BESTWAY NORTHERN LIMITED
Company Information
- Company Number
- 02675585
- Registered Address
- 2 Abbey Road, Park Royal, London, NW10 7BW
- Status
- Active
- Employee Count
- 676.0
- Turnover
- 651424000.0
- EBITDA
- 17228000.0
Additional Details
- Website
- https://bestway.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 7 January 1992
- Nature of Business
- 46390 - Non-specialised wholesale of food, beverages and tobacco
- Industries
- Supply Chain,Manufacturing And Commerce Models
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| 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 | 31 Jan 2024 | 53 | 14% | 50% | 36% | 5% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 52 | 13% | 52% | 35% | 4% |
| 01 Jul 2022 - 31 Dec 2022 | 17 Jan 2023 | 54 | 14% | 53% | 34% | 4% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 53 | 14% | 54% | 32% | 5% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 53 | 14% | 54% | 32% | 4% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 53 | 13% | 52% | 35% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 53 | 13% | 49% | 38% | 4% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 53 | 13% | 51% | 36% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 54 | 12% | 50% | 38% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 55 | 13% | 51% | 36% | 7% |
| 01 Jul 2018 - 31 Dec 2018 | 23 Jul 2019 | 52 | 13% | 54% | 33% | 10% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Jul 2019 | 47 | 14% | 67% | 19% | 7% |
| 01 Jul 2017 - 31 Jul 2017 | 31 Jan 2018 | 47 | 14% | 68% | 18% | 26% |
Company Summary
BESTWAY NORTHERN LIMITED is a leading wholesale and retail company based in the United Kingdom
The company has a strong focus on sustainability and is committed to providing customers with high-quality products and services
The company offers a wide range of products including groceries, beverages, household items, and electrical goods
They source their products from trusted suppliers and have a stringent quality control process to ensure the best quality for their customers
BESTWAY NORTHERN LIMITED is also committed to sustainability and has implemented several initiatives to reduce their environmental impact
They have invested in energy-efficient technologies, reduce their carbon footprint, and promote responsible waste management practices
The company has a team of dedicated and experienced professionals who are responsible for the successful operation of the business
The key people include the Managing Director, Sales Director, and Finance Director
Customers can contact BESTWAY NORTHERN LIMITED through their website, which provides detailed information about their products and services
The company's registered office address is located in London, providing easy access for customers to visit and inquire about their products
In summary, BESTWAY NORTHERN LIMITED is a reputable company that is dedicated to providing high-quality products and services while also prioritizing sustainability
With a strong team of professionals and a commitment to reducing their environmental impact, the company is an excellent choice for customers looking for reliable and sustainable products
Company Review
Trend Analysis
The data shows that the average time for BESTWAY NORTHERN LIMITED to pay invoices has remained relatively stable, with a slight increase from 47 days in 2017 to 54 days in 2023. However, there has been a significant fluctuation in the percentage of invoices paid within 30 days and those paid after 60 days. The company has shown improvement in paying invoices within 30 days, with a decrease from 14% in 2017 to 14% in 2023. On the other hand, the percentage of invoices paid after 60 days has increased from 18% in 2017 to 36% in 2023.
Volatility Analysis
The data shows a high level of volatility in the percentage of invoices paid within 30 days, with a range of 12% to 14% over the course of six years. There is also a significant level of volatility in the percentage of invoices paid after 60 days, with a range of 18% to 38% over the same period.
Summary Analysis
From 2017 to 2023, BESTWAY NORTHERN LIMITED has maintained an average time of 47 to 54 days to pay invoices. There has been a slight improvement in paying invoices within 30 days, but a significant increase in paying after 60 days. The largest change was seen in the percentage of invoices paid after 60 days, with an increase of 20% between 2017 and 2023. The best period for early payment was in the first half of 2018, with 7% of invoices paid within 30 days. The worst period for late payment was in the second half of 2021, with 38% of invoices paid after 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Bestway agree standard payment terms that vary between 7 and 75 days depending on size of supplier and products they sell. Most suppliers are currently paid on weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
75
Dispute Resolution Process
Invoices in dispute go on hold, and are discussed between the Accounts Department, Trading and the Supplier. Once resolved, the invoice will go forward for payment in accordance with its normal payment terms. If resolved after the payment due date, the invoice is paid on the supplier’s next payment run.
Other Payment Information
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.
❌
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.
✅
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
