Score of 94.5/100 qualifies for PaymentCheck Certification
| 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 Jul 2025 - 31 Dec 2025 | 23 Jan 2026 | 14 | 96% | 3% | 1% | 15% |
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 20 | 97% | 2% | 1% | 15% |
| 01 Jul 2024 - 31 Dec 2024 | 28 Jan 2025 | 14 | 96% | 3% | 1% | 14% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 20 | 89% | 6% | 5% | 19% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 24 | 85% | 9% | 6% | 26% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 45 | 57% | 24% | 19% | 39% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company's standard contractual payment term for goods and services, when applied, is 30 days, however alternative periods can be agreed through discussion on a vendor by vendor basis. No changes have been made to the company's standard payment terms in the period, albeit agreements with individual vendors can change from time to time based on discussions with the relevant counterparties.
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
All queries are addressed with suppliers by the Accounts Payable team responsible for all Formula 1's UK subsidiaries. The Accounts Payable team seek to resolve queries directly with the suppliers and through liaison with the relevant Formula 1 managers who were responsible for engaging the particular supplier and confirming the receipt, or otherwise, of the relevant goods or services.
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
Formula One Digital Media Limited is a company that specializes in providing digital media services for the Formula One racing industry. Their main focus is on sustainability and developing environmentally friendly solutions for the sport.
As part of their sustainability program, Formula One Digital Media Limited has implemented various initiatives, such as reducing carbon emissions, using renewable energy sources, and promoting recycling and waste reduction. They are also committed to promoting sustainable practices among their partners and suppliers.
The company offers a wide range of products and services to support the Formula One racing industry, including live streaming, social media management, content creation, and data analysis. They also provide digital solutions for fan engagement, such as mobile apps and virtual reality experiences.
The key people at Formula One Digital Media Limited include CEO Frank Arthofer and COO Tomos Grace, both of whom have extensive experience in the media and entertainment industry. They are supported by a team of experts in digital media, technology, and motorsports.
For more information on their services and sustainability efforts, interested parties can visit their website at www.formulaonedigitalmedia.com. The company's registered office address is 6 Princes Gate, London SW7 1QJ, United Kingdom.
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