Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Based on the data provided, TESSUTI LTD has shown a fluctuating trend in their average time to pay invoices. From 2019 to 2022, there has been an overall increase in the average time taken to pay invoices. However, there was a slight decrease in the average time to pay from 2020-2021.
TESSUTI LTD has shown some volatility in their payment behavior, with the percentage of invoices paid within 30 days and between 31-60 days fluctuating throughout the periods. The percentage of invoices paid later than 60 days has also shown some volatility, with a peak in the last period (2022-07-30).
From the data provided, it can be seen that TESSUTI LTD has had a steady increase in the average time taken to pay invoices, with a peak in 2022-07-30 at 48 days. However, there was a slight decrease in the average time to pay from 2020-2021. The highest percentage of invoices paid within 30 days was in 2020-2021 at 52%, while the lowest was in 2021-2022 at 41%. The highest percentage of invoices paid between 31-60 days was in 2019-2020 at 44%, while the lowest was in 2021-2022 at 34%. The highest percentage of invoices paid later than 60 days was in 2022-2023 at 19%, while the lowest was in 2019-2020 at 14%.
| 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 |
|---|---|---|---|---|---|---|
| 30 Jan 2022 - 30 Jul 2022 | 30 Sept 2022 | 48 | 41% | 40% | 19% | 56% |
| 01 Aug 2021 - 29 Jan 2022 | 16 Mar 2022 | 51 | 49% | 34% | 17% | 47% |
| 31 Jan 2021 - 31 Jul 2021 | 16 Mar 2022 | 45 | 49% | 35% | 16% | 47% |
| 02 Aug 2020 - 30 Jan 2021 | 21 Apr 2021 | 46 | 47% | 38% | 15% | 38% |
| 02 Feb 2020 - 01 Aug 2020 | 12 Nov 2020 | 42 | 52% | 34% | 14% | 31% |
| 04 Aug 2019 - 01 Feb 2020 | 04 Mar 2020 | 53 | 39% | 44% | 17% | 42% |
| 03 Feb 2019 - 03 Aug 2019 | 02 Sept 2019 | 50 | 46% | 39% | 15% | 36% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days
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
60
Invoices are matched on receipt and disputed invoices notified to the supplier
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
Tessuti Ltd is the registered company operating the website trading as Flannels, an online and multichannel retailer of luxury designer fashion. The site sells menswear, womenswear, kidswear, footwear, accessories and beauty products from a range of premium and designer brands including Gucci, Burberry, Prada and Moncler. It also offers personal shopping services, store events and a buy-now-pay-later credit option through a regulated finance partner. The company is registered under the SIC code for retail sale of clothing in specialised stores and remains active, having been incorporated in 2005. Its registered office is in Shirebrook, England, a location associated with other retail group operations.
Generated from the company's website and Companies House records. Sources: tessuti.co.uk · tessuti.co.uk