Score of 87.5/100 qualifies for PaymentCheck Certification
The average time taken for GOVIA THAMESLINK RAILWAY LIMITED to pay invoices to suppliers has decreased gradually over the past 6 years, from 35 days in 2017 to 29 days in 2023. This suggests that the company has been working towards improving their payment processes and paying invoices in a timely manner.
There is a slight volatility in the percentage of invoices paid within 30 days, with a peak of 88% in 2022 and a low of 57% in 2018. However, overall, the company has maintained a high percentage of invoices paid within 30 days, indicating a consistent effort towards prompt payment.
From 2017 to 2023, GOVIA THAMESLINK RAILWAY LIMITED has gradually reduced their average time taken to pay invoices, from 35 days to 29 days. The company has also consistently maintained a high percentage of invoices paid within 30 days, ranging from 57% to 88%. However, the percentage of invoices paid between 31 and 60 days has seen a slight increase, from 32% in 2018 to 14% in 2023. The company has also shown improvement in paying invoices later than 60 days, with a decrease from 7% in 2018 to 1% in 2023. The shortest standard payment period has remained at 7 days throughout all periods.
| 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 |
|---|---|---|---|---|---|---|
| 02 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 29 | 84% | 14% | 2% | 4% |
| 01 Jan 2023 - 01 Jul 2023 | 21 Jul 2023 | 29 | 85% | 14% | 1% | 4% |
| 03 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | 33 | 74% | 22% | 4% | 8% |
| 02 Jan 2022 - 02 Jul 2022 | 28 Jul 2022 | 30 | 88% | 10% | 2% | 5% |
| 04 Jul 2021 - 01 Jan 2022 | 25 Jan 2022 | 29 | 85% | 14% | 1% | 4% |
| 03 Jan 2021 - 03 Jul 2021 | 23 Jul 2021 | 29 | 85% | 13% | 2% | 5% |
| 28 Jun 2020 - 02 Jan 2021 | 26 Jan 2021 | 29 | 86% | 12% | 2% | 6% |
| 29 Dec 2019 - 27 Jun 2020 | 17 Jul 2020 | 30 | 83% | 15% | 2% | 15% |
| 30 Jun 2019 - 28 Dec 2019 | 17 Jan 2020 | 30 | 83% | 14% | 3% | 7% |
| 29 Dec 2018 - 29 Jun 2019 | 25 Jul 2019 | 32 | 71% | 25% | 4% | 13% |
| 01 Jul 2018 - 29 Dec 2018 | 25 Jan 2019 | 36 | 57% | 36% | 7% | 16% |
| 31 Dec 2017 - 30 Jun 2018 | 23 Jul 2018 | 35 | 62% | 32% | 6% | 14% |
| 02 Jul 2017 - 30 Dec 2017 | 26 Jan 2018 | 35 | 58% | 37% | 5% | 11% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Govia Thameslink Railway Limited, subsidiary company of The Go-Ahead Group, follow group policy and agree appropriate terms of payment with suppliers for each transaction or series of transactions, and abide by those terms once suppliers present a valid invoice. The company normally settles trade payables on 30 day terms and these invoices are paid in the week following their due date, however variations to these terms do exist based on agreements with certain suppliers. There have been no changes to the standard payment terms in the reporting period.
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
Govia Thameslink Railway Limited is committed to paying our suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Shared Service Manager who will investigate and mitigate the issue.
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
Govia Thameslink Railway Limited is a UK-registered company with the SIC classification of passenger rail transport, interurban. Companies House records show directors and secretaries linked to The Go-Ahead Group Limited and Keolis (UK) Ltd, indicating the company operates as a joint venture between these two transport groups. It is an active private limited company, incorporated in February 2012, with its registered office in Newcastle upon Tyne. The evidence does not describe specific routes or brands, but the SIC code and directorship links confirm its core activity as operating interurban passenger rail services within the UK rail network, rather than owning rolling stock or infrastructure directly.
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