The average time taken for COUNTRY STYLE FOODS LIMITED to pay invoices has remained relatively consistent, with a slight decrease from 41 days in the first two periods to 39 days in the third period. The percentage of invoices paid within 30 days has also remained consistent at around 15-18%, while the percentage of invoices paid between 31 and 60 days has increased from 70% to 75%. However, there has been a decrease in the percentage of invoices paid later than 60 days, from 12% in the first period to 10% in the third period. This suggests that the company has improved in terms of timely payments, but there is still room for improvement.
The volatility in the time taken for COUNTRY STYLE FOODS LIMITED to pay invoices is relatively low, with only a two-day decrease in the third period compared to the first two periods. However, there has been more volatility in the percentage of invoices paid within 30 days, with a 8% decrease in the second period and a 5% increase in the third period. The percentage of invoices paid between 31 and 60 days has also shown some volatility, with a 10% increase in the second period and a 5% decrease in the third period. Overall, there is some volatility in the company's payment patterns, but it is not significant.
In the first two periods, COUNTRY STYLE FOODS LIMITED took an average of 41 days to pay invoices, with only 10-18% paid within 30 days. However, in the third period, there was a slight improvement as the company reduced the average time taken to pay invoices to 39 days and increased the percentage of invoices paid within 30 days to 15%. There was also a decrease in the percentage of invoices paid later than 60 days, indicating further progress towards more timely payments. However, there is still room for improvement as 25% of invoices were paid between 31 and 60 days, and 10% were 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 |
|---|---|---|---|---|---|---|
| 30 Oct 2017 - 30 Apr 2018 | 30 May 2018 | 41 | 10% | 80% | 10% | 5% |
| 30 Apr 2017 - 29 Oct 2017 | 29 Nov 2017 | 41 | 18% | 70% | 12% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are agreed with each supplier and payments are made according to these terms
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
14
We seek early resolution of any issues arising in accordance with recognised best practice
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
COUNTRY STYLE FOODS LIMITED is a company, based in the Yorkshire and The Humber region.
From Companies House records.