The average time taken for AUNT BESSIE'S LIMITED to pay invoices has increased from 53 days in Apr, 2018 to 62 days in Dec, 2019. This indicates a worsening trend in payment efficiency.
The percentage of invoices paid within 30 days has fluctuated between 14% and 20% over the past three periods, indicating a moderate level of volatility in this metric. However, there has been a consistent increase in the percentage of invoices paid later than 60 days, reaching a high of 41% in Dec, 2019, indicating a significant increase in volatility for this metric.
Over the past three periods, AUNT BESSIE'S LIMITED has consistently taken longer to pay invoices, with an average time to pay increasing from 53 days in Apr, 2018 to 62 days in Dec, 2019. This is reflected in the trend analysis, which shows a worsening trend in payment efficiency. Additionally, the volatility analysis highlights a significant increase in the percentage of invoices paid later than 60 days, indicating a concerning trend for this metric.
| 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 2020 - 30 Jun 2020 | 30 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 19 Feb 2020 | 62 | 14% | 45% | 41% | 85% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Feb 2020 | 57 | 19% | 42% | 39% | 84% |
| 01 Apr 2018 - 31 Dec 2018 | 19 Feb 2020 | 53 | 20% | 43% | 37% | 87% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We do not have standard payment terms. Payment terms are part of the commercial negotiation and are individually agreed with our suppliers.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
We operate bi monthly payment runs, 5th & 19th of each month. This can add additional days to the payment cycle depending on the day of the week the payment falls due.
Maximum contractual payment period agreed
120
If we dispute an invoice, we aim to promptly inform and work with the supplier to reach a mutually acceptable outcome. Suppliers should contact our Accounts Payable team with any questions relating to the payment of invoices.
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
AUNT BESSIE'S LIMITED is a British food company that specializes in frozen and chilled food products. Founded in 1974, the company has become a household name in the UK, offering a wide range of tasty and convenient food options.
Their sustainability program is at the core of their business operations, aiming to reduce their environmental impact and promote responsible sourcing. They have committed to using 100% sustainable palm oil in their products, reducing their carbon footprint and minimizing food waste through efficient production processes.
The company offers a variety of products such as Yorkshire puddings, roast potatoes, and frozen desserts. They also have a range of vegetarian and gluten-free options to cater to different dietary needs. These products are available in major supermarkets and independent retailers across the UK.
AUNT BESSIE'S LIMITED is led by Managing Director, Andrew Parkinson, and employs over 300 people in its manufacturing and distribution facilities in Hull, Yorkshire. The company has won several awards for its products, including the Grocer New Product Award and the Quality Food Award.
For customer inquiries, AUNT BESSIE'S LIMITED can be contacted via their website, www.auntbessies.co.uk, or through their registered office address at Freightliner Road, Kingston upon Hull, HU3 4UW. With their commitment to sustainability and delicious food offerings, AUNT BESSIE'S LIMITED continues to be a trusted and popular choice for frozen and chilled food in the UK.