The average time to pay for FASTNET FISH LIMITED has remained relatively consistent over the past three periods, with a slight increase from 51 days to 52 days. However, there has been a noticeable increase in the percentage of invoices paid later than 60 days, from 26% in the first period to 35% in the most recent period.
The volatility in average time to pay for FASTNET FISH LIMITED has been minimal, with only a 1-day difference between the first and most recent periods. However, there has been a significant increase in the volatility of the percentage of invoices paid later than 60 days, with a 9% increase from the first to 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 |
|---|---|---|---|---|---|---|
| 01 Apr 2019 - 30 Sept 2019 | 31 Oct 2019 | 52 | 18% | 47% | 35% | 63% |
| 01 Oct 2018 - 31 Mar 2019 | 09 Jul 2019 | 51 | 24% | 49% | 27% | 68% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 53 | 19% | 55% | 26% | 72% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Fastnet Fish Limited do not have standard payment terms, as these are individually agreed with each UK and overseas supplier during the contractual negotiation period. The maximum payment period we have agreed to in a qualifying contract entered into in the reporting period is 180 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
In arriving at the reported statistics, the ‘receipt of invoice date’ has been taken to be the date when goods arrive on site for supply contracts, and the invoice date for agent contracts. The payment date is the date when payment has been made by Fastnet Fish Ltd. The report includes intercompany transactions
Maximum contractual payment period agreed
180
Disputes with suppliers are dealt with the buyer/trader who is responsible for that particular supplier contract, either through email or phone. If Fastnet Fish Limited dispute an invoice, we aim to promptly inform and negotiate with the supplier to reach a mutually acceptable outcome.
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
Fastnet Fish Limited is a UK-registered company based in Hessle, Hull, incorporated in 1987 under the name Fastnet Fish (Holdings) Limited before adopting its current name later that year. Companies House records its nature of business under the SIC code for marine fishing. Its registered office is shared with Andrew Marr International Limited, a related fish trading business at the same Hessle address. No further public description of its trading activities, products or customers is available beyond this classification. The company remains active, with accounts and confirmation statements filed up to date according to Companies House records.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk