Industry ranking
The average time taken for WAREHOUSE FASHIONS LIMITED to pay invoices has remained relatively consistent over the past three periods, with only a slight increase from 37 to 38 days. However, the percentage of invoices paid within 30 days has decreased by 7%, while the percentage of invoices paid between 31 and 60 days has increased by 7%. This suggests a trend towards slower invoice payments.
The volatility in WAREHOUSE FASHIONS LIMITED's invoice payment patterns is relatively low, with only small changes in the average time taken to pay, and the percentages of invoices paid within different time frames. The most significant change is the decrease in invoices paid within 30 days, which could indicate a potential decrease in the company's financial stability.
| 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 |
|---|---|---|---|---|---|---|
| 03 Sept 2019 - 29 Feb 2020 | 31 Mar 2020 | 38 | 51% | 35% | 14% | 17% |
| 03 Mar 2019 - 02 Sept 2019 | 30 Sept 2019 | 42 | 51% | 38% | 11% | 14% |
| 25 Aug 2018 - 24 Feb 2019 | 26 Mar 2019 | 37 | 49% | 37% | 14% | 14% |
| 25 Feb 2018 - 24 Aug 2018 | 19 Sept 2018 | 38 | 58% | 31% | 11% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Warehouse Fashions Ltd operates to a set of standard payment terms, which are the next payment run before the end of credit period: 60 days for goods for re-sale and 30 days for non-goods for re-sale, variations to these terms to exist based on agreements with certain suppliers.
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
Warehouse Fashions policy is to pay its suppliers on time in line with the agreed terms. If a dispute is raised, it is forwarded to the relevant department to be considered. Payment of invoice is held with suppliers knowledge until dispute is resolved. Payment is processed immediately when dispute is resolved.
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
WAREHOUSE FASHIONS LIMITED is a in administration private limited company, incorporated on 17 February 2009, based in the West Midlands region. Registered business activity: Retail sale of clothing in specialised stores.
From Companies House records.