Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 96.8/100 qualifies for PaymentCheck Certification
The trend for THE BODY SHOP INTERNATIONAL LIMITED shows a consistent decrease in the average time taken to pay invoices over the past five periods. Additionally, there has been an improvement in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid later than 60 days.
The volatility for THE BODY SHOP INTERNATIONAL LIMITED is relatively low, with only small variations in the average time taken to pay invoices and the percentage of invoices paid within different time frames.
From 2018 to 2023, THE BODY SHOP INTERNATIONAL LIMITED has shown a steady improvement in their payment practices, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days. The best period for the company was in 2022, where 96% of invoices were paid within 30 days and only 1% were paid later than 60 days. However, in 2021, there was a slight increase in the percentage of invoices paid later than 60 days, which should be monitored and addressed to maintain the positive trend.
| 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 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 10 | 94% | 4% | 2% | 4% |
| 01 Jan 2023 - 30 Jun 2023 | 11 Aug 2023 | 8 | 94% | 4% | 2% | 3% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 9 | 96% | 3% | 1% | 4% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 46 | 48% | 33% | 19% | 48% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 20 | 78% | 15% | 7% | 17% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 16 | 84% | 11% | 5% | 38% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 13 | 88% | 8% | 4% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 16 Jul 2020 | 24 | 74% | 16% | 10% | 22% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 30 | 65% | 24% | 11% | 23% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 33 | 58% | 31% | 11% | 43% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 29 | 61% | 30% | 9% | 30% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 41 | 50% | 37% | 13% | 39% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Body Shop International Limited works to a standard set of payment terms, which are 45 days from end of month after the invoice is received for non-stock vendors and 60 days from invoice for stock vendors. Variations to standard terms exist based on agreements with suppliers, including payments for rent and utilities. The Body Shop at Home Consultants are paid within 4 to 7 days in accordance with “The Body Shop at Home Independent Consultant Agreement”.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
During the first half of 2022, The Body Shop International Limited renegotiated the standard payment terms with non-stock vendors and starting in July 2022, the standard payment terms were increased from 30 to 45 days end of month (unchanged for stock vendors). In addition, due to a new process implemented in June 2022, the frequency of payments to The Body Shop at Home Consultants increased significantly, which had a positive impact on the payment statistics.
Maximum contractual payment period agreed
90
The Body Shop International Limited ordinarily engages with suppliers under our General Terms of Purchase or other standardized supply agreements. Initially, supplier disputes should be raised with The Body Shop’s Accounts Payable team via email, who will endeavour to resolve the dispute with the supplier. Where the issue cannot be resolved, the issue will be referred to The Body Shop employee with whom the supplier has engaged for the goods or services, or directly with our International Sourcing team as appropriate. The Body Shop at Home Consultants can raise a dispute directly on The Body Shop at Home Consultant’s portal, which will be resolved directly by The Body Shop at Home team.
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
The Body Shop International Limited is the registered entity behind the Body Shop cosmetics business, active in wholesale of perfume and cosmetics and retail sale of cosmetic and toilet articles through specialised stores. Companies House records show the company is currently in administration, with its registered office handled by insolvency practitioners. A separate, more recently incorporated company, The Body Shop International Limited (company number 15859787), was previously named The Body Shop Group Limited, indicating a restructuring of the wider Body Shop corporate group. No further detail on trading operations, store numbers or online activity is confirmed by the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk