Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 87.6/100 qualifies for PaymentCheck Certification
The average time for TILLERY VALLEY FOODS LIMITED to pay invoices has been decreasing over the past three periods, from 27 days in the first period to 15 days in the most recent period. However, there was a slight increase in the sixth period before it decreased again in the seventh period.
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 2% difference between the highest and lowest percentage. However, the percentage of invoices paid between 31 and 60 days has fluctuated more, with a difference of 22% between the highest and lowest percentage. The percentage of invoices paid later than 60 days has also been volatile, with a difference of 4% between the highest and lowest percentage. This suggests that TILLERY VALLEY FOODS LIMITED may struggle with consistency in paying invoices within agreed terms.
Between September 2017 and February 2021, TILLERY VALLEY FOODS LIMITED has shown a significant improvement in their payment times, decreasing from an average of 27 days to 15 days. This is reflected in the increase in the percentage of invoices paid within 30 days, which has gone from 46% to 78%. However, there was a slight dip in the sixth period where the average time to pay increased and the percentage of invoices paid later than 60 days was the highest at 4%. Overall, TILLERY VALLEY FOODS LIMITED has shown a positive trend towards paying invoices earlier and 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 Sept 2020 - 28 Feb 2021 | 30 Mar 2021 | 15 | 78% | 20% | 2% | 17% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 19 | 80% | 16% | 4% | 11% |
| 01 Sept 2019 - 29 Feb 2020 | 13 Aug 2020 | 16 | 78% | 20% | 2% | 6% |
| 01 Mar 2019 - 31 Aug 2019 | 30 Sept 2019 | 18 | 32% | 65% | 3% | 13% |
| 01 Sept 2018 - 28 Feb 2019 | 29 Mar 2019 | 20 | 72% | 28% | 0% | 15% |
| 01 Mar 2018 - 31 Aug 2018 | 28 Sept 2018 | 22 | 56% | 43% | 1% | 16% |
| 01 Sept 2017 - 28 Feb 2018 | 29 Mar 2018 | 27 | 46% | 51% | 3% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard Sodexo Ltd payment terms for vendors across all business segments are 60 days from date of invoice and 30 days for SMEs
Were there any changes to the standard payment terms in the reporting period?
Over the reporting period Sodexo has reviewed and validated all remaining vendors and amended payment terms for these vendors to 60 days, This change is aligned to Sodexo’s strategy on embedding a continuous focus on Responsible Payment Culture aligned to the Government guidelines and strategy
Any other information about payment terms
A new process is in place for onboarding new suppliers whereby SMEs are identified and put on 30 days payment terms and all other suppliers are on 60 days payment terms
Maximum contractual payment period agreed
60
Supplier payment issues that arise in the first instance are addressed by a dedicated Accounts Payable queries team within the Financial Shared Services centre. Depending on the issue, the Procurement team may be involved to resolve any disputes or issues. Sodexo ensures that the payment of its vendors and handling of queries has a high priority and has SLAs on response times. Over the last number of years we have invested in tools and technology to assist our vendor from our Shared Service Centre with OCR and supply management by providing alternative finance and ease of payment solutions.
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
Tillery Valley Foods Limited was a UK company registered under SIC code 10890, manufacture of other food products, with tagged industries covering catering, food and drink processing, and distribution and wholesale. It was originally incorporated as Keyrare Limited in 1986. The company was for a period linked to Sodexo Holdings Limited as a person with significant control, before this changed to Joubere Food Group Ltd in 2021, indicating a change in ultimate ownership. An administrator was appointed in May 2023, and the company subsequently moved from administration to dissolution, being formally dissolved following liquidation on 28 November 2024. No further detail on specific products or customers 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