The average time to pay for ZORBA DELICACIES LIMITED has decreased from 35 days in the first period to 24 days in the latest period, indicating a trend towards faster payment. The percentage of invoices paid within 30 days has increased from 42% to 64%, while the percentage of invoices paid later than 60 days has decreased from 4% to 0%. This shows a positive trend towards early payment and a decrease in late payments.
There is some volatility in ZORBA DELICACIES LIMITED's payment behavior, with changes in the percentage of invoices paid within 30 days and between 31 and 60 days. However, there is a consistent trend towards faster payment and a decrease in late payments.
| 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 2018 - 31 Mar 2019 | 23 Sept 2019 | 24 | 64% | 36% | 0% | 83% |
| 01 Apr 2018 - 29 Sept 2018 | 14 Nov 2018 | 35 | 41% | 55% | 4% | 83% |
| 01 Oct 2017 - 31 Mar 2018 | 30 Apr 2018 | 35 | 42% | 54% | 4% | 85% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
our standard terms are 45 days however most of the vendors are actually on 30 day terms (115 vendors (32%), with 65 vendors (18%) on 45 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
60
Disputes should be raised with accounts payable in the first instance. If the matter can not be resolved it will be referred to the purchasing team for further investigation. The dispute will be escalated to the Head of finance where necessary, and company lawyers if it can still not be resolved.
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
Zorba Delicacies Limited is a UK-based company that specializes in producing and distributing Mediterranean food products. The company was founded in 1987 and has since become a leading supplier to major retailers, foodservice, and wholesale sectors.
The company's sustainability program is focused on reducing their environmental impact and promoting ethical and responsible practices throughout their supply chain. This includes sourcing ingredients from sustainable and ethical sources, reducing packaging waste, and implementing energy-saving measures in their production facilities.
Zorba Delicacies offers a wide range of products including hummus, dips, salads, and deli snacks. Their products are made using traditional recipes and high-quality ingredients, ensuring authentic and delicious flavors. They also offer a range of vegan and gluten-free options, catering to different dietary needs.
The key people at Zorba Delicacies include the CEO, Mark Stone, and the Managing Director, David Rees. Both have extensive experience in the food industry and are committed to driving the company's growth and sustainability efforts.
For more information on their products and sustainability program, customers can visit their website at www.zorbafoods.co.uk. The registered office address is Zorba Delicacies Limited, 40A College Road, Harrow, Middlesex, HA1 1ES, United Kingdom.