BESTWAY RETAIL LIMITED
Company Information
- Company Number
- 04103203
- Registered Address
- 2 Abbey Road, London, NW10 7BW
- Status
- Active
- Employee Count
- 1114.0
- Turnover
- 244517000.0
- EBITDA
- 6785000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 7 November 2000
- Nature of Business
- 46390 - Non-specialised wholesale of food, beverages and tobacco$47110 - Retail sale in non-specialised stores with food, beverages or tobacco predominating$47250 - Retail sale of beverages in specialised stores
- Industries
- Lifestyle And Entertainment,Supply Chain,Manufacturing And Commerce Models
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| 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 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 21 | 92% | 7% | 1% | 5% |
Company Summary
BESTWAY RETAIL LIMITED is a leading UK-based retail company that operates a chain of convenience stores, supermarkets and wholesale stores
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact
The company's sustainability program includes energy-efficient practices such as using LED lighting and implementing waste reduction measures
They also prioritize sourcing products from sustainable and ethical suppliers, as well as promoting recycling and reducing plastic usage in their stores
BESTWAY RETAIL LIMITED offers a wide range of products and services to meet the needs of their customers
They offer groceries, household items, fresh produce, and a variety of other goods at competitive prices in their stores
They also provide delivery and online shopping options for added convenience
The key people leading BESTWAY RETAIL LIMITED include the CEO, Naser Khan, who has over 20 years of experience in the retail industry
The company also has a dedicated team of sustainability experts who oversee the implementation of their sustainability program
Customers can contact BESTWAY RETAIL LIMITED through their website, which also provides information on their products, services, and store locations
The registered office address for the company is Bestway House, 2 Abbey Road, Park Royal, London, NW10 7BW
In conclusion, BESTWAY RETAIL LIMITED is a reputable retail company in the UK that is committed to sustainability and offers a wide range of products and services to its customers
With strong leadership and a dedicated sustainability program, the company continues to make a positive impact on the environment and the community
Company Review
Trend Analysis
The average time taken for BESTWAY RETAIL LIMITED to pay their invoices has decreased from 21 days in Jul 2023 to 18 days in Dec 2023. This is a positive trend as it indicates that the company is paying their invoices more promptly.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively stable, ranging from 92% in Jul 2023 to 93% in Oct 2023. However, there has been a slight increase in the percentage of invoices paid between 31 and 60 days, from 7% in Jul 2023 to 8% in Dec 2023. This could suggest that the company is facing some challenges in paying their invoices on time.
Summary Analysis
From Jul 2023 to Dec 2023, BESTWAY RETAIL LIMITED has shown improvements in their payment process. The average time taken to pay invoices has decreased from 21 days to 18 days. The percentage of invoices paid within 30 days has remained stable at an average of 92%, while the percentage of invoices paid between 31 and 60 days has slightly increased from 7% to 8%. The percentage of invoices paid later than 60 days has remained low at an average of 1%.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Bestway agree standard payment terms that vary between 7 and 90 days depending on size of supplier and products they sell. Most suppliers are currently paid on weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
Invoices in dispute go on hold, and are discussed between the Accounts Department, Trading and the Supplier. Once resolved, the invoice will go forward for payment in accordance with its normal payment terms. If resolved after the payment due date, the invoice is paid on the supplier’s next payment run.
Other Payment Information
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.
❌
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.
✅
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
