There has been an overall increase in the average time taken for ORWELL TRUCKS LIMITED to pay invoices to suppliers, with an increase of 17.9% from the first period to the third period. This increase is reflected in the percentage of invoices paid within 30 days, which has decreased from 55% in the second period to 60% in the third period.
There is a slight volatility in the percentage of invoices paid within 30 days, with a decrease of 5% from the second period to the third period. However, the percentage of invoices paid between 31 and 60 days has remained relatively stable at 35% and 30% for the second and third periods respectively.
| 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 2018 - 30 Jun 2018 | 31 Jul 2018 | 40 | 55% | 35% | 10% | 71% |
| 01 Jul 2017 - 31 Dec 2017 | 03 Feb 2018 | 28 | 50% | 42% | 8% | 8% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment run on 10th of second month following invoice, weekly payment runs to catch up any omitted items.
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
70
Contact purchase ledger in the first instance, the manager who raised the order will resolve with the supplier.
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
Orwell Trucks Limited is a dormant company registered in England, incorporated on 19 April 1991. It was originally incorporated under the name Bideawhile Ninety Limited before being renamed later that year. Companies House records classify its nature of business under SIC code 99999, Dormant Company, meaning it currently carries out no trading activity. The company's status is listed as active, though with an active proposal to strike it off. No evidence is available describing any trading history, products or services once associated with the truck-related name, so its past commercial activity cannot be confirmed from the available records.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk