The time taken for INDOMETAL (LONDON) LIMITED to pay invoices to suppliers has consistently decreased over the past three periods, from an average of 33 days in the first period to 29 days in the most recent period. Similarly, the percentage of invoices paid within 30 days has also increased from 98% to 93%.
The company's average time to pay has shown a steady decrease, with no major fluctuations or spikes. However, there has been some volatility in the percentage of invoices paid within 30 days, with a decrease of 21 percentage points in the third period compared to the second period.
INDOMETAL (LONDON) LIMITED has improved its payment efficiency over the past three periods, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. The company has consistently paid the majority of its invoices within the agreed terms, with no invoices paid later than 60 days in any of the periods analysed. However, there has been some volatility in the percentage of invoices paid within 30 days, with a significant decrease in the third 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 Jul 2019 - 31 Dec 2019 | 20 Mar 2020 | 29 | 93% | 6% | 1% | 1% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 30 | 77% | 22% | 1% | 1% |
| 01 Jul 2018 - 31 Dec 2018 | 08 Jul 2019 | 31 | 98% | 2% | 0% | 2% |
| 01 Jan 2018 - 30 Jun 2018 | 05 Jul 2019 | 33 | 98% | 2% | 0% | 3% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
most payment terms are 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
The company's director would discuss all disputes with suppliers and aim to resolve the issue as soon as possible.
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
INDOMETAL (LONDON) LIMITED is an active private limited company, incorporated on 20 February 1988, based in the London region. Registered business activity: Non-specialised wholesale trade; Management consultancy activities other than financial management.
From Companies House records.