There is a clear trend of an increasing average time to pay for ETC VENUES ESOP TRUSTEE LIMITED, with a significant jump from 37 days in the first half of 2022 to an alarming 69 days in the second half of 2022.
The company's payment pattern is also becoming more volatile, with an increase in the percentage of invoices paid later than 60 days and a decrease in the percentage of invoices paid within 30 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 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 18 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 17 Jan 2023 | 37 | 25% | 69% | 6% | 11% |
| 01 Jun 2022 - 30 Jun 2022 | 20 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 09 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 22 Oct 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 22 Jan 2020 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment within 45 days of invoice date (provided physical receipt is not delayed)
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
The originator of the purchase order is initially responsible for resolving a dispute via phone call / email. Unresolved disputes are escalated up the managerial chain as required.
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
ETC Venues ESOP Trustee Limited is a registered UK company acting as the employee share ownership plan trustee vehicle within the ETC Venues corporate group. Companies House records show it is controlled by Etc Venues Parent Holdings Ltd, which holds more than 75% of shares and voting rights and the right to appoint or remove directors. The company itself has no trading activity of its own and is classified as a dormant company. It exists solely to hold shares on behalf of the wider group, which operates conference and event venues, rather than to provide services directly to customers.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk