The average time taken for HORIZON NUCLEAR POWER SERVICES LIMITED to pay invoices to suppliers has been increasing over the past three periods, from 30 days in 2018 to 35 days in 2019 and 40 days in the most recent period. This indicates a trend towards slower payment of supplier invoices over time.
The company's payment performance has also become more volatile over the three periods. In the first period, 78% of invoices were paid within 30 days, while in the most recent period, this figure has decreased to only 55%. Furthermore, the percentage of invoices paid between 31 and 60 days has also increased significantly, from 17% to 25%. This suggests that the company's payment processes may have become less consistent and efficient.
Between Apr 2018 and Sep 2019, HORIZON NUCLEAR POWER SERVICES LIMITED's average time to pay invoices has increased by 33.3%, from 30 days to 40 days. The percentage of invoices paid within 30 days has decreased by 29.5%, while the percentage of invoices paid between 31 and 60 days has increased by 47.1%. The most significant change is seen in the percentage of invoices paid later than 60 days, which has increased by 300%, from 5% to 20%. This suggests a decline in the company's payment performance over the three periods.
| 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 Apr 2018 - 30 Sept 2018 | 29 Oct 2018 | 30 | 78% | 17% | 5% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company operates standard payment terms of 30 days from invoice date. Variations to these terms do exist based on agreements with certain suppliers. The Company operates a process of paying twice per 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
30
Suppliers are asked to contact the person who placed the order in the first instance. If the matter cannot be resolved it should then be referred to Accounts Payable via email where the team will respond to the query. Should the matter not be satisfactorily resolved, it will be escalated to the Financial Accounting and Reporting Manager and then the Head of Finance.
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
Horizon Nuclear Power Services Limited is a UK registered company whose stated business activities are the production of electricity and the construction of utility projects for electricity and telecommunications. It has previously traded under the names Intercede 2311 Limited, Bow Bidco Bradwell Limited and HNP (Services) Limited before adopting its current name. Companies House records show it is majority owned by Horizon Nuclear Power Wylfa Limited, indicating it operates as part of a wider nuclear power development group rather than as an independent trading business. The company remains active, having been incorporated in February 2009, and continues to file accounts and confirmation statements as a registered entity within this corporate structure.
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