Ranked in 4 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time taken for FLYNN LIMITED to pay invoices has remained relatively consistent over the past three periods, with only a 3% increase between the first and last period. However, there has been a slight decrease in the percentage of invoices paid within 30 days, and an increase in the percentage of invoices paid later than 60 days.
The volatility in FLYNN LIMITED's invoice payment patterns is relatively low, with only a 3% difference between the highest and lowest average time to pay. However, there has been some volatility in the percentages of invoices paid within 30 days and between 31 and 60 days, with a 5% difference between the highest and lowest periods.
Between Aug 2020 and May 2022, FLYNN LIMITED's average time to pay invoices increased by 3%, with a slight decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days. The company has consistently maintained a 5% rate of invoices paid within 30 days and a 60% rate of invoices paid between 31 and 60 days. The shortest standard payment period for the company during this time was 7 days, with the highest percentage of invoices paid later than 60 days being 37% in the period of Aug 2021 - Nov 2021.
| 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 Dec 2021 - 31 May 2022 | 11 Jul 2022 | 61 | 5% | 60% | 35% | 13% |
| 01 Aug 2021 - 30 Nov 2021 | 29 Mar 2022 | 59 | 5% | 58% | 37% | 12% |
| 01 Feb 2021 - 31 Jul 2021 | 29 Mar 2022 | 59 | 5% | 61% | 34% | 10% |
| 01 Aug 2020 - 31 Jan 2021 | 29 Mar 2022 | 58 | 5% | 60% | 35% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for Purchase Ledger suppliers are 33, 48, 63 days from end of month of invoice. Invoices must be sent in a timely manner. Payment may delayed on invoices without proof of delivery. Statements are reconciled on a monthly basis to ensure all invoices have been received. Standard payment terms for Subcontractors are 7, 33, 48, 63 and 78 days depending on the type of supply and contractual arrangement.
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
75
Any dispute arising would involve discussion with the supplier or contractor and the Buying or Commercial Team, depending on the type of supply. Flynn Limited endeavour to settle all disputes fairly and in a timely manner.
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
Flynn Limited is a UK company registered under number 01218790, previously named John O'Flynn Developments Limited until 2019. Its registered nature of business is classified as construction of roads and motorways, indicating activity within civil engineering and road infrastructure work. The company remains active, having been incorporated in 1975 and is based in Walsall, England. No further details of specific projects, contracts or trading operations are available from the supplied evidence, though the SIC classification confirms its focus on road and motorway construction rather than general building or property development work.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk