Ranked in 2 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 INDUSTRIAL WATER JETTING SYSTEMS LIMITED to pay invoices has fluctuated over the past three periods. In the first period, from Apr 2020 to Mar 2021, the average time to pay was 42 days. This increased to 55 days in the second period, from Apr 2021 to Mar 2022. However, in the most recent period, from Apr 2022 to Sep 2023, the average time to pay decreased to 25 days.
The volatility of INDUSTRIAL WATER JETTING SYSTEMS LIMITED's payment habits can be seen in the significant changes in the percentage of invoices paid within 30 days and later than 60 days. In the first period, 23% of invoices were paid within 30 days, while in the second period, this decreased to 20%. However, in the most recent period, the percentage of invoices paid within 30 days increased to 77%. On the other hand, in the first and second periods, 12% and 37% of invoices were paid later than 60 days, respectively. This significantly decreased to only 5% in the most recent period.
INDUSTRIAL WATER JETTING SYSTEMS LIMITED has shown improvement in their payment habits in the most recent period, from Apr 2022 to Sep 2023. The average time to pay decreased from 55 days to 25 days, and the percentage of invoices paid within 30 days increased from 18% to 77%. However, the percentage of invoices paid later than 60 days is still relatively high at 5%. The company's best period for timely payments was from Oct 2021 to Mar 2022, with 79% of invoices paid within 30 days. On the other hand, their worst period was from Apr 2021 to Mar 2022, with 37% of invoices paid later than 60 days.
| 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 Apr 2023 - 30 Sept 2023 | 31 Oct 2023 | 24 | 77% | 18% | 5% | 21% |
| 01 Oct 2022 - 31 Mar 2023 | 26 Apr 2023 | 26 | 68% | 26% | 6% | 31% |
| 01 Apr 2022 - 30 Sept 2022 | 28 Oct 2022 | 23 | 71% | 22% | 7% | 42% |
| 01 Oct 2021 - 31 Mar 2022 | 28 Apr 2022 | 14 | 79% | 16% | 5% | 38% |
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 55 | 18% | 46% | 37% | 82% |
| 03 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 43 | 20% | 68% | 12% | 76% |
| 01 Apr 2020 - 02 Oct 2020 | 30 Oct 2020 | 41 | 23% | 69% | 8% | 60% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
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
If the invoice value/quantity differs from the purchase order, the invoice will be placed in query and the supplier is contacted.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Industrial Water Jetting Systems Limited trades as IWJS Ltd, providing sewer services, waste management and industrial cleaning to essential infrastructure across the UK. The company states it has over 40 years' experience delivering these services around the clock, all year. Its offering includes jetting and cleansing, blockage removal, tankering, CCTV pipeline and asset inspection, tunnel cleaning, sewer rehabilitation and septic tank cleaning. It operates nationally across sectors including water and wastewater, utilities, construction, industry and commercial, highways, local government, civil engineering and healthcare, supporting critical infrastructure networks through both reactive contracts and larger projects.
Generated from the company's website and Companies House records. Sources: iwjs.dns-systems.net