Industry ranking
The average time for FESTIVAL REPUBLIC LIMITED to pay invoices has been increasing over the past three periods, with an increase of 9 percentage points from 2023-01-01 to 2024-06-30.
The percentage of invoices paid within 30 days has been consistently high at 84%, 75%, and 70% for the three periods respectively. However, there has been an increase in the percentage of invoices paid later than 60 days, from 5% to 11% to 11% over the three periods. This indicates a slight increase in volatility in invoice payment times for FESTIVAL REPUBLIC LIMITED.
From 2023-01-01 to 2024-06-30, FESTIVAL REPUBLIC LIMITED has seen an increase in the average time to pay invoices by 14%, from 23 days to 37 days. This increase is mostly due to a decrease in the percentage of invoices paid within 30 days, which dropped from 84% to 70%. There has also been a slight increase in the percentage of invoices paid later than 60 days, from 5% to 11%.
| 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 Jul 2025 - 31 Dec 2025 | 30 Jan 2026 | 35 | 73% | 17% | 10% | 40% |
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 23 | 90% | 7% | 3% | 51% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 32 | 74% | 15% | 11% | 36% |
| 01 Jan 2024 - 30 Jun 2024 | 09 Aug 2024 | 25 | 84% | 9% | 7% | 38% |
| 01 Jul 2023 - 31 Dec 2023 | 06 Feb 2024 | 32 | 75% | 16% | 9% | 44% |
| 01 Jan 2023 - 30 Jun 2023 | 30 Jul 2023 | 23 | 84% | 11% | 5% | 49% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
N/A
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Festival Republic Limited seeks to resolve any queries and disputes on a timely basis. The supplier's point of contact within Festival Republic Limited would resolve any invoicing disputes with the supplier directly.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Festival Republic Limited is registered at an address in London and holds company number 02948536. Its SIC code covers support activities to performing arts, and the evidence links it to the organisation of Reading Festival, a large annual music event held on Richfield Avenue, Reading, over the August bank holiday weekend. The company's website handles sign-ups, ticket sales, trader and sponsorship enquiries, press contact and festival information, indicating its role in event management, booking and ticketing for this festival. No further trading activities are described in the available evidence.
Generated from the company's website and Companies House records. Sources: readingfestival.com · readingfestival.com