The time taken for TATE ENTERPRISES LTD to pay invoices to suppliers has been steadily decreasing over the past three periods. In the first period (Apr 2019 to Sep 2019), the average time to pay was 32.4 days, which decreased to 30.5 days in the second period (Oct 2019 to Mar 2020) and further decreased to 28.6 days in the most recent period (Apr 2020 to Sep 2020).
The volatility in the time taken to pay invoices for TATE ENTERPRISES LTD has been relatively low over the past three periods. The average time to pay only had a difference of 3 days between the highest and lowest values, indicating a consistent payment pattern.
Between April 2019 and September 2020, TATE ENTERPRISES LTD has shown a consistent trend towards paying invoices to suppliers earlier. The average time to pay has decreased by 3.8 days, with the most recent period (Apr 2020 to Sep 2020) having the lowest average time of 28.6 days. The percentage of invoices paid within 30 days has also increased from 68.6% to 71.4%, while the percentage of invoices paid later than 60 days has decreased from 18.2% to 15.2%. The percentage of invoices not paid within agreed terms has also shown a decrease from 13.2% to 13.4%.
| 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 2019 - 30 Sept 2019 | 18 Mar 2020 |
Tate Enterprises Ltd operates the retail and commercial trading arm of Tate, running the Tate Shop both online and within Tate's galleries. It sells art prints, exhibition books, gifts, fashion items, homeware and tickets, and offers gallery membership schemes. The company's registered SIC codes cover retail of new goods, licensed restaurants and book publishing, reflecting its role in generating commercial income that supports Tate's wider activities. Its own site describes it as selling tickets, art inspired gifts, books and prints, noting that every purchase supports Tate. The company is based at Tate's Millbank address and remains an active entity incorporated in 1996.
Generated from the company's website and Companies House records. Sources: shop.tate.org.uk