The average time taken for TOCRIS COOKSON LIMITED to pay invoices to suppliers has decreased over the three periods, from 38 days in the first period to 36 days in the third period. This indicates an improvement in the efficiency of the company's payment process.
The volatility in the percentage of invoices paid within 30 days has decreased over the three periods, from 36% in the first period to 51% in the third period. This suggests that the company has become more consistent in paying invoices on time.
In the first period (Jul 2017 - Dec 2017), TOCRIS COOKSON LIMITED took an average of 38 days to pay invoices, with 36% of invoices being paid within 30 days and 58% being paid between 31 and 60 days. However, in this period, 6% of invoices were paid later than 60 days.
| 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 2018 - 30 Jun 2018 | 31 Jul 2018 | 38 | 46% | 52% | 2% | 0% |
| 01 Jul 2017 - 31 Dec 2017 | 30 Jan 2018 | 38 | 36% | 58% | 6% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days net, so generally paid one month after being received.
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
The end user would contact the supplier if there are any issues and request a credit note.
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
Tocris Cookson Limited, based in Bristol, trades as Tocris Bioscience and manufactures bioactive small molecules and peptides for life science research, including receptor agonists and antagonists, enzyme inhibitors, PROTACs and molecular glues, fluorescent dyes and probes, and GMP grade compounds. Its products support applications such as cell culture, pharmacology, cell biology, imaging, targeted protein degradation, stem cells and organoids, produced at an ISO 9001:2015 certified UK facility. Founded in 1982 as a specialist neuroscience reagent supplier, the company was acquired by R&D Systems, part of the Bio-Techne group, in 2011, and its products are now sold through the R&D Systems website while retaining the Tocris brand and quality standards.
Generated from the company's website and Companies House records. Sources: tocris.com · tocris.com