The data for DIESEL (LONDON) LIMITED shows a consistent decrease in the average time taken to pay invoices from 2018 to 2020. However, there was a significant increase in the average time taken to pay invoices in 2021 and 2022. This trend could potentially indicate financial difficulties for the company during these periods.
The data also shows a high level of volatility in the percentage of invoices paid within 30 days, with a range of 39% to 82% over the years. The percentage of invoices paid later than 60 days also fluctuates significantly, with a range of 4% to 76%. This volatility suggests inconsistencies in the company's payment practices.
Looking at the data for the past three periods (2020-2022), we can see that there was a decrease in the average time taken to pay invoices in 2020. However, there was a sharp increase in 2021 and 2022, with the average time taken to pay invoices reaching 91 days in the first half of 2022. This is a significant increase from the previous period (2020) where the average time taken to pay invoices was 52 days.
| 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 Jan 2023 - 30 Jun 2023 | 20 Jul 2023 | 98 | 8% | 1% | 91% | 9% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 91 | 5% | 19% | 76% | 23% |
| 01 Jul 2021 - 31 Dec 2021 | 10 Mar 2022 | 79 | 12% | 22% | 66% | 27% |
| 01 Jul 2020 - 31 Dec 2020 | 10 Feb 2021 | 75 | 69% | 21% | 10% | 68% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Aug 2020 | 52 | 39% | 37% | 24% | 71% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 54 | 82% | 14% | 4% | 61% |
| 01 Jan 2019 - 30 Jun 2019 | 17 Jul 2019 | 49 | 55% | 17% | 28% | 46% |
| 01 Jul 2018 - 31 Dec 2018 | 21 Jan 2019 | 50 | 48% | 24% | 28% | 54% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 51 | 48% | 22% | 30% | 40% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms is to request a minimum payment period of 30 days from trade suppliers, however if the supplier does not agree to those terms, we can arrange for alternative payment terms. Payment of each invoice is due to be made in accordance with the terms either by BACS transfer or if agreed with the supplier direct debit or cheque. Intercompany invoices have 90 days terms.
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
90
Suppliers will contact the accounts payable department via telephone or email. All matters are dealt with by the accounts payable department on a case by case basis, and where it is agreed that a supplier payment needs to be expedited a mutually acceptable approach to doing so will be agreed. We are fortunate to have good relationships with our suppliers.
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
DIESEL (LONDON) LIMITED is a registered UK company, active since December 1994. Its stated business activities under Companies House SIC codes cover wholesale of clothing and footwear, retail sale of clothing in specialised stores, and retail sale of footwear in specialised stores, alongside online retailing. This indicates the company operates within the clothing and footwear trade, both selling directly to consumers through specialised retail and supplying stock on a wholesale basis. No further detail on trading name, product ranges or operational scale is available from the evidence provided, and the company's own website content did not describe specific activities beyond a country selector page.
Generated from the company's website and Companies House records.