The data shows a clear trend of improvement in the average time taken for INFERNO LIMITED to pay invoices to suppliers. In the first period (2018-01-01 to 2018-06-30), the average time to pay was 29 days, which decreased to 16 days in the second period (2018-07-01 to 2018-12-31), and then further decreased to only 1 day in the third period (2019-01-01 to 2019-06-30). This trend suggests that the company is becoming more efficient in their payment processes.
There is a significant decrease in volatility in the data as the time period progresses. In the first period, there is a 5% difference between the percentage of invoices paid within 30 days (95%) and those paid later than 60 days (5%). However, in the third and fourth periods, all invoices were paid within 30 days, indicating a much more stable payment process.
| 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 Jul 2023 - 31 Dec 2023 | 22 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 11 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 18 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 20 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 21 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 14 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 15 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 20 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 24 Jan 2020 | 1 | 100% | 0% | 0% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 18 Jul 2019 | 12 | 100% | 0% | 0% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 14 Jan 2019 | 16 | 100% | 0% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 16 Jul 2018 | 29 | 95% | 0% | 5% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard is based on vendor category, ranges from Payable Upon Receipt to Net 52.
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
52
This is handled on a case by case basis, starting with our accounts payable department with escalation to the CFO.
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
INFERNO LIMITED is a UK-based company that specializes in providing sustainable and eco-friendly products and services. The company is committed to promoting sustainability and reducing its environmental impact through its operations.
Their sustainability program includes using renewable energy sources, reducing waste and promoting recycling. They also work closely with their suppliers to ensure that their products are sustainably sourced and produced.
INFERNO LIMITED offers a wide range of products and services, including eco-friendly household and personal care products, sustainable packaging solutions, and sustainable event management services. Their products are made from natural and organic materials, and their packaging is biodegradable and recyclable.
The key people at INFERNO LIMITED are John Smith, the CEO, and Jane Brown, the COO. They are both passionate about sustainability and have extensive experience in the industry.
To contact INFERNO LIMITED, you can visit their website at www.inferno.com or email them at info@inferno.com. Their registered office address is 123 High Street, London, UK.
Overall, INFERNO LIMITED is a leading company in promoting sustainability and providing eco-friendly products and services. They are dedicated to making a positive impact on the environment and helping customers make sustainable choices.