Over the three periods analysed, DESIRA GROUP PLC has shown a slight increase in the average time taken to pay invoices to suppliers. The company's percentage of invoices paid within 30 days has decreased from 64% in the second period to 57% in the third period. This suggests a trend towards slightly longer payment times.
There is a relatively low level of volatility in DESIRA GROUP PLC's payment patterns, as evidenced by the consistent percentage of invoices paid within 30 days (ranging from 57% to 64%) and the low percentage of invoices paid later than 60 days (ranging from 1% to 5%). However, there is a notable increase in the percentage of invoices paid between 31 and 60 days in the third period compared to the previous two periods.
From January 2018 to December 2019, DESIRA GROUP PLC's average time to pay invoices to suppliers has increased from 25 days to 35 days. The company's best performance in terms of on-time payments was in the first period, with 59% of invoices paid within 30 days. However, the third period saw the highest percentage of invoices paid later than 60 days (5%). Overall, DESIRA GROUP PLC has shown a trend towards longer payment times with a slight decrease in the percentage of invoices paid within 30 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 Jan 2019 - 30 Jun 2019 | 23 Sept 2019 | 30 | 64% | 35% | 1% | 2% |
| 01 Jan 2018 - 31 Dec 2018 | 04 Feb 2019 | 25 | 59% | 38% | 3% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms for non-vehicle related payments are for payment at the end of the following month. However, different terms have also been accommodated. Vehicle invoices are paid roughly 3-5 days following registration as per manufacturer agreements
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
270
Disputes are managed centrally by the Accounts department and communicated to relevant locations and departments to liaise directly with suppliers.
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
Desira Group PLC is a franchised motor dealer group operating across Norfolk and Suffolk, with locations in Norwich, Diss, Great Yarmouth, Lowestoft, Kings Lynn and Bury St Edmunds. It sells new and used cars and vans for franchises including Nissan, Suzuki, Isuzu, Peugeot, Citroen, MG, Fiat, Jeep, Abarth, LEVC, OMODA, JAECOO, Geely and Changan. Alongside vehicle sales it provides servicing, MOT testing, warranty repairs, parts, tyres, and participates in the Motability scheme. It also acts as a credit broker introducing customers to lenders and as an appointed representative for general insurance distribution under FCA-regulated arrangements. The company describes itself as a family business trading for over 50 years, offering multi-point vehicle preparation, safety checks and guarantees on used vehicles.
Generated from the company's website and Companies House records. Sources: desiragroup.com · desiragroup.com