Industry ranking
The trend for London General Transport Services Limited in terms of average time to pay invoices has been decreasing over the past three periods. In 2017-2018, the average time to pay was 41 days, which decreased to 38 days in 2018-2019 and further decreased to 30 days in 2019-2020. However, it increased slightly to 33 days in 2020-2021 and remained the same in 2021-2022 and 2022-2023.
The volatility for London General Transport Services Limited in terms of average time to pay invoices has been relatively stable over the past three periods, with a range of 3 days. The highest average time to pay was 41 days in 2017-2018 and the lowest was 30 days in 2019-2020.
In 2022-2023, London General Transport Services Limited had the lowest average time to pay invoices, with an average of 31 days. This is a decrease from the previous period, where the average time to pay was 33 days. In terms of percentage of invoices paid within 30 days, the company had a high percentage of 62% in 2022-2023, which is an improvement from the previous period where the percentage was 57%. However, the company also had a higher percentage of invoices paid later than 60 days in 2022-2023 at 36%, compared to 41% in the previous 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 |
|---|---|---|---|---|---|---|
| 02 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 31 | 57% | 41% | 2% | 6% |
| 01 Jan 2023 - 01 Jul 2023 | 21 Jul 2023 | 31 | 62% | 36% | 2% | 7% |
| 03 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 33 | 53% | 44% | 3% | 11% |
| 02 Jan 2022 - 02 Jul 2022 | 28 Jul 2022 | 32 | 47% | 51% | 2% | 8% |
| 04 Jul 2021 - 01 Jan 2022 | 25 Jan 2022 | 33 | 39% | 58% | 3% | 8% |
| 03 Jan 2021 - 03 Jul 2021 | 23 Jul 2021 | 33 | 40% | 57% | 3% | 8% |
| 28 Jun 2020 - 02 Jan 2021 | 26 Jan 2021 | 34 | 38% | 60% | 2% | 8% |
| 29 Dec 2019 - 27 Jun 2020 | 17 Jul 2020 | 33 | 43% | 55% | 2% | 7% |
| 30 Jun 2019 - 28 Dec 2019 | 17 Jan 2020 | 30 | 60% | 39% | 1% | 4% |
| 29 Dec 2018 - 29 Jun 2019 | 25 Jul 2019 | 30 | 62% | 36% | 2% | 5% |
| 01 Jul 2018 - 29 Dec 2018 | 25 Jan 2019 | 38 | 16% | 79% | 5% | 13% |
| 31 Dec 2017 - 30 Jun 2018 | 23 Jul 2018 | 41 | 29% | 68% | 3% | 7% |
| 02 Jul 2017 - 30 Dec 2017 | 26 Jan 2018 | 41 | 38% | 58% | 4% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
London General Transport Services Limited, subsidiary company of The Go-Ahead Group, follow group policy and agree appropriate terms of payment with suppliers for each transaction or series of transactions, and abide by those terms once suppliers present a valid invoice. The company normally settles trade payables on 30 day terms and these invoices are paid in the week following their due date, however variations to these terms do exist based on agreements with certain suppliers. There have been no changes to the standard payment terms in the reporting period.
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
London General Transport Services Limited is committed to paying our suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Shared Service Manager who will investigate and mitigate the issue.
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
London General Transport Services Limited is registered as an urban, suburban and metropolitan passenger land transport operator under SIC code 49319. Companies House records show its directors are correspondence-linked to The Go-Ahead Group Limited and related Go-Ahead subsidiaries such as Go North West, indicating it operates as part of the Go-Ahead Group's bus operations. The company, incorporated in 1988, remains an active private limited company registered in Newcastle upon Tyne. No separate trading website or operational description was supplied, so its activities are understood through its Companies House classification and its directors' links to the wider Go-Ahead bus group, within which it functions as an operating subsidiary providing local passenger transport services.
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