The average time taken for VENT-AXIA GROUP LIMITED to pay invoices has been decreasing over the past three periods, from 61 days in the first period to 58 days in the second period. However, the data for the third period is missing.
The percentage of invoices paid within 30 days has been increasing over the past three periods, from 14% in the first period to 20% in the second period. The percentage of invoices paid later than 60 days has also been decreasing, from 42% in the first period to 36% in the second period.
The average time taken for VENT-AXIA GROUP LIMITED to pay invoices has decreased by 3 days, from 61 days in the first period to 58 days in the second period. The percentage of invoices paid within 30 days has increased by 6%, from 14% in the first period to 20% in the second period. The percentage of invoices paid later than 60 days has decreased by 6%, from 42% in the first period to 36% in the second 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 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | |||||
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 58 | 20% | 44% | 36% | 61% |
| 01 Aug 2017 - 31 Jan 2018 | 26 Feb 2018 | 61 | 14% | 44% | 42% | 77% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days EOM. Shortest standard terms are 30 days and longest standard terms are 60 days EOM.
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
60
Any disputes are attempted to be resolved within the finance team before being escalated to senior management.
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
VENT-AXIA GROUP LIMITED is a leading manufacturer and supplier of ventilation and air management systems in the United Kingdom. The company was founded in 1936 and has since established itself as a trusted and reliable brand in the industry.
The company's sustainability program is focused on reducing its environmental impact and promoting sustainable practices. This includes using energy-efficient manufacturing processes, sourcing materials responsibly, and promoting recycling and waste reduction in their operations.
VENT-AXIA offers a wide range of products and services, including residential and commercial ventilation systems, heat recovery systems, and air handling units. They also provide ventilation design and installation services, ensuring their products are installed correctly and efficiently.
Key people in the company include the CEO, Paul Williams, who has been with the company since 2013 and has a wealth of experience in the building products industry. The VENT-AXIA team also includes a diverse group of engineers, designers, and technicians who work together to deliver high-quality products and services.
The company's website, www.vent-axia.com, provides information on their products, services, and sustainability efforts. Their registered office address is Newmains Avenue, Edinburgh, EH22 4PJ, United Kingdom.
In conclusion, VENT-AXIA GROUP LIMITED is a reputable and environmentally conscious company that offers a range of ventilation products and services. With a dedicated team and a strong commitment to sustainability, they continue to be a leader in the industry.