Ranked in 4 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
From March 2018 to August 2023, SPECSAVERS OPTICAL SUPERSTORES LIMITED shows a fluctuating trend in their average time to pay invoices. The trend starts at 29 days in March 2018 and gradually decreases to its lowest point of 21 days in March 2021. However, from March 2022 onwards, the trend starts to increase again, reaching 37 days in August 2023. This shows that the company has had periods of both improvement and decline in their payment efficiency over the years.
The volatility of SPECSAVERS OPTICAL SUPERSTORES LIMITED's average time to pay invoices can be seen through the fluctuating trend mentioned above. The company has experienced significant changes in their payment efficiency, with a difference of 24 days between their highest and lowest average time to pay. This shows that the company's payment process is not consistently stable and may be affected by external factors such as economic conditions and business operations.
Looking at the data for SPECSAVERS OPTICAL SUPERSTORES LIMITED, there are notable changes between the three periods. In March 2018, the company had an average time to pay of 29 days, with 71% of their invoices paid within 30 days and 21% paid between 31 and 60 days. However, their percentage of invoices paid later than 60 days was at 8%, which was the lowest among the three periods. This could be considered the best period for the company in terms of timely payments.
| 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 Sept 2025 - 28 Feb 2026 | 18 Mar 2026 | 31 | 84% | 10% | 6% | 22% |
| 01 Mar 2025 - 31 Aug 2025 | 29 Sept 2025 | 30 | 81% | 10% | 9% | 35% |
| 01 Sept 2024 - 28 Feb 2025 | 07 Mar 2025 | 38 | 77% | 12% | 11% | 28% |
| 01 Mar 2024 - 31 Aug 2024 | 09 Sept 2024 | 33 | 78% | 13% | 9% | 29% |
| 01 Sept 2023 - 29 Feb 2024 | 19 Mar 2024 | 36 | 75% | 13% | 12% | 31% |
| 01 Mar 2023 - 31 Aug 2023 | 29 Sept 2023 | 37 | 78% | 11% | 11% | 29% |
| 01 Sept 2022 - 28 Feb 2023 | 17 Mar 2023 | 52 | 72% | 13% | 15% | 34% |
| 01 Mar 2022 - 31 Aug 2022 | 26 Sept 2022 | 35 | 74% | 15% | 11% | 32% |
| 01 Sept 2021 - 28 Feb 2022 | 25 Mar 2022 | 24 | 80% | 14% | 6% | 24% |
| 01 Mar 2021 - 31 Aug 2021 | 23 Sept 2021 | 21 | 85% | 10% | 5% | 19% |
| 01 Sept 2020 - 28 Feb 2021 | 19 Mar 2021 | 25 | 81% | 10% | 9% | 28% |
| 01 Mar 2020 - 31 Aug 2020 | 14 Sept 2020 | 25 | 77% | 15% | 8% | 32% |
| 01 Sept 2019 - 29 Feb 2020 | 24 Mar 2020 | 31 | 68% | 22% | 10% | 43% |
| 01 Mar 2019 - 31 Aug 2019 | 19 Sept 2019 | 32 | 68% | 22% | 10% | 45% |
| 01 Sept 2018 - 28 Feb 2019 | 28 Mar 2019 | 36 | 66% | 21% | 13% | 67% |
| 01 Mar 2018 - 31 Aug 2018 | 30 Sept 2018 | 29 | 71% | 21% | 8% | 59% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard Payment Terms are 30 days, in addition, high volumes of monthly/quarterly Rental Payments are processed within 7 working days from Invoice upload as per Lease agreements between Specsavers Optical Superstores and Landlords. Efforts are being made with our Suppliers who currently invoice outside standard 30 days to agree to these terms. In addition, encourage Supplier to email PDF invoices to be processed in our P2P Invoice Processing solution with Basware, allowing our Suppliers to submit Invoices to one email address, meaning a central receipt of invoices into Accounts Payable from date of Invoice
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
All disputed invoices are referred back to the supplier to address and resolve. A disputed invoice is processed in our Accounting System and flagged as Disputed to ensure it is not picked up on the payment run. Once resolved and approved, the dispute flag is removed, allowing the invoice to be paid.
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
Specsavers Optical Superstores Limited is a UK registered company forming part of the Specsavers group. Companies House records list its nature of business as retail sale by opticians, development of building projects, and management of real estate on a fee or contract basis. It previously traded as Visionplus Optical Superstores Limited and, before that, Changecrest Limited. The company has been active since 1983 and files group company accounts, reflecting its role within the wider Specsavers corporate structure. Its directorships have included another Specsavers group entity, indicating an internal group relationship rather than independent trading. No further detail on day to day operations beyond these registered activities is available from the evidence supplied.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk