The average time taken for FORMAPLEX LIMITED to pay invoices has remained consistent at around 67-73 days over the past three periods.
The data for FORMAPLEX LIMITED shows a relatively stable trend with only slight fluctuations in the percentage of invoices paid within 30 days and between 31 and 60 days. However, there is a more notable fluctuation in the percentage of invoices paid later than 60 days, with a difference of 6% between the lowest and highest percentages over the three periods.
Overall, FORMAPLEX LIMITED has maintained an average time to pay of around 67-73 days over the past three periods. There has been a slight improvement in the percentage of invoices paid within 30 days, but also a slight decrease in the percentage of invoices paid between 31 and 60 days. The company has also experienced some volatility in the percentage of invoices paid later than 60 days, with the highest percentage occurring in the first period. The standard payment period of 30 days has remained consistent throughout all three periods.
| 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 2017 - 31 Dec 2017 | 30 Jan 2018 | 73 | 14% | 46% | 40% | 96% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 Days end of month
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
Suppliers are notified as soon as a dispute is identified. Details will be provided of the reason for the dispute and what is required to resolve the issue (i.e. proof of delivery). Upon successful resolution the invoice will be cleared for payment.
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
FORMAPLEX LIMITED is a dissolved private limited company, incorporated on 10 January 2001, based in the London region. Registered business activity: Other manufacturing not elsewhere classified.
From Companies House records.