The trend for 2 SISTERS FISH LIMITED's average time to pay invoices has been fluctuating over the past three periods. In the first period, from Aug 2017 to Jan 2018, the average time to pay was 49 days. This decreased to 43 days in the second period, from Feb 2018 to Jul 2018. However, in the third period, from Aug 2018 to Jan 2019, the average time to pay increased to 46 days. The trend then shows a significant decrease in the fourth period, from Feb 2019 to Jul 2019, with an average time to pay of only 25 days. There is no data available for the remaining periods.
The volatility of 2 SISTERS FISH LIMITED's average time to pay invoices can be seen in the fluctuation of the percentage of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. In the first period, only 32% of invoices were paid within 30 days, while 37% were paid between 31 and 60 days, and a high 31% were paid later than 60 days. This improved in the second period, with 46% of invoices paid within 30 days, 27% between 31 and 60 days, and 27% later than 60 days. However, in the third period, there was a significant decrease in the percentage of invoices paid within 30 days, down to 45%, while the percentage paid between 31 and 60 days increased to 20%, and later than 60 days increased to 36%. The fourth period showed a significant improvement, with 69% of invoices paid within 30 days, 24% between 31 and 60 days, and only 7% paid later than 60 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 Feb 2021 - 31 Jul 2021 | 31 Aug 2021 | |||||
| 01 Aug 2020 - 31 Jan 2021 | 01 Mar 2021 | |||||
| 01 Feb 2020 - 31 Jul 2020 | 24 Sept 2020 | |||||
| 01 Aug 2019 - 31 Jan 2020 | 27 Feb 2020 | |||||
| 01 Feb 2019 - 31 Jul 2019 | 22 Aug 2019 | 25 | 69% | 24% | 7% | 59% |
| 01 Aug 2018 - 31 Jan 2019 | 25 Feb 2019 | 46 | 45% | 20% | 36% | 49% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 43 | 46% | 27% | 27% | 59% |
| 01 Aug 2017 - 31 Jan 2018 | 27 Feb 2018 | 49 | 32% | 37% | 31% | 77% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We shall pay the price of the goods and the services on our first working day following the end of the third month following receipt of a correctly constituted VAT invoice or, if later, upon our acceptance of the goods or services in question.
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
120
Invoices are matched on receipt and disputed invoices notified 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
2 Sisters Fish Limited is a sustainable seafood company based in the United Kingdom, with a focus on providing high-quality fish products while promoting responsible fishing practices. The company was founded in 2010 and is headquartered in Grimsby, England.
The company's sustainability program is a key aspect of their operations, with a commitment to sourcing fish from sustainable fisheries and minimizing their environmental impact. This includes working closely with suppliers and fishermen to ensure responsible fishing methods are used and supporting initiatives to protect marine habitats.
2 Sisters Fish Limited offers a wide range of seafood products, including fresh and frozen fish, shellfish, and smoked fish. They pride themselves on using only the freshest and highest quality ingredients, with a strong emphasis on locally sourced fish from UK waters.
The company's key people include CEO Ranjit Singh, who has over 40 years of experience in the food industry, and Director Andrew Brodie, who has a background in marine biology and extensive knowledge of sustainable fishing practices.
For more information on 2 Sisters Fish Limited and their products and services, their website address is www.2sistersfish.co.uk. Their registered office address is located at 2 Sisters House, Trinity Lane, Hull, East Yorkshire, HU3 5QA, United Kingdom. With their commitment to sustainability and high-quality seafood, 2 Sisters Fish Limited is a leading player in the UK seafood industry.