PRINCES GROUP PLC exhibits a consistent trend of payments extending beyond typical 30-day terms, with an average payment time of 54 days. A significant majority, 82% of payments, fall into the 31-60 day or over 60 day categories, indicating a slower but somewhat predictable payment trajectory that deviates from prompt schedules.
While 56% of payments predictably occur within the 31-60 day window, the 26% payment rate exceeding 60 days and 23% being classified as late introduces notable volatility for a supplier's cash flow planning. This distribution suggests a moderate level of unpredictability in the precise timing of payments, posing a risk to consistent working capital management.
Suppliers should anticipate payment cycles significantly exceeding 30 days, with a high likelihood of receiving payment around the 54-day mark or later. It is recommended to factor in potential delays, manage cash flow expectations accordingly, and implement robust credit control measures to mitigate the substantial 23% late payment risk.
| 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 2023 - 31 Mar 2024 | 22 May 2024 | 54 | 18% | 56% | 26% | 23% |
| 01 Apr 2023 - 30 Sept 2023 | 01 Nov 2023 | 52 | 21% | 55% | 24% | 20% |
| 01 Oct 2022 - 31 Mar 2023 | 26 May 2023 | 52 | 18% | 53% | 29% | 8% |
| 01 Apr 2022 - 30 Sept 2022 | 01 Nov 2022 | 51 | 19% | 54% | 26% | 7% |
| 01 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 49 | 19% | 56% | 25% | 7% |
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 50 | 21% | 53% | 26% | 8% |
| 01 Oct 2020 - 31 Mar 2021 | 26 Apr 2021 | 48 | 22% | 54% | 24% | 6% |
| 01 Apr 2020 - 30 Sept 2020 | 30 Oct 2020 | 50 | 20% | 54% | 26% | 8% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 50 | 22% | 52% | 26% | 12% |
| 01 Apr 2019 - 30 Sept 2019 | 28 Oct 2019 | 53 | 18% | 53% | 29% | 20% |
| 01 Oct 2018 - 31 Mar 2019 | 02 May 2019 | 53 | 19% | 52% | 29% | 18% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 49 | 18% | 58% | 24% | 12% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Price shall be payable by Princes to the Seller before expiry of 60 days from the date of delivery.
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
90
Our standard conditions of purchase require that before resorting to legal proceedings the parties shall attempt to amicably resolve any dispute arising out of or relating to the contract through negotiations.
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
PRINCES GROUP PLC is an active Public limited Company, operating as a group of businesses. This corporate structure reflects its status as a publicly traded entity.
The company was incorporated on 15 December 1988 and is registered under company number 02328824. Its location is classified as 'Other', with its registered office situated at Royal Liver Building, Pier Head, Liverpool, L3 1NX.
As a Public limited Company in the UK, PRINCES GROUP PLC can engage in a broad spectrum of commercial activities. Organisations of this type typically offer diverse products or services through their various operational entities within the UK market.