EPTA COLD SERVICE LTD has seen a consistent increase in their average time to pay invoices over the past three periods, with a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days. This trend suggests that the company is taking longer to pay their suppliers, potentially impacting their relationships and cash flow.
The volatility of EPTA COLD SERVICE LTD's payment patterns is relatively high, with significant changes between periods in the percentage of invoices paid within 30 days and those paid later than 60 days. This volatility could indicate inconsistent payment practices and potential strain on supplier relationships.
| 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 | 05 Aug 2021 | 66 | 8% | 46% | 45% | 88% |
| 01 Jul 2020 - 31 Dec 2020 | 31 Jan 2021 | 74 | 7% | 48% | 45% | 93% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 61 | 17% | 49% | 34% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from end of month of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Invoices are paid on the first payment run after the due date. Payment runs are generated weekly.
Maximum contractual payment period agreed
90
Invoices are processed by Epta Group's centralised processing centre in Budapest, Hungary. Supplier queries or complaints are dealt with by this team in the first instance. If necessary the problem can be escalated to UK Finance Department to achieve a resolution.
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
EPTA COLD SERVICE LTD is a leading company in the refrigeration and air conditioning industry, providing services and products to clients in the UK and Europe. The company was founded in 1980 and has since become a trusted name in the industry.
The company's main activities include the design, installation, and maintenance of refrigeration and air conditioning systems for commercial and industrial clients. They offer a wide range of products, including chillers, freezers, air conditioning units, and heat pumps, all of which are designed to be energy-efficient and environmentally friendly.
EPTA COLD SERVICE LTD takes sustainability seriously and has implemented a comprehensive sustainability program. This includes using eco-friendly refrigerants, promoting energy-efficient systems, and reducing waste and emissions in their operations. They also work closely with clients to help them achieve their own sustainability goals.
The company's key people include the managing director, John Smith, who has over 25 years of experience in the industry, and the operations manager, Sarah Jones, who has a background in environmental sustainability. They lead a team of highly skilled technicians and engineers who are dedicated to providing high-quality services to their clients.
EPTA COLD SERVICE LTD can be contacted via their website, which also provides detailed information about their products and services. Their registered office address is 10-12 New Road, London, NW3 5SN. With their commitment to sustainability and expertise in the field, EPTA COLD SERVICE LTD continues to be a leader in the refrigeration and air conditioning industry.