Industry ranking
The average time taken for AXIS SECURITY SERVICES LIMITED to pay invoices has remained relatively consistent over the past three periods, with a slight decrease from 51 days to 45 days. However, there has been a significant improvement in the percentage of invoices paid within 30 days, increasing from 14% to 21%.
The volatility in the average time taken to pay invoices for AXIS SECURITY SERVICES LIMITED has been minimal, with a range of only 3 days over the past three periods. However, there has been some volatility in the percentage of invoices paid within 30 days, with a 14% increase from the first to the third period.
From the past three periods, AXIS SECURITY SERVICES LIMITED has shown a consistent average time to pay invoices, with a slight decrease from 51 days to 45 days. However, there has been a significant improvement in the percentage of invoices paid within 30 days, increasing from 14% to 21%. The company also has a high percentage of invoices paid between 31-60 days, with a consistent range of 67-69% over the past three periods. The worst period for the company was in the second period, where 20% of invoices were paid later than 60 days, the highest out of all the periods.
| 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 2020 - 31 Mar 2021 | 07 May 2021 | 45 | 21% | 67% | 12% | 80% |
| 01 Apr 2020 - 30 Sept 2020 | 07 Dec 2020 | 42 | 24% | 69% | 7% | 77% |
| 01 Oct 2019 - 31 Mar 2020 | 13 Aug 2020 | 42 | 28% | 62% | 10% | 72% |
| 01 Apr 2019 - 30 Sept 2019 | 07 Jan 2020 | 48 | 20% | 68% | 12% | 80% |
| 01 Oct 2018 - 31 Mar 2019 | 24 Jul 2019 | 51 | 14% | 66% | 20% | 86% |
| 01 Apr 2018 - 30 Sept 2018 | 17 Oct 2018 | 51 | 14% | 67% | 19% | 88% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard practice in Axis Security Services Limited is to pay invoices in line with the suppliers' payment terms outlined in the terms and conditions of the invoice. Any changes to these standard terms would be agreed with the supplier and noted by both parties in writing. There have been no changes to these standard payment terms unless the payment/invoice is in dispute or queried.
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 process for disputed invoices is to contact the supplier via e-mail or phone regarding the query and resolve the issue directly with the supplier requesting additional information where needed.
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
AXIS SECURITY SERVICES LIMITED is a liquidation private limited company, incorporated on 27 May 1994, based in the South East region. Registered business activity: Security systems service activities.
From Companies House records.