Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time taken for FAROL LIMITED to pay invoices has decreased over the past three periods, from 46 days in the first period to 44 days in the second period and 43 days in the third period. This shows an improving trend towards faster payments.
There is very little volatility in the data for FAROL LIMITED, with only small changes in the percentages over the three periods. The average time to pay has decreased by 2 days, the percentage of invoices paid within 30 days has increased by 3%, and the percentage of invoices paid between 31 and 60 days has increased by 2%. These changes are relatively minor and suggest that FAROL LIMITED has been consistent in their payment practices over the three periods.
In summary, FAROL LIMITED has shown an improving trend in their payment practices over the past three periods, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, there is still room for improvement as the percentage of invoices paid between 31 and 60 days has also increased slightly. The third period (2022-08-01 to 2023-01-31) has shown the best improvement in faster payments compared to the previous period.
| 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 Feb 2025 - 31 Jul 2025 | 13 Nov 2025 | 45 | 26% | 53% | 21% | 5% |
| 01 Aug 2024 - 31 Jan 2025 | 25 Feb 2025 | 46 | 26% | 52% | 22% | 5% |
| 01 Feb 2024 - 31 Jul 2024 | 27 Aug 2024 | 45 | 24% | 55% | 21% | 6% |
| 01 Aug 2023 - 31 Jan 2024 | 19 Feb 2024 | 44 | 25% | 54% | 21% | 5% |
| 01 Feb 2023 - 31 Jul 2023 | 10 Aug 2023 | 44 | 26% | 53% | 21% | 4% |
| 01 Aug 2022 - 31 Jan 2023 | 13 Feb 2023 | 43 | 25% | 55% | 20% | 6% |
| 01 Feb 2022 - 31 Jul 2022 | 05 Sept 2022 | 44 | 24% | 55% | 21% | 6% |
| 01 Aug 2021 - 31 Jan 2022 | 11 Feb 2022 | 46 | 22% | 53% | 25% | 6% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is the company policy to agree appropriate terms of payment with suppliers and to abide by those terms based on the timely submission and approval of satisfactory invoices.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The data we have provided includes invoices that have only been paid late due to us receiving these invoices late from our suppliers and in addition to this also includes invoices that are in dispute. As a business we will always try and pay to our agreed supplier payment terms, but unfortunately we only do a payment run once a week, which invariably will result some our payments to appear late, even if only by one or two days.
Maximum contractual payment period agreed
180
Individuals approving invoices will notify both our accounts department and the supplier themselves if an invoice is in dispute. We aim to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. Depending on the nature of the dispute, will determine the timescale and next steps for each individual queried invoice.
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
Farol Limited is a farm machinery dealer based at Rycote Lane Farm, Milton Common, near Thame, Oxfordshire. Its official business classification is the wholesale of agricultural machinery, equipment and supplies. The company is listed as a dealer on the FarmAds farm trader marketplace, where its Milton Common location is shown alongside 316 equipment listings, indicating it sells a substantial volume of used and new farm machinery through that platform. This points to Farol operating as a supplier and reseller of agricultural equipment to farmers and other agricultural professionals, rather than as a manufacturer of machinery itself. The company remains active and has been incorporated since 2001.
Generated from the company's website and Companies House records. Sources: farmads.co.uk