The data for MAXUS COMMUNICATIONS (UK) LIMITED shows a concerning trend of increasing time taken to pay invoices to suppliers. In the first period (Jan 2018 to Jun 2018), the average time to pay was 56 days, with 36% of invoices being paid later than 60 days. This increased to an average time of 51 days in the second period (Jul 2018 to Dec 2018), with 33% of invoices being paid later than 60 days. However, in the most recent period (Jan 2022 to Jun 2022), the average time to pay has skyrocketed to 1120 days, with 100% of invoices being paid later than 60 days. This is a worrying trend that needs to be addressed by the company.
The data for MAXUS COMMUNICATIONS (UK) LIMITED shows a high level of volatility in their payment patterns. In the first two periods, there was a significant increase in the percentage of invoices paid between 31 and 60 days, from 25% to 38%. However, in the most recent period, this percentage has dropped back down to 0%, while the percentage of invoices paid later than 60 days has increased dramatically from 33% to 100%. This highlights a lack of consistency in the company's payment practices, which could be causing issues for their suppliers.
In the first two periods, MAXUS COMMUNICATIONS (UK) LIMITED showed some improvement in their payment practices, with a slight decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, in the most recent period, there has been a drastic decline, with the average time to pay increasing to 1120 days and no invoices being paid within 30 days. The company needs to address this trend and take steps to improve their payment practices to ensure timely payments to their suppliers.
| 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 2022 - 30 Jun 2022 | 05 Aug 2022 | 1120 | 0% | 0% | 100% | 100% |
| 01 Jul 2018 - 31 Dec 2018 | 13 Feb 2019 | 51 | 29% | 38% | 33% | 39% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 56 | 39% | 25% | 36% | 46% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We pay our media vendors in line with industry standards, dependant on media type, which are between 25 and 60 days from receipt of a valid invoice following the end of the month of media activity. Where appropriate, vendors are required to also provide supporting documentation confirming media activity has run.
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
60
We have a defined dispute resolution process to ensure that all supplier invoices are processed as efficiently as possible. Suppliers are provided with details of the issues that may affect the processing of their invoices and assistance by providing guidance on what is to be provided on their invoices to ensure payment can be made in a timely manner. Our AP helpdesk offers suppliers support through to query resolution and can be contacted via a dedicated e-mail address or phone number. All invoices that are in query are logged and if unresolved at the time of supplier payment, details of the reasons for payment delay are communicated to the relevant 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
Maxus Communications (UK) Limited is a UK-registered company classified under advertising agencies. It was previously named 20/20 Media Limited and later BJK & E Media Limited before adopting its current name. Companies House records show it is controlled by Wpp Samson Limited, indicating it forms part of the WPP group of advertising and marketing businesses. The company's filings do not detail specific campaigns or clients. As of the latest records, the company is active, though a voluntary strike-off action had been filed and subsequently suspended, and its accounts and confirmation statement are shown as overdue.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk