Industry ranking
The average time taken for EUROCAPS LIMITED to pay invoices has fluctuated over the past three periods, with a peak of 50 days in the most recent period (2021-10-01 to 2022-03-31) and a low of 40 days in the earliest period (2018-10-01 to 2019-03-31). However, there appears to be an overall upward trend in the average time taken to pay invoices.
The volatility of EUROCAPS LIMITED's invoice payment time has been relatively consistent, with a range of 5 days between the shortest and longest payment period. However, there has been a slight increase in volatility in the most recent period, with a range of 10 days.
Between the periods of 2018-10-01 to 2019-03-31 and 2021-04-01 to 2021-09-30, EUROCAPS LIMITED saw an increase in the percentage of invoices paid within 30 days, from 30% to 21%. However, there was also an increase in the percentage of invoices paid later than 60 days, from 13% to 19%.
| 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 Apr 2023 - 30 Sept 2023 | 13 Feb 2024 | 45 | 26% | 62% | 11% | 92% |
| 01 Oct 2022 - 31 Mar 2023 | 07 Aug 2023 | 45 | 24% | 66% | 11% | 95% |
| 01 Apr 2022 - 30 Sept 2022 | 20 Mar 2023 | 40 | 28% | 60% | 12% | 93% |
| 01 Oct 2021 - 31 Mar 2022 | 20 Mar 2023 | 50 | 26% | 62% | 12% | 84% |
| 01 Apr 2021 - 30 Sept 2021 | 11 Jan 2022 | 48 | 21% | 60% | 19% | 97% |
| 01 Oct 2020 - 31 Mar 2021 | 02 Jul 2021 | 45 | 21% | 62% | 17% | 97% |
| 01 Apr 2020 - 30 Sept 2020 | 02 Jul 2021 | 45 | 20% | 63% | 17% | 97% |
| 01 Oct 2019 - 31 Mar 2020 | 27 Apr 2020 | 40 | 27% | 59% | 14% | 91% |
| 01 Apr 2019 - 30 Sept 2019 | 28 Oct 2019 | 41 | 26% | 60% | 14% | 93% |
| 01 Oct 2018 - 31 Mar 2019 | 29 Apr 2019 | 40 | 30% | 57% | 13% | 93% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
No standard payment terms. Negotiated on a supplier by supplier basis although 70% of our suppliers are on either net 30 days or 30th of the month following invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Generally, invoices are paid in the first payment run following the due date. Typically, payment runs are made bi-weekly. Consequently, invoices will normally be overdue but only for a short period of time.
Maximum contractual payment period agreed
90
Accounts payable work closely with the purchaser and the supplier to resolve queries in a timely manner. Accounts payable are available by email or phone.
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
Eurocaps Limited is a Tredegar-based manufacturer, now trading as Ourvita, previously known as EuroCaps. Operating from a GMP-accredited, MHRA-licensed facility in South Wales with over 280 employees, it develops and manufactures softgels and nutritional gummies for the dietary supplement and over-the-counter markets. Its products include bovine, fish and vegetarian softgels, Vegesoft vegetarian softgels, Softburst chewable capsules and delayed-release formats, alongside a growing gummy range, producing over 2.5 billion softgels annually across more than 3,000 formulations. The company works with brands from concept development through to formulation, regulatory compliance and manufacture, supporting the nutraceutical, health and wellness industry as a contract manufacturing partner rather than a consumer-facing brand itself.
Generated from the company's website and Companies House records. Sources: eurocaps.co.uk