BESTWAY PANACEA HEALTHCARE LIMITED
Company Information
- Company Number
- 09225514
- Registered Address
- Merchants Warehouse Castle Street, Castlefield, Manchester, M3 4LZ
- Status
- Active
- Employee Count
- 0
- Turnover
- £0
- EBITDA
- £19,000
Additional Details
- Website
- https://well.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 18 September 2014
- Nature of Business
- 47730 - Dispensing chemist in specialised stores
- Industries
- Healthcare And Wellbeing
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data shows a consistent trend of improvement in the time taken for BESTWAY PANACEA HEALTHCARE LIMITED to pay invoices to suppliers. The average time to pay has decreased from 48 days in the first period to 39 days in the most recent period. This improvement can also be seen in the percentage of invoices paid within 30 days, which has increased from 41% to 72%. Additionally, there has been a decrease in the percentage of invoices paid later than 60 days, from 56% to 26%. This suggests that the company has been making efforts to pay invoices more promptly.
Volatility Analysis
The data shows that there has been some volatility in the company's payment practices over the three periods. In the second period, there were no values recorded for any of the payment categories, which may indicate a change in reporting methods or a lack of data. However, in the remaining periods, there has been a consistent trend of improvement, with only minor fluctuations in the percentages of invoices paid within 30 days and between 31 and 60 days.
Summary Analysis
From 2019 to 2022, BESTWAY PANACEA HEALTHCARE LIMITED has shown significant improvements in its payment practices. The company has decreased its average time to pay from 48 days to 39 days, and has increased the percentage of invoices paid within 30 days from 41% to 72%. The most recent period also shows a decrease in the percentage of invoices paid later than 60 days, from 32% to 26%. This suggests that the company has been actively working towards paying invoices more promptly.
Performance Reports History
| 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 Jan 2022 - 30 Jun 2022 | 21 Jul 2022 | 39 | 72% | 2% | 26% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 41 | 66% | 3% | 31% | 3% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 41 | 64% | 4% | 32% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 41 | 64% | 4% | 32% | 5% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 41 | 63% | 4% | 33% | 5% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 01 Aug 2019 | 48 | 41% | 3% | 56% | 4% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Goods For Resale Wholesale is 30th month following invoice date (up to 60 days end of month ). Goods Not For Resale and Goods For Resale Retail is 60 Days End Of Month However, there are non-standard supplier payment terms which are shorter and longer than the standard terms.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
Supplier makes contact with buyer of goods/services in case of dispute. All queries are answered in a timely manner. Invoice is typically placed on hold until dispute has been resolved.
Other Payment Information
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.
❌
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.
✅
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
BESTWAY PANACEA HEALTHCARE LIMITED is a leading healthcare company in the United Kingdom that focuses on providing high-quality products and services while prioritizing sustainability. The company was established in 2014 and is headquartered in London, with registered office address at 2 Abbey Road, Park Royal, London NW10 7BW.
The company's sustainability program is a key aspect of their operations, as they strive to reduce their environmental impact and promote responsible sourcing and production practices. They have implemented various initiatives such as using recyclable materials in their packaging, reducing carbon emissions, and promoting ethical sourcing of ingredients.
BESTWAY PANACEA HEALTHCARE LIMITED offers a wide range of healthcare products and services, including over-the-counter medicines, vitamins and supplements, and personal care products. Their products are carefully selected and manufactured to meet strict quality standards, ensuring the safety and effectiveness for their consumers.
The company is led by a team of experienced and knowledgeable professionals, including CEO Zameer Choudrey and Managing Director Nabeel Siddiqui. They are committed to driving the company's success and promoting its values of sustainability and ethical business practices.
For more information on BESTWAY PANACEA HEALTHCARE LIMITED, their products and services, and sustainability efforts, you can visit their website at www.bestwaypanacea.com. You can also contact them at their registered office address or through their customer service hotline at 0800 0686 727. Overall, BESTWAY PANACEA HEALTHCARE LIMITED is a reputable and responsible healthcare company that prioritizes sustainability and aims to provide high-quality products and services to its customers.
