The average time taken for RELIANCE WORLDWIDE CORPORATION (UK) LIMITED to pay invoices has fluctuated over the past three periods, with a slight increase in the most recent period.
The percentage of invoices paid within 30 days has remained relatively stable, while the percentage of invoices paid between 31 and 60 days has fluctuated between 50-56%. The percentage of invoices paid later than 60 days has also fluctuated, with the highest being 44% in the first period and the lowest being 34% in the most recent period.
From Jul 2020 to Jun 2021, RELIANCE WORLDWIDE CORPORATION (UK) LIMITED has seen a slight improvement in their payment process, with the average time to pay decreasing from 59 days to 55 days. The percentage of invoices paid within 30 days has slightly increased from 10% to 11%, while the percentage of invoices paid between 31 and 60 days has significantly increased from 46% to 56%. However, there has been a decrease in the percentage of invoices paid later than 60 days from 44% to 33%.
| 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 2023 - 30 Jun 2023 | 15 Sept 2023 | 57 | 15% | 47% | 38% | 21% |
| 01 Jul 2022 - 31 Dec 2022 | 17 Apr 2023 | 56 | 14% | 52% | 35% | 18% |
| 01 Jan 2022 - 30 Jun 2022 | 17 Apr 2023 | 55 | 13% | 53% | 34% | 18% |
| 01 Jul 2021 - 31 Dec 2021 | 17 Apr 2023 | 59 | 11% | 50% | 39% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 55 | 11% | 56% | 33% | 13% |
| 01 Jul 2020 - 31 Dec 2020 | 08 Feb 2021 | 59 | 10% | 46% | 44% | 47% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
RWC do not have standard payment terms. Specific payment terms are agreed with each supplier. RWC do not change payments terms without the prior agreement of its suppliers.
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
96
Invoice disputes are managed by the Accounts Payable team. The supplier can escalate any unresolved matters to the Purchasing 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
This Companies House record was formerly known as John Guest Limited, having traded under that name from 1982 until being renamed Reliance Worldwide Corporation (UK) Limited in 2019. It is registered as a manufacturer of other plastic products, with its business classified under parts and components. The company is based in West Drayton, Middlesex, where it holds its registered office. It forms the UK entity within the wider Reliance Worldwide Corporation group. Historical charges registered against the company relate to freehold and leasehold industrial premises around Horton Road, West Drayton, consistent with a manufacturing site. The company remains active, with accounts and confirmation statements filed up to date.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk