Score of 98.7/100 qualifies for PaymentCheck Certification
Over the past three periods (2018-2022), SECRET ESCAPES LIMITED has seen an increase in their average time to pay invoices, with a significant jump in 2020-2021. However, they have also shown improvement in paying invoices within 30 days, with a consistent 95-99% rate, and a decrease in the percentage of invoices paid later than 60 days.
The data for SECRET ESCAPES LIMITED shows some volatility in their payment patterns. In the first two periods, there is a slight increase in the average time to pay, but in the third period, there is a sharp decrease. Additionally, there is a lot of fluctuation in the percentage of invoices paid within 30 days, with a decrease in 2020-2021 and a sharp increase in the last period.
| 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 2022 - 30 Jun 2022 | 26 Oct 2022 | 2 | 98% | 1% | 1% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Oct 2022 | 1 | 100% | 0% | 0% | 1% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Oct 2022 | 22 | 99% | 0% | 1% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Oct 2022 | 22 | 80% | 15% | 5% | 43% |
| 01 Jan 2020 - 30 Jun 2020 | 25 Oct 2022 | 8 | 94% | 3% | 3% | 41% |
| 01 Jul 2019 - 31 Dec 2019 | 25 Oct 2022 | 1 | 99% | 1% | 0% | 7% |
| 01 Jan 2019 - 30 Jun 2019 | 18 Jul 2019 | 22 | 95% | 4% | 1% | 9% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 14 | 95% | 4% | 1% | 16% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 12 | 96% | 3% | 1% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 28 days for hotel partners, 30 days for opex 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
30
If we have an overdue invoice this is usually because it has not been received into the payment processing queue. We request copy invoices from the supplier and prioritise these for processing and approval.
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
Secret Escapes Limited operates the Secret Escapes travel deals platform, a members-only service offering discounted rates on hand-picked luxury hotels and holidays in the UK and abroad. Membership is free, and the company negotiates directly with hotels and travel partners to curate offers, often including perks such as room upgrades or extras. Acting as an agent for suppliers, tour operators and hotels featured on the site, it sends members regular email updates on new deals and sales. The company is registered in London and its stated business activity is travel agency services.
Generated from the company's website and Companies House records. Sources: secretescapes.com · secretescapes.com