Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Over the past three periods (April 2020 - June 2022), there has been a steady increase in the average time taken for LEASEDRIVE LIMITED to pay their invoices. This increase has been primarily driven by a significant increase in the percentage of invoices paid later than 60 days, which has more than doubled from 5% to 11%. However, there has been a slight improvement in the percentage of invoices paid within 30 days, increasing from 42% to 41%.
There is some volatility in the percentage of invoices paid between 31 and 60 days, with a high of 64% in the period of July 2021 - June 2022 and a low of 53% in the period of April 2020 - March 2021. However, the percentage of invoices paid within 30 days has remained relatively stable between 35-41% over the past three periods. The most volatile metric is the percentage of invoices paid later than 60 days, with a low of 1% in the period of April 2019 - September 2019 and a high of 11% in the period of April 2021 - June 2021.
Over the past three periods, there has been a steady increase in the average time taken for LEASEDRIVE LIMITED to pay their invoices. This is primarily driven by a significant increase in the percentage of invoices paid later than 60 days, which has more than doubled from 5% to 11%. However, there has been a slight improvement in the percentage of invoices paid within 30 days, increasing from 42% to 41%.
| 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 2022 - 31 Mar 2023 | 28 Apr 2023 | 30 | 31% | 66% | 3% | 5% |
| 01 Jul 2021 - 30 Jun 2022 | 17 Aug 2022 | 32 | 41% | 56% | 3% | 5% |
| 01 Apr 2021 - 30 Jun 2021 | 24 Aug 2021 | 28 | 35% | 64% | 1% | 6% |
| 01 Apr 2020 - 31 Mar 2021 | 14 May 2021 | 32 | 42% | 53% | 5% | 8% |
| 01 Oct 2019 - 31 Mar 2020 | 15 Jun 2020 | 27 | 72% | 27% | 1% | 1% |
| 01 Apr 2019 - 30 Sept 2019 | 03 Jan 2020 | 26 | 77% | 22% | 1% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms vary depending on the type of payment and range from 1 day to 60 days from invoice date in accordance with the relevant purchase order.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
We are currently unable to report on the date of receipt of invoices in this report. We have reported on the date of the invoice itself, as we consider this the most justifiable alternative. All invoices are paid to term unless they are in query but will be paid immediately on resolution of query.
Maximum contractual payment period agreed
60
We have a dedicated accounts payable team that offers support and advice to our suppliers on payment practices and query resolution. Our team work in close collaboration with other key stakeholders in the business and are available between 8.45am and 5.30pm either by telephone or email. We aim to resolve all queries received from Suppliers within 48 hours and are able to make same day payments where invoices are received late or disputes are resolved.
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
Leasedrive Limited is the registered entity trading as Zenith. It operates as an independent vehicle leasing, fleet management and vehicle outsourcing business, providing funding and management for company cars, commercial vehicles and salary sacrifice car schemes. Services include fleet rental, fleet funding, trailer rentals and EV fleet solutions, covering vehicle types from motorbikes to trucks and trailers. The business supports both corporate fleets and individual drivers, offering servicing, MOT booking and driver guidance through its driver hub. According to its own site, it manages over 166,000 vehicles. Companies House records confirm activities including sale of new cars and light vehicles, financial leasing, and renting and leasing of cars and light motor vehicles.
Generated from the company's website and Companies House records. Sources: zenith.co.uk · zenith.co.uk · zenith.co.uk