Industry ranking
The average time taken for PATERSON ENTERPRISES LIMITED to pay invoices has remained relatively stable over the past six periods, fluctuating between 40 and 44 days. However, there has been a slight decrease in the percentage of invoices paid within 30 days, with a corresponding increase in the percentage of invoices paid between 31 and 60 days. This suggests that the company may be taking longer to pay invoices, but is still within the agreed payment terms.
The volatility of PATERSON ENTERPRISES LIMITED's payment practices can be seen in the fluctuation of the percentage of invoices paid between 31 and 60 days, which has ranged from 70% to 77% over the past six periods. This indicates that the company's payment practices are not consistent and may vary depending on the period.
Between Aug 2017 and Jan 2021, PATERSON ENTERPRISES LIMITED has maintained an average time to pay of 41-44 days. However, there has been a decrease in the percentage of invoices paid within 30 days, with a corresponding increase in the percentage of invoices paid between 31 and 60 days. This suggests that the company may be taking longer to pay invoices, but is still within the agreed payment terms. The worst period for the company was between Aug 2021 and Jan 2022, where 8% of invoices were paid later than 60 days.
| 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 2023 - 31 Jul 2023 | 22 Aug 2023 | 40 | 22% | 70% | 8% | 26% |
| 01 Aug 2022 - 31 Jan 2023 | 21 Feb 2023 | 41 | 21% | 71% | 8% | 27% |
| 01 Feb 2022 - 31 Jul 2022 | 02 Dec 2022 | 42 | 21% | 70% | 9% | 26% |
| 01 Aug 2021 - 31 Jan 2022 | 16 Feb 2022 | 41 | 17% | 77% | 6% | 26% |
| 01 Feb 2021 - 31 Jul 2021 | 17 Aug 2021 | 42 | 18% | 75% | 7% | 26% |
| 01 Aug 2020 - 31 Jan 2021 | 19 Feb 2021 | 41 | 18% | 75% | 7% | 27% |
| 01 Feb 2020 - 31 Jul 2020 | 20 Aug 2020 | 42 | 18% | 74% | 8% | 30% |
| 01 Aug 2019 - 31 Jan 2020 | 24 Feb 2020 | 42 | 16% | 77% | 7% | 30% |
| 01 Feb 2019 - 31 Jul 2019 | 24 Sept 2019 | 44 | 18% | 75% | 7% | 31% |
| 01 Aug 2018 - 31 Jan 2019 | 25 Feb 2019 | 44 | 15% | 77% | 8% | 33% |
| 01 Feb 2018 - 31 Jul 2018 | 17 Sept 2018 | 41 | 21% | 71% | 7% | 27% |
| 01 Aug 2017 - 31 Jan 2018 | 02 Mar 2018 | 44 | 5% | 87% | 8% | 6% |
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 information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
180
As previous
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
Paterson Enterprises Limited is a Shrewsbury registered company that has, since 2004, held Morris Lubricants as a stand-alone division. Morris Lubricants manufactures oils, greases and lubricants, describing itself as one of the largest privately owned lubricant manufacturers in Europe, with production and blending facilities in Shrewsbury supplying products across automotive, agricultural, industrial, marine and other sectors and exporting to over 100 countries. The wider Morris Lubricants operation traces its origins to 1869 and has invested significantly in expanding manufacturing and distribution capacity in recent years. Paterson Enterprises Limited itself functions as the corporate entity under which this lubricant manufacturing and distribution business operates, rather than trading directly under its own name.
Generated from the company's website and Companies House records. Sources: morrislubricants.co.uk · morrislubricants.co.uk