The average time taken for JOULES LIMITED to pay invoices has increased steadily over the past three periods, from 29 days in May 2017 to 63 days in November 2021. The percentage of invoices paid within 30 days has also decreased from 59% to 34%, while the percentage of invoices paid later than 60 days has increased from 10% to 36%.
There has been some volatility in JOULES LIMITED's payment patterns, with fluctuations in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. However, the average time taken to pay invoices has consistently increased over the past three periods.
In the past three periods, there has been a significant increase in the average time taken for JOULES LIMITED to pay invoices, from 29 days to 63 days. This is accompanied by a decrease in the percentage of invoices paid within 30 days, from 59% to 34%. The worst period for late payments was in May 2019, where 25% of invoices were paid later than 60 days. However, there has been a slight improvement in the most recent period, with 36% of invoices paid later than 60 days compared to 46% in the previous 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 2021 - 29 May 2022 | 28 Jun 2022 | 63 | 34% | 30% | 36% | 54% |
| 31 May 2021 - 28 Nov 2021 | 24 Dec 2021 | 56 | 30% | 41% | 29% | 45% |
| 30 Nov 2020 - 30 May 2021 | 01 Jul 2021 | 59 | 44% | 11% | 45% | 37% |
| 01 Jun 2020 - 29 Nov 2020 | 22 Dec 2020 | 65 | 33% | 21% | 46% | 39% |
| 25 Nov 2019 - 31 May 2020 | 24 Jun 2020 | 54 | 29% | 47% | 24% | 51% |
| 27 May 2019 - 22 Nov 2019 | 23 Dec 2019 | 50 | 27% | 48% | 25% | 39% |
| 26 Nov 2018 - 26 May 2019 | 01 Jul 2019 | 46 | 33% | 53% | 14% | 45% |
| 28 May 2018 - 25 Nov 2018 | 21 Dec 2018 | 41 | 38% | 51% | 11% | 45% |
| 27 Nov 2017 - 27 May 2018 | 20 Jun 2018 | 30 | 65% | 27% | 8% | 40% |
| 29 May 2017 - 26 Nov 2017 | 20 Dec 2017 | 29 | 59% | 31% | 10% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Joules Limited does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period is net 7 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Joules Limited seeks to pay all suppliers within agreed payment terms and on time subject to receiving the invoice and accurate supporting information in a timely manner.
Maximum contractual payment period agreed
120
Disputes are resolved by negotiation involving the relevant parties - accounts payable and credit control departments; buying and sales teams.
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
JOULES LIMITED is a company, based in the London region.
From Companies House records.