Score of 94.7/100 qualifies for PaymentCheck Certification
There has been a general decrease in the average time taken for AMSRIC FOODS LIMITED to pay invoices over the past three periods. This trend is reflected in the decreasing percentages of invoices paid later than 60 days and not paid within agreed terms. However, there has been a slight increase in the percentage of invoices paid between 31 and 60 days in the most recent period.
The data shows some volatility in the average time taken for AMSRIC FOODS LIMITED to pay invoices, with fluctuating percentages in each category. The company has shown improvement in paying invoices within the agreed terms, with a significant increase in the percentage of invoices paid within 30 days in the most recent period.
From December 4, 2017 to May 30, 2021, AMSRIC FOODS LIMITED has improved its average time to pay invoices from 45 days to 23 days. This is reflected in the increase in the percentage of invoices paid within 30 days, which has consistently been above 70% since December 2018. However, there was a slight increase in the percentage of invoices paid between 31 and 60 days in the most recent period.
| 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 |
|---|---|---|---|---|---|---|
| 30 Nov 2020 - 30 May 2021 | 24 Jun 2021 | 23 | 95% | 4% | 1% | 0% |
| 02 Jun 2020 - 29 Nov 2020 | 16 Dec 2020 | 27 | 84% | 11% | 5% | 18% |
| 02 Dec 2019 - 01 Jun 2020 | 25 Jun 2020 | 27 | 71% | 25% | 4% | 17% |
| 03 Jun 2019 - 01 Dec 2019 | 10 Jan 2020 | 23 | 79% | 20% | 1% | 8% |
| 03 Dec 2018 - 02 Jun 2019 | 15 Nov 2019 | 26 | 75% | 16% | 9% | 2% |
| 04 Jun 2018 - 02 Dec 2018 | 15 Nov 2019 | 55 | 77% | 13% | 10% | 5% |
| 04 Dec 2017 - 03 Jun 2018 | 15 Nov 2019 | 45 | 62% | 20% | 17% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from invoice date
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
67
Contact supplier to obtain statements and invoice copies requiring evidence for work completed. We follow a purchase order policy.
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
Amsric Foods Limited operates fast food restaurants as a franchisee of KFC in the UK. Trading since 1992, when its first store opened in Woking, Surrey, the company runs KFC high street, drive-thru and shopping centre outlets across the south of England, employing around 1,000 staff across 51 restaurants following expansion in late 2017 and early 2018. Amsric Foods Limited is a wholly owned subsidiary of Amsric Holdings Ltd, a group which, alongside the KFC restaurants, also operates Starbucks stores and a fitness club in Woking. Amsric Foods Limited itself is registered as a take-away food shop and mobile food stand business under SIC code 56103.
Generated from the company's website and Companies House records. Sources: previous.singervielle.com