Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
SMITH'S (GLOUCESTER) LIMITED consistently demonstrates extended payment cycles, with an average payment time of 59 days. A significant trend indicates that over half (54%) of payments consistently exceed 60 days, demonstrating a trajectory towards prolonged settlement periods. This pattern suggests a systemic slowness in payment processing rather than isolated incidents.
Payment reliability for this company is very low, with 59% of invoices consistently being paid late and only 16% settled within 30 days. This creates significant unpredictability for suppliers regarding cash flow, as more than half of payments extend beyond typical 60-day terms. The primary risk factor is the high probability of extended working capital requirements for any supplier engaging with them.
Suppliers should approach engagements with SMITH'S (GLOUCESTER) LIMITED with extreme caution due to the high risk of delayed payments. Key decision factors include the company's consistent average payment time of 59 days and the fact that 54% of payments exceed 60 days. To mitigate risk, consider demanding partial upfront payment, implementing strict staged payment milestones, or adjusting pricing to account for extended working capital costs.
| 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 2021 - 30 Sept 2021 | 18 Oct 2021 | 59 | 16% | 30% | 54% | 59% |
| 01 Oct 2020 - 31 Mar 2021 | 03 Jun 2021 | 65 | 14% | 26% | 60% | 64% |
| 01 Apr 2020 - 30 Sept 2020 | 03 Jun 2021 | 68 | 12% | 23% | 65% | 67% |
| 01 Oct 2019 - 31 Mar 2020 | 03 Jun 2021 | 73 | 11% | 18% | 71% | 78% |
| 01 Apr 2019 - 30 Sept 2019 | 03 Jun 2021 | 71 | 12% | 21% | 68% | 79% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 62 | 19% | 27% | 54% | 60% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 57 | 15% | 35% | 50% | 44% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
labour only subcontractors are paid on 14 day terms Purchase Ledger Accounts on 60 days end of month
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
An email is sent to the supplier accounts team as soon as the dispute/query is recognised. This details the particular dispute and the anticipated value of any credit The invoice is placed on hold until resolution. If the dispute is not agreed by the supplier then it is referred to the buyer for agreement - any failure to agree is referred up through the chain of command to obtain resolution. All disputes are reviewed monthly.
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
Smith's (Gloucester) Limited trades as Smiths, a family-run business founded in 1982 and based in Moreton Valence, Gloucester. It operates across the South West and Wales, providing waste collection, skip hire, wheelie bin collection and recycling of non-hazardous waste, alongside construction, demolition and asbestos removal services. The company also offers transport and plant hire, including tipper and grab lorry hire, heavy haulage and road sweeper hire, plus a training centre covering plant, groundcare and health and safety courses. It serves construction sites, event organisers and domestic customers, and states it diverted 234,000 tonnes of waste from landfill in a recent 12-month period, operating from seven depots with a commercial HGV fleet.
Generated from the company's website and Companies House records. Sources: smiths-gloucester.co.uk · smiths-gloucester.co.uk · smiths-gloucester.co.uk