Score of 93.53/100 qualifies for PaymentCheck Certification
CNG FUELS LTD exhibits a strong trend of prompt payments, with an average payment time of 19 days and 86% of invoices settled within 30 days. This consistent performance indicates a reliable and predictable payment speed for the majority of transactions.
While most payments are swift, a 30% late payment rate introduces some unpredictability regarding adherence to specific invoice due dates. Additionally, 14% of payments extend beyond 30 days, including 2% over 60 days, indicating a low but present risk of minor payment delays.
Overall, CNG FUELS LTD poses a low payment risk for suppliers, characterized by generally fast payments and high reliability for the majority of invoices. Suppliers should consider the 30% late payment rate and the small percentage of extended payments when establishing credit terms or managing cash flow expectations.
| 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 Oct 2025 - 31 Mar 2026 | 01 May 2026 | 19 | 87% | 12% | 1% | 12% |
| 01 Apr 2025 - 30 Sept 2025 | 30 Oct 2025 | 17 | 96% | 4% | 0% | 3% |
| 01 Oct 2024 - 31 Mar 2025 | 28 Apr 2025 | 19 | 86% | 12% | 2% | 30% |
| 01 Apr 2024 - 30 Sept 2024 | 30 Oct 2024 | 16 | 88% | 11% | 1% | 29% |
| 01 Oct 2023 - 31 Mar 2024 | 30 Apr 2024 | 18 | 83% | 12% | 5% | 22% |
| 01 Apr 2023 - 30 Sept 2023 | 30 Apr 2024 | 26 | 62% | 33% | 3% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We do not operate under standard terms and pay suppliers per their individual payment terms, typically between 7 and 30 days.
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
Any disputes with suppliers will initially be handled by the relevant department within the business who has the day to day relationship with the supplier. If escalated, then the finance team would try and resolve any issues. Failing that the CEO or CFO would contact the supplier. No such issues occurred in this period.
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
CNG FUELS LTD is an active Private limited Company, incorporated to operate commercially within the sector of Compressed Natural Gas (CNG) fuels. Its core business focus is derived from its name, indicating specialisation in CNG as an energy source.
The company was incorporated on 22 October 2014 and holds company number 09274291. It is registered in the South East of the United Kingdom, with its official registered office located at C/O Flb Accountants Llp 1010 Eskdale Road, Winnersh Triangle, Wokingham, RG41 5TS.
Based on its designation as a CNG fuels company, its typical services and products centre around the provision, supply, and distribution of Compressed Natural Gas. This encompasses making CNG available as an energy solution for various applications within the UK market.
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