Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time for SOLWAY FOODS LIMITED to pay invoices has been decreasing over the past three periods, from 64 days in 2017-2018 to 45 days in 2023. This indicates that the company has been paying invoices more quickly over time.
The percentage of invoices paid within 30 days has fluctuated the most over the past three periods, with a decrease of 4% from 2017-2018 to 2018-2019, followed by an increase of 6% from 2019-2020 to 2020-2021.
The average time for SOLWAY FOODS LIMITED to pay invoices has decreased by 19 days over the past three periods. The company has also improved in paying invoices within 30 days, with an increase of 19% from 2017-2018 to 2020-2021. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 57% in 2017-2018 to 59% in 2022-2023.
| 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 Aug 2025 - 31 Jan 2026 | 09 Mar 2026 | 57 | 33% | 16% | 51% | 32% |
| 01 Feb 2025 - 31 Jul 2025 | 05 Sept 2025 | 50 | 38% | 24% | 38% | 66% |
| 01 Aug 2024 - 31 Jan 2025 | 21 Feb 2025 | 50 | 38% | 25% | 37% | 67% |
| 01 Feb 2024 - 31 Jul 2024 | 02 Sept 2024 | 49 | 41% | 26% | 33% | 66% |
| 01 Aug 2023 - 31 Jan 2024 | 27 Feb 2024 | 47 | 40% | 28% | 32% | 64% |
| 01 Feb 2023 - 31 Jul 2023 | 08 Sept 2023 | 45 | 44% | 25% | 31% | 70% |
| 01 Aug 2022 - 31 Jan 2023 | 08 Sept 2023 | 46 | 47% | 21% | 32% | 70% |
| 01 Feb 2022 - 31 Jul 2022 | 16 Sept 2022 | 39 | 45% | 27% | 29% | 64% |
| 01 Aug 2021 - 31 Jan 2022 | 03 Mar 2022 | 47 | 42% | 21% | 38% | 65% |
| 01 Feb 2021 - 31 Jul 2021 | 31 Aug 2021 | 46 | 41% | 20% | 39% | 67% |
| 01 Aug 2020 - 31 Jan 2021 | 01 Mar 2021 | 45 | 44% | 18% | 37% | 69% |
| 01 Feb 2020 - 31 Jul 2020 | 24 Sept 2020 | 49 | 40% | 20% | 40% | 71% |
| 01 Aug 2019 - 31 Jan 2020 | 27 Feb 2020 | 50 | 34% | 25% | 41% | 67% |
| 01 Feb 2019 - 31 Jul 2019 | 22 Aug 2019 | 48 | 38% | 20% | 42% | 69% |
| 01 Aug 2018 - 31 Jan 2019 | 25 Feb 2019 | 57 | 32% | 22% | 46% | 74% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 65 | 22% | 21% | 57% | 78% |
| 01 Aug 2017 - 31 Jan 2018 | 27 Feb 2018 | 64 | 22% | 21% | 57% | 73% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We shall pay the price of the goods and the services on our first working day following the end of the third month following receipt of a correctly constituted VAT invoice or, if later, upon our acceptance of the goods or services in question.
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
120
Invoices are matched on receipt and disputed invoices notified to the supplier. Disputes are managed directly between the supplier and site and resolved items are then reprocessed.
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
Solway Foods Limited is a private limited company registered in England, based at Trinity Park House, Fox Way, Wakefield, West Yorkshire. It was incorporated in November 1987, briefly trading as Standrare Limited before adopting its current name. Companies House records its nature of business under SIC codes covering other processing and preserving of fruit and vegetables, and manufacture of prepared meals and dishes, indicating it operates in food processing and prepared meal production. The company remains active, with accounts and confirmation statements filed up to date. No further detail on specific products, brands or customers is available from the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk