The average payment time for 2M GROUP LIMITED is 43 days, indicating a consistent trend of payments extending beyond standard 30-day terms. A significant 51% of payments fall within the 31-60 day window, with an additional 16% exceeding 60 days, showing a clear trajectory towards later payments.
With 50% of payments being late and 16% exceeding 60 days, 2M GROUP LIMITED presents moderate unpredictability in payment timing. While over half of payments occur between 31-60 days, the substantial proportion of very late payments introduces a notable risk factor for cash flow reliability.
Suppliers should anticipate an average payment duration of 43 days, with a significant risk of payments extending past 60 days for 16% of invoices. It is recommended to factor in longer payment cycles when setting terms and consider proactive follow-up for invoices approaching 60 days to mitigate cash flow impact.
| 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 Oct 2023 - 30 Apr 2024 | 19 Aug 2024 | 43 | 34% | 51% | 16% | 50% |
| 01 May 2023 - 31 Oct 2023 | 19 Aug 2024 | 44 | 33% | 51% | 16% | 45% |
| 01 Nov 2022 - 30 Apr 2023 | 19 Aug 2024 | 45 | 33% | 49% | 17% | 45% |
| 01 May 2022 - 31 Oct 2022 | 29 Nov 2022 | 46 | 33% | 49% | 18% | 55% |
| 01 Nov 2021 - 30 Apr 2022 | 26 May 2022 | 51 | 34% | 46% | 20% | 45% |
| 01 May 2021 - 31 Oct 2021 | 08 Dec 2021 | 50 | 32% | 48% | 21% | 41% |
| 01 Nov 2020 - 30 Apr 2021 | 27 May 2021 | 56 | 29% | 48% | 23% | 50% |
| 01 Apr 2020 - 31 Oct 2020 | 28 Nov 2020 | 31 | 57% | 37% | 6% | 54% |
| 01 Sept 2019 - 30 Apr 2020 | 02 Jun 2020 | 30 | 54% | 40% | 6% | 68% |
| 01 May 2019 - 31 Oct 2019 | 28 Nov 2019 | 33 | 53% | 40% | 7% | 47% |
| 01 Nov 2018 - 30 Apr 2019 | 20 May 2019 | 31 | 54% | 41% | 5% | 46% |
| 01 May 2018 - 31 Oct 2018 | 29 Nov 2018 | 29 | 61% | 34% | 5% | 50% |
| 01 Nov 2017 - 30 Apr 2018 | 30 May 2018 | 28 | 56% | 39% | 5% | 46% |
| 01 May 2017 - 31 Oct 2017 | 28 Nov 2017 | 31 | 50% | 45% | 5% | 48% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days net monthly
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
90
contact supplier on discovery of any discrepancy and resolve
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
2M GROUP LIMITED operates as an active private limited company.
It is registered under company number 07904022 and was incorporated on 10 January 2012. Its registered office is located at Quadrant House Floor 6, 4 Thomas More Square, London, E1W 1YW, with its general location listed as 'Other'.
As a private limited company in the UK, this type of organisation possesses the legal framework to engage in a broad spectrum of commercial activities. Such entities typically provide a diverse range of goods or services, catering to various sectors across both business-to-business (B2B) and business-to-consumer (B2C) markets.