The average time taken for SHARPS BEDROOMS LIMITED to pay invoices has remained relatively consistent over the past three periods, with only a slight increase from 36 days in the first period to 38 days in the most recent period.
Overall, there has been minimal volatility in the time taken for SHARPS BEDROOMS LIMITED to pay invoices. The average time to pay has only fluctuated by 2 days over the three periods.
Over the past three periods, SHARPS BEDROOMS LIMITED has had an average time to pay of 36 to 38 days, with a consistent percentage of invoices paid within 30 days (51% to 54%). There has been a slight increase in the percentage of invoices paid between 31 and 60 days, but the percentage of invoices paid later than 60 days has remained steady at 8%.
| 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 2019 - 30 Sept 2019 | 31 Oct 2019 | 38 | 49% | 43% | 8% | 4% |
| 01 Oct 2018 - 31 Mar 2019 | 24 Apr 2019 | 36 | 54% | 39% | 7% | 3% |
| 01 Apr 2018 - 30 Sept 2018 | 26 Oct 2018 | 37 | 51% | 41% | 8% | 4% |
| 02 Oct 2017 - 01 Apr 2018 | 02 May 2018 | 36 | 53% | 39% | 8% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Sharps Bedrooms Limited splits its vendors into three main categories based on the nature of their supply. Payments are made on a weekly basis and the types and their most frequently used payment terms are: 1) Stock suppliers – Major stock suppliers are paid on specific trading terms typically being 60 days from invoice basis 2) Non- stock suppliers – Most non-stock suppliers are paid on 30 days from invoice basis 3) Specifics – A small number of specific suppliers are paid on individually negotiated terms
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
With regards to disputes, suppliers should contact the individual who placed the order from the Company. If the matter is not able to be resolved, it is then referred to either the Purchasing Manager or the Financial Controller.
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
Sharps Bedrooms Limited is registered under SIC code 31090, manufacture of other furniture, and is based at an industrial estate in Bilston, West Midlands. The company has been active since 2011 and continues to file accounts and confirmation statements as a private limited company. Companies House records show its person with significant control is now Becker Bidco Limited, indicating it operates as part of a wider corporate group rather than as an independent trading entity. No further detail on specific products, customers or trading channels is available from the supplied evidence beyond its classification as a furniture manufacturer.
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