The data for Norwich Airport Limited shows a consistent decrease in the average time taken to pay invoices. From April 2018 to September 2020, the time taken to pay has decreased from 36 days to an undetermined number in March 2020. Additionally, there has been an overall improvement in the percentage of invoices paid within 30 days, increasing from 32% in April 2018 to 53% in September 2019. However, there has been a slight increase in the percentage of invoices paid between 31 and 60 days, from 63% in April 2018 to 44% in September 2019.
The data for Norwich Airport Limited shows a consistent decrease in the average time taken to pay invoices. However, there is a slight increase in the percentage of invoices paid between 31 and 60 days in September 2019 compared to April 2018. This suggests a slight increase in volatility in payment times during this period.
From the available data, it is clear that Norwich Airport Limited has made significant improvements in their payment times. The average time taken to pay invoices has decreased from 36 days in April 2018 to 28 days in September 2019. This is a decrease of 22.2% over the three periods. Additionally, there has been an improvement in the percentage of invoices paid within 30 days, increasing from 32% to 53% over the same 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 |
|---|---|---|---|---|---|---|
| 01 Oct 2019 - 31 Mar 2020 | 05 May 2020 | |||||
| 01 Apr 2019 - 30 Sept 2019 | 22 Nov 2019 | 28 | 53% | 44% | 3% | 47% |
| 01 Oct 2018 - 31 Mar 2019 | 24 Apr 2019 | 32 | 49% | 47% | 4% | 51% |
| 01 Apr 2018 - 30 Sept 2018 | 21 Nov 2018 | 36 | 32% | 63% | 5% | 68% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Most suppliers use 30 days
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
Accounts Payable in Finance Department should be contacted for any dispute regarding payments.
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
Norwich Airport Limited is a UK-based company that operates and manages the Norwich International Airport. The company's main focus is to provide safe and efficient air travel services to its customers while also promoting sustainability and minimizing its impact on the environment.
The company is committed to promoting sustainable practices in its operations and has implemented various initiatives to reduce its carbon footprint. This includes investing in energy-efficient infrastructure, promoting the use of electric vehicles, and implementing recycling and waste reduction programs.
In terms of products and services, Norwich Airport Limited offers a range of domestic and international flights to various destinations, including popular holiday destinations in Europe. They also provide a variety of services such as car parking, airport lounges, and retail and dining options for travelers.
The key people at Norwich Airport Limited include its managing director, Richard Pace, and its chairman, David Harrison. The company's registered office address is at Amsterdam Way, Norwich NR6 6JA, and their website is www.norwichairport.co.uk.
In conclusion, Norwich Airport Limited is a leading airport operator in the UK that is committed to providing sustainable and efficient air travel services. With its focus on sustainability and a range of products and services, the company continues to be a top choice for travelers in the region.