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 part of the corporate structure behind the Vent-Axia ventilation business, which trades from Crawley, West Sussex, and forms part of the Volution Group. The Vent-Axia operation manufactures ventilation products, including bathroom and whole-house ventilation systems, mechanical ventilation heat recovery units, and related equipment such as electric heating, cooling and hand-drying products. Its products serve residential, commercial, public sector and industrial applications, and are supplied through several thousand electrical wholesalers and distributors across the UK. The business traces its origins to 1936 and describes itself as focused on improving indoor air quality in homes and buildings through energy-efficient ventilation technology, including heat recovery and demand control systems.
Generated from the company's website and Companies House records. Sources: vent-axia.com · vent-axia.com · vent-axia.com