REFOOD UK LIMITED consistently pays beyond typical 30-day terms, with an average payment time of 37 days. The majority of payments (51%) fall into the 31-60 day bracket, indicating a clear trend towards extended payment cycles. Only 40% of invoices are settled within the standard 30-day period.
With 71% of payments being late, REFOOD UK LIMITED presents a significant reliability risk regarding payment adherence. While a large portion settles between 31-60 days, the 9% extending beyond 60 days introduces an unpredictable element. Suppliers should anticipate delayed payments and potential variability in settlement times.
Given the high late payment rate and average payment time, suppliers should approach REFOOD UK LIMITED with caution regarding payment expectations. It is recommended to negotiate explicit payment terms reflecting their typical 31-60 day cycle or consider strategies like shorter credit terms or partial upfront payments. This would help mitigate the risk of extended outstanding invoices.
| 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 Jan 2025 - 30 Jun 2025 | 15 Jul 2025 | 37 | 38% | 56% | 6% | 66% |
| 01 Jan 2024 - 30 Jun 2024 | 02 Jul 2024 | 37 | 40% | 51% | 9% | 71% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We shall pay the price of goods or services presented on a valid VAT invoice, by the due date stipulated on the invoice or, if later, upon our acceptance of the goods and services in question. In the even no payment terms are given, we shall pay within 30 days EOM of the document date.
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
90
Invoices are matched on receipt using an integrated purchase order system and disputed invoices notified in writing to the supplier. Disputes are managed directly between the supplier and site and resolved items are then reprocessed.
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
REFOOD UK LIMITED is an active private limited company. Based on its name, it operates within the food management sector, specifically focusing on the processing or recycling of food-related materials.
The company was incorporated on 10 April 2008 and holds company number 06561170. Its registered office is located at Ings Road, Bentley, Doncaster, South Yorkshire, DN5 9TL, operating within the Yorkshire region.
Companies operating under the 'Refood' designation in the UK market typically specialise in comprehensive food waste collection, processing, and recycling services. They commonly provide solutions for businesses to manage their organic waste streams, often converting these into valuable resources such as renewable energy or agricultural fertilisers.