Industry ranking
There is a clear downward trend in the average time taken for GO NORTH EAST LIMITED to pay invoices to suppliers, with each period showing a decrease in the average time taken compared to the previous period. This trend suggests that GO NORTH EAST LIMITED is making efforts to pay invoices to suppliers more promptly.
There is some volatility in the percentages of invoices paid within 30 days and between 31 and 60 days, with these percentages fluctuating between periods. However, there is a consistent trend of the percentage of invoices paid later than 60 days decreasing over time, indicating that GO NORTH EAST LIMITED is making improvements in paying invoices on time.
| 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 |
|---|---|---|---|---|---|---|
| 02 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 30 | 81% | 15% | 4% | 11% |
| 01 Jan 2023 - 01 Jul 2023 | 21 Jul 2023 | 32 | 72% | 23% | 5% | 13% |
| 03 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 34 | 74% | 21% | 5% | 11% |
| 02 Jan 2022 - 02 Jul 2022 | 28 Jul 2022 | 37 | 65% | 26% | 9% | 16% |
| 04 Jul 2021 - 01 Jan 2022 | 25 Jan 2022 | 43 | 34% | 54% | 12% | 26% |
| 03 Jan 2021 - 03 Jul 2021 | 23 Jul 2021 | 63 | 28% | 37% | 35% | 55% |
| 28 Jun 2020 - 02 Jan 2021 | 26 Jan 2021 | 46 | 16% | 72% | 12% | 41% |
| 29 Dec 2019 - 27 Jun 2020 | 17 Jul 2020 | 36 | 19% | 77% | 4% | 17% |
| 30 Jun 2019 - 28 Dec 2019 | 17 Jan 2020 | 34 | 31% | 65% | 4% | 10% |
| 29 Dec 2018 - 29 Jun 2019 | 25 Jul 2019 | 35 | 30% | 66% | 4% | 9% |
| 01 Jul 2018 - 29 Dec 2018 | 25 Jan 2019 | 33 | 35% | 62% | 3% | 8% |
| 31 Dec 2017 - 30 Jun 2018 | 23 Jul 2018 | 37 | 28% | 67% | 5% | 14% |
| 02 Jul 2017 - 30 Dec 2017 | 26 Jan 2018 | 39 | 37% | 57% | 6% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Go North East Limited, subsidiary company of The Go-Ahead Group, follow group policy and agree appropriate terms of payment with suppliers for each transaction or series of transactions, and abide by those terms once suppliers present a valid invoice. The company normally settles trade payables on 30 day terms and these invoices are paid in the week following their due date, however variations to these terms do exist based on agreements with certain suppliers. There have been no changes to the standard payment terms in the reporting period.
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
Go North East Limited is committed to paying our suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Shared Service Manager who will investigate and mitigate the issue.
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
GO NORTH EAST LIMITED is an active private limited company, incorporated on 23 September 1986, based in the North East region. Registered business activity: Other urban, suburban or metropolitan passenger land transport (not underground, metro or similar).
From Companies House records.