Industry ranking
Score of 80.3/100 qualifies for PaymentCheck Certification
The average time taken by VIRIDOR LIMITED to pay invoices has increased over the three periods, from 24 days to 32 days. The percentage of invoices paid within 30 days has decreased from 79% to 63%, while the percentage of invoices paid between 31 and 60 days has increased from 17% to 23%. The percentage of invoices paid later than 60 days has also increased from 5% to 14%. This suggests a trend of slower invoice payments by the company.
The volatility in the average time taken to pay invoices by VIRIDOR LIMITED has been relatively stable, with only a slight increase of 4 days over the three periods. However, there has been some fluctuation in the percentage of invoices paid within 30 days, with a decrease of 8% in the second period followed by an increase of 10% in the third period. The percentage of invoices paid between 31 and 60 days has also fluctuated, with a decrease of 1% in the second period followed by an increase of 3% in the third period. The percentage of invoices paid later than 60 days has shown the most volatility, with an increase of 4% in the second period followed by a further increase of 5% in the third period.
Over the three periods, VIRIDOR LIMITED has shown a trend of slower invoice payments, with the average time taken to pay increasing from 24 days to 32 days. This has also been reflected in the decrease in the percentage of invoices paid within 30 days and the increase in the percentage of invoices paid later than 60 days. There has been some volatility in the percentage of invoices paid within 30 days and between 31 and 60 days, but the most significant fluctuation has been in the percentage of invoices paid later than 60 days.
| 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 2023 - 30 Sept 2023 | 30 Oct 2023 | 28 | 71% | 20% | 9% | 24% |
| 01 Oct 2022 - 31 Mar 2023 | 27 Apr 2023 | 24 | 79% | 17% | 5% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The customer shall pay each invoice which is properly due and submitted within 60 days after the end of the month of receipt by the Customer of a valid undisputed invoice (the “Due Date”).
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Viridor introduced a new automated invoice process in conjunction with a new group ERP system in November 2021. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to invoices@viridor.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days below our standard terms 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website.
Maximum contractual payment period agreed
90
VIRIDOR LIMITED operates an automated invoice process. We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any dispute arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.
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
Viridor Limited is registered with Companies House under a head office classification (SIC 70100) and forms part of the wider Viridor group, a UK waste management and recycling business. The company has previously traded as Viridor Waste Limited and, before that, under names including Pennon Recreation Limited and Roadford Trading Limited. It is now controlled by Planets UK Bidco Limited and has a subsidiary, Viridor Waste Limited, within its group structure. Public contract records show it has been awarded waste disposal contracts, including work for a college and a town council. Its registered office is in Taunton, Somerset, reflecting its role as part of the Viridor waste and recycling group rather than a standalone trading operation.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk