01 Mar 2018 | 45 | 9% | 81% | 10% | 12% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are "End of month" following the date of the 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
120
We operate a self billing process where the supplier can view the quantity and value booked in via a web portal. Any queries are immediately sent to the relevant department and resolved within 24 hours.
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
Magna Specialist Confectioners Limited, registered in Telford, Shropshire, manufactures moulded chocolate confectionery. It operates as a chocolate co-manufacturer, producing precision-made chocolate products supplied to other businesses in the confectionery industry rather than selling under its own consumer brand. The company describes itself as technologically advanced, with investment in innovative chocolate moulding processes and a lean, agile production structure. According to its own figures, it converted 24,000 tons of chocolate during 2024 and has invested £64 million over the preceding three years. Its output feeds into products seen on store shelves, though the company itself operates largely behind the scenes as a manufacturing partner to other confectionery businesses.
Generated from the company's website and Companies House records. Sources: magna.co.uk