There has been a slight improvement in the average time taken for LEICESTER CITYBUS LIMITED to pay invoices to suppliers over the past three periods, with a decrease from 61 days to 59 days. However, the trend in % Invoices paid within 30 days has remained relatively consistent, with a slight increase from 17% to 26%. The biggest change has been in the % Invoices paid between 31 and 60 days, which has decreased from 35% to 27%. There has also been a decrease in the % Invoices paid later than 60 days, from 48% to 47%. Additionally, there has been a significant improvement in % Invoices not paid within agreed terms, with a decrease from 45% to 6%.
There has been some volatility in the data for LEICESTER CITYBUS LIMITED over the past three periods. The average time taken to pay invoices has fluctuated between 59 and 61 days, with a decrease in the most recent period. The % Invoices paid within 30 days has also fluctuated between 17% and 26%, with a slight increase in the most recent period. The % Invoices paid between 31 and 60 days has shown the most volatility, with a decrease from 35% to 27% in the most recent period. The % Invoices paid later than 60 days has remained relatively consistent, with a small decrease in the most recent period. The biggest change has been in the % Invoices not paid within agreed terms, with a significant decrease from 45% to 6% in the most recent period.
| 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 |
|---|---|---|---|---|---|---|
| 31 Mar 2019 - 30 Sept 2019 | 28 Oct 2019 | 59 | 26% | 27% | 47% | 6% |
| 01 Oct 2018 - 30 Mar 2019 | 23 Apr 2019 | 61 | 21% | 28% | 51% | 16% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 61 | 17% | 35% | 48% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company’s standard payment terms are 90 days from date of valid invoice. It is the Group’s policy to agree appropriate payment terms for each transaction or series of transactions, and to abide by those terms on the submission of a valid invoice. The Company regularly agrees variations to the standard terms with individual suppliers depending on the nature of the goods/services and other circumstances.
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
The Company is committed to dealing with suppliers in a fair, consistent and transparent manner. We seek to resolve any invoice queries as quickly as possible between the Accounts Payable team and the relevant supplier. If a dispute cannot be resolved it is escalated to the relevant Head of Department and Procurement.
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
Leicester Citybus Limited is a registered company operating in urban and suburban passenger land transport, originally incorporated as Leicester City Transport Limited before adopting its current name shortly after incorporation. Companies House records its business activity as other urban, suburban or metropolitan passenger land transport and other passenger land transport, indicating operation of local bus services. The registered office is in Leicester, and the company forms part of a wider group structure, with directors linked to a London correspondence address associated with a national bus operating group. The company remains active, with several charges registered against it over the years in favour of banks and finance providers, some still outstanding, reflecting financing arrangements typical of a bus operating business.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk