The trend for Organix Brands Limited shows a consistent decrease in the average time taken to pay invoices over the past three periods.
The volatility for Organix Brands Limited is relatively low, with only minor changes in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days.
From Jan 2018 to Jun 2018, Organix Brands Limited had an average time to pay of 32 days and 93% of invoices were paid within 30 days. 4% of invoices were paid between 31 and 60 days, and 3% were paid later than 60 days. In this period, 0% of invoices were not paid within agreed terms.
| 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 2018 - 31 Dec 2018 | 14 Jan 2019 | 30 | 92% | 4% | 4% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 32 | 93% | 4% | 3% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are negotiated on a case by case basis
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
90
Disputes on payment terms are initially managed by purchase ledger and ultimately Head of Finance, in collaboration with relevant parties.
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
Organix Brands Limited is registered as a food wholesale business but trades as Organix, a brand producing organic food for babies and toddlers, including snacks, finger foods, oaty bars, rice cakes and biscuits made without artificial colours or flavours. Its website material shows the brand forms part of the Hero group, indicated by copyright attribution to Hero. The company develops recipes and product ranges, including a licensed Gruffalo-themed range, aimed at parents and carers of young children, alongside nutrition advice content. The registered entity's own role is that of the UK operator of the Organix brand within the wider Hero corporate group.
Generated from the company's website and Companies House records. Sources: organix.com · organix.com