The average time taken for MACHINE MART LIMITED to pay invoices has increased from 36 days in Jun 2017 to 38 days in May 2019. The percentage of invoices paid within 30 days has decreased from 54% to 50% over the same period. There has been a slight increase in the percentage of invoices paid later than 60 days, from 7% to 7.3%.
The volatility in the time taken for MACHINE MART LIMITED to pay invoices has been relatively low, with an average change of only 1 day over the three periods analysed. The percentage of invoices paid within 30 days has also remained stable, with a maximum change of 4% between periods. However, there has been a slight increase in volatility for the percentage of invoices paid later than 60 days, with a maximum change of 0.3% between periods.
In the last three periods, MACHINE MART LIMITED has shown a slight increase in the time taken to pay invoices, with an average of 37 days. However, there has been a decrease in the percentage of invoices paid on time, with only 50% paid within 30 days. The company has also seen a slight increase in the percentage of invoices paid later than 60 days, with 7.3% not paid within agreed terms.
| 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 Dec 2018 - 31 May 2019 | 10 Dec 2019 | 38 | 50% | 43% | 7% | 14% |
| 01 Dec 2017 - 31 May 2018 | 17 Oct 2018 | 37 | 53% | 39% | 8% | 16% |
| 01 Jun 2017 - 30 Nov 2017 | 13 Feb 2018 | 36 | 54% | 39% | 7% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 Days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
All invoices are given to the appropriate Departmental Manager for approval. Any disputed invoices are notified to the relevant supplier and resolved as soon as possible.
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
Machine Mart Limited trades as Machine Mart, a specialist retailer of tools, machinery and equipment. It operates a UK-wide chain of stores alongside an online shop, offering power tools, hand tools, air compressors, generators, welding equipment, pressure washers, garage equipment, storage solutions and related accessories under brands including Clarke, DeWalt, Makita, Ryobi and Bosch. The company also provides click and collect, next day delivery, parts and service support, and payment options. Its offering spans DIY, trade and industrial customers, covering categories such as construction tools, automotive equipment, workshop storage, heating and ventilation products, and welding supplies. It describes itself as Britain's specialist tools and equipment superstore chain.
Generated from the company's website and Companies House records. Sources: machinemart.co.uk