The average payment time for GYMSHARK LTD is 59 days, indicating a consistent tendency to pay outside standard 30-day terms. A significant 41% of payments extend beyond 60 days, with an overall 61% classified as late, demonstrating a clear trajectory towards extended payment cycles.
The high percentage of payments over 60 days (41%) and overall late payments (61%) introduces considerable unreliability and unpredictability for suppliers' cash flow. This pattern presents a notable risk factor, as a majority of invoices are not settled within typical terms, making financial forecasting challenging.
Suppliers should anticipate extended payment cycles and a high likelihood of late payments when engaging with GYMSHARK LTD, requiring careful cash flow management. Key decision factors include the ability to absorb longer payment terms, with mitigation strategies potentially involving requesting upfront deposits for significant orders or strict credit limit enforcement.
| 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 2024 - 31 Jul 2024 | 13 Dec 2024 | 59 | 27% | 32% | 41% | 61% |
| 01 Aug 2023 - 31 Jan 2024 | 21 Feb 2024 | 50 | 33% | 38% | 29% | 56% |
| 01 Feb 2023 - 31 Jul 2023 | 28 Feb 2024 | 38 | 35% | 41% | 24% | 64% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Gymshark’s standard payment terms are: for stock, 60 days from date of hand over unless agreed otherwise; for non-stock, 30 days paid on the 5th working day of each month unless agreed otherwise.
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
All disputes are initially dealt with by Accounts Payable. We have a designated Accounts Payable contact for each business segment to ensure queries are dealt with in a timely manner. If bank details are in dispute, invoices are placed on hold in the system until resolution. Any invoices that are resolved would go through for payment on the next available pay run which is done once a month on the 5th working day of the month.
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
GYMSHARK LTD is an active Private limited Company, operating as an incorporated business entity. Its company name strongly indicates a specialisation or focus within the gym and fitness sector.
Registered under company number 08130873, GYMSHARK LTD was incorporated on 5 July 2012. The company's registered office is located at G.S.H.Q. Blythe Valley Park, 3 Central Boulevard, Solihull, United Kingdom, B90 8AB.
As a Private limited Company in the UK, GYMSHARK LTD is structured to undertake a wide array of commercial activities. These commonly include manufacturing, retail, the provision of services, technology development, and various forms of professional consultancy.