The data shows a consistent trend of the average time taken for NFU MUTUAL (SERVICE COMPANY) LIMITED to pay invoices to suppliers increasing over time. This is reflected in the increasing percentages of invoices paid later than 60 days and not paid within agreed terms.
There is some volatility in the data, with slight fluctuations in the percentages of invoices paid within 30 days and between 31 and 60 days. However, the overall trend of increasing payment time is clear.
Looking at the data for the past three periods, we can see that there has been a steady increase in the average time taken for NFU MUTUAL (SERVICE COMPANY) LIMITED to pay invoices to suppliers. In the most recent period of 2021-01-01 to 2021-06-30, the average time to pay was 48.5 days, an increase of 4.5 days compared to the previous period. This is reflected in the increase in invoices paid later than 60 days, which went from 20.9% to 25.4%. The percentage of invoices not paid within agreed terms also increased from 22.2% to 26.8%.
| 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 | 23 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 |
NFU Mutual Service Company Limited is registered under SIC code 82990, other business support service activities, and forms part of the NFU Mutual group. The wider group is described on its own site as offering insurance, pensions and investments, stating it is 'NFU Mutual Insurance, Pensions, and Investments' and that it provides personal service with over 280 UK agencies to insure homes, farms or businesses and plan pensions. As a service company within this group structure, this entity itself is not shown by the evidence to trade directly with customers, but rather supports the group's operations. No further detail on its specific internal function is given in the available evidence.
Generated from the company's website and Companies House records. Sources: nfumutual.co.uk