Nova Laboratories Limited demonstrates a reasonably prompt average payment time of 26 days, with 81% of invoices settled within the standard 30-day window. However, the 29% late payment rate indicates a notable inconsistency, suggesting that while the majority of payments are timely, a significant portion experience delays beyond agreed terms. The 16% of payments falling in the 31–60 day bracket and 3% exceeding 60 days point to a recurring pattern of deferred settlement affecting roughly one in five transactions.
The gap between the 26-day average and the 29% late payment rate signals moderate unpredictability in cash flow timing for suppliers. While the low 3% over-60-day rate limits exposure to severe delays, the 16% in the 31–60 day range represents a meaningful liquidity risk for suppliers operating on tight payment cycles. This level of variability makes payment outcomes partially predictable but requires active invoice monitoring and follow-up to manage effectively.
Nova Laboratories Limited presents a moderate-risk payment profile, acceptable for most suppliers but warranting structured credit management given the 29% late payment rate. Suppliers should consider implementing 30-day net terms with clear late payment clauses and proactive reminder communications to reduce the likelihood of invoices drifting into the 31–60 day category. Extending credit beyond standard terms or handling high-value orders without upfront deposits carries measurable risk and is not recommended without a reviewed credit limit in place.
| 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 Oct 2025 - 31 Mar 2026 | 24 Apr 2026 | 26 | 81% | 16% | 3% | 29% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days is the standard payment term agreed with suppliers.
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
Invoices in dispute are processed through our supplier dispute process by our Purchasing team. They will liaise both internally and externally with all suppliers with the aim to resolve any dispute within 30 days.
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
Nova Laboratories Limited is a private limited company operating within the laboratories sector. The company's name indicates a focus on laboratory-based activities, and it operates as a formally incorporated business entity under UK company law.
Nova Laboratories Limited is registered in England and Wales under company number 02875110. The company was incorporated on 25 November 1993 and is based in the East Midlands region, with its registered office located at Martin House, Gloucester Crescent, Wigston, Leicestershire, LE18 4YL.
Laboratory companies of this type in the UK market typically provide a range of specialist scientific and technical services. These organisations commonly operate across sectors such as pharmaceutical manufacturing, product testing, quality assurance, or research and development, serving both commercial clients and regulated industries.
With over three decades of continuous operation since its incorporation, Nova Laboratories Limited represents an established presence within its sector. The company maintains an active status, reflecting its ongoing operation within the UK business environment.