Industry ranking
Score of 93/100 qualifies for PaymentCheck Certification
The average time taken for BULB ENERGY LTD to pay invoices has fluctuated over the past three periods, with a slight decrease in the most recent period.
The volatility of the percentage of invoices paid within 30 days has been relatively stable, with a slight increase in the most recent period.
From 2019-04-01 to 2021-09-30, BULB ENERGY LTD has shown a decrease in the average time taken to pay invoices, with the most significant decrease occurring in 2020-04-01 to 2020-09-30. In terms of on-time payments, the percentage of invoices paid within 30 days has remained consistently high at 93%, with a slight increase in 2021-04-01 to 2021-09-30. However, the percentage of invoices paid later than 60 days has also slightly increased in the most recent period, reaching a high of 2%. BULB ENERGY LTD has consistently maintained a standard payment period of 30 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 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 18 | 93% | 5% | 2% | 12% |
| 01 Oct 2020 - 31 Mar 2021 | 28 Apr 2021 | 18 | 93% | 5% | 2% | 14% |
| 01 Apr 2020 - 30 Sept 2020 | 29 Oct 2020 | 16 | 93% | 6% | 1% | 18% |
| 01 Oct 2019 - 31 Mar 2020 | 29 Apr 2020 | 18 | 93% | 6% | 1% | 15% |
| 01 Apr 2019 - 30 Sept 2019 | 09 Mar 2020 | 19 | 94% | 5% | 1% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days from invoice date, regardless of when the invoice was received.
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
30
Our accounts payable team handles all disputes directly and in cooperation with our colleagues in the buyer’s position when necessary. We handle disputes promptly daily via email, post or phone. We have a clear escalation pathway to the CFO to ensure dispute resolution.
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
BULB ENERGY LTD is a in administration private limited company, incorporated on 2 April 2013, based in the West Midlands region. Registered business activity: Trade of electricity.
From Companies House records.