RICHER SOUNDS LIMITED
Company Information
- Company Number
- 01402643
- Registered Address
- Richer House, Hankey Place, London, SE1 4BB
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 29 November 1978
- Nature of Business
- 47430 - Retail sale of audio and video equipment in specialised stores
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
RICHER SOUNDS LIMITED demonstrates a consistent payment trend, with an average payment time of 30 days and 71% of invoices settled within this period. While 29% of payments extend to the 31-60 day range, there is a clear absence of payments exceeding 60 days. This trajectory indicates a predictable pattern where payments typically fall within a two-month window.
Volatility Analysis
The company exhibits high reliability and predictability in its payment behavior, with 99% of payments completed within 60 days and only 1% classified as late. The complete absence of payments over 60 days significantly reduces the risk of extreme delays for suppliers. This data suggests a stable payment environment, allowing suppliers to forecast cash flow with reasonable certainty.
Summary Analysis
RICHER SOUNDS LIMITED is a reliable payment partner, consistently paying a large majority of invoices on time and nearly all within 60 days. Suppliers should consider the 29% probability of payments extending to the 31-60 day bracket when planning cash flow. To mitigate any impact, suppliers might adjust payment term expectations or manage working capital accordingly.
Performance Reports History
| 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 |
|---|---|---|---|---|---|---|
| 05 May 2024 - 02 Nov 2024 | 19 Nov 2024 | 30 | 70% | 29% | 1% | 1% |
| 29 Oct 2023 - 04 May 2024 | 30 May 2024 | 30 | 71% | 29% | 0% | 1% |
| 30 May 2023 - 28 Oct 2023 | 22 Nov 2023 | 30 | 71% | 28% | 1% | 1% |
| 30 Oct 2022 - 29 Apr 2023 | 02 Jun 2023 | 29 | 75% | 24% | 1% | 1% |
| 01 May 2022 - 29 Oct 2022 | 02 Jun 2023 | 29 | 76% | 23% | 1% | 1% |
| 29 Oct 2018 - 04 May 2019 | 22 May 2019 | 29 | 78% | 21% | 1% | 1% |
| 29 Apr 2018 - 28 Oct 2018 | 28 Nov 2018 | 29 | 79% | 20% | 1% | 1% |
| 31 Oct 2017 - 28 Apr 2018 | 29 May 2018 | 29 | 80% | 19% | 1% | 1% |
| 30 Apr 2017 - 29 Oct 2017 | 07 Feb 2018 | 30 | 80% | 19% | 1% | 1% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Company's policy is to agree appropriate terms of payment individually with suppliers and to abide by those terms based on the timely submission of satisfactory invoices. Where no specific agreement exists the company will make payment on 30 day terms.
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
90
Dispute Resolution Process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. Disputes are directed in the first instance to our Accounts Payable team. Escalation of the dispute would be directed to the head of department that made the order or to the Finance Director or Financial Controller.
Other Payment Information
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
Company Summary
RICHER SOUNDS LIMITED is an active private limited company. Its name indicates its commercial operations are focused on products or services related to sound.
The company was incorporated on 29 November 1978 with company number 01402643. Its registered office is located in London at Richer House, Hankey Place, London, SE1 4BB.
Private limited companies operating within the sound and audio sector in the UK typically specialise in the retail, distribution, or manufacture of audio equipment. This can encompass products such as hi-fi systems, home cinema components, headphones, and other consumer electronics focused on sound reproduction. They may also provide associated services like installation or customer support.
