The average time for Independence Homes Limited to pay invoices has decreased over the last three periods, from 23 days in Nov 2017 - Apr 2018 to 18 days in Nov 2018 - Apr 2019. Additionally, the percentage of invoices paid within 30 days has increased from 80% to 92%, indicating a trend towards earlier payment.
The volatility in the average time to pay has decreased over the last three periods, with a decrease from 23 days to 18 days. The volatility in the percentage of invoices paid within 30 days has also decreased, with an increase from 80% to 92%. This suggests that Independence Homes Limited has been consistently paying invoices earlier and within the agreed terms over the last three periods.
In the last three periods, Independence Homes Limited has shown a trend towards earlier payment of invoices, with the average time to pay decreasing from 23 days to 18 days. The percentage of invoices paid within 30 days has also increased from 80% to 92%. This indicates that Independence Homes Limited has improved their payment process and is paying invoices within the agreed terms more consistently.
| 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 May 2018 - 31 Oct 2018 | 23 Nov 2018 | 21 | 88% | 10% | 2% | 4% |
| 01 Nov 2017 - 30 Apr 2018 | 30 May 2018 | 23 | 80% | 16% | 4% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days unless terms have been specifically agreed prior to engagement.
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
Dispute resolution is dealt with on a case by case basis.
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
INDEPENDENCE HOMES LIMITED is an active private limited company, incorporated on 13 August 1997, based in the South East region. Registered business activity: Other human health activities.
From Companies House records.