The data for M&J SEAFOOD LIMITED shows a slight decrease in the average time taken to pay invoices over the past three periods, with 37 days being the average in 2020-2021 compared to 39 days in 2017-2018. Additionally, there has been a general trend of improvement in the percentage of invoices paid within 30 days, increasing from 17% in 2017-2018 to 41% in 2020-2021. However, there has been an increase in the percentage of invoices paid later than 60 days, with 11% in 2020-2021 compared to 8% in 2017-2018.
The data for M&J SEAFOOD LIMITED shows some fluctuations in the average time taken to pay invoices, with the lowest being 37 days in 2020-2021 and the highest being 40 days in 2020-2021. Similarly, there have been fluctuations in the percentage of invoices paid within 30 days, with the highest being 41% in 2020-2021 and the lowest being 17% in 2017-2018. However, there has been a consistent decrease in the percentage of invoices paid later than 60 days, with the highest being 11% in 2020-2021 and the lowest being 8% in 2017-2018.
In the past three periods, M&J SEAFOOD LIMITED has shown a slight decrease in the average time taken to pay invoices, with 37 days being the average in 2020-2021 compared to 39 days in 2017-2018. There has also been an improvement in the percentage of invoices paid within 30 days, increasing from 17% in 2017-2018 to 41% in 2020-2021. However, there has been a slight increase in the percentage of invoices paid later than 60 days, with 11% in 2020-2021 compared to 8% in 2017-2018.
| 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 2023 - 31 Dec 2023 | 19 Jan 2024 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | |||||
| 21 Nov 2020 - 22 Nov 2020 | 29 Jul 2021 | |||||
| 31 Jul 2020 - 20 Nov 2020 | 29 Jan 2021 | 40 | 41% | 56% | 3% | 23% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 37 | 22% | 67% | 11% | 34% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 37 | 25% | 69% | 7% | 32% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 38 | 20% | 74% | 6% | 15% |
| 01 Jul 2018 - 29 Dec 2018 | 31 Jan 2019 | 38 | 18% | 75% | 7% | 28% |
| 31 Dec 2017 - 30 Jun 2018 | 30 Jul 2018 | 39 | 17% | 75% | 8% | 35% |
| 02 Jul 2017 - 01 Jan 2018 | 27 Feb 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard payment terms are weekly, no earlier than 56 days after the date of delivery. However there are non-standard supplier payment terms which can be shorter and longer than the standard terms. In certain circumstances a supplier may seek to impose its own payment terms, and in other circumstances, a bespoke contract may be agreed.
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
56
The Accounts Payable team work closely with our buying team and our suppliers to keep disputes to a minimum. The Accounts Payable team will investigate the query and advise the supplier of the resolution needed. If necessary, we have an escalation procedure via our Accounts Payable Manager, Head of Accounts Payable or our Finance Director.
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
M&J Seafood Limited was a UK company that traded in the wholesale of fish, crustaceans and molluscs. Evidence from the M&J Fresh Seafood brand describes a specialist fishmongering business, founded in 1978, sourcing daily fresh catch from British skippers and global fisheries, filleting and processing it at a BRC accredited facility, and supplying it to foodservice customers on a corporate account basis. The brand became part of Sysco, the global foodservice group, in 2016. Current website material states that M&J Fresh Seafood now trades as a trading name of Sysco GB Limited, a separately registered company, rather than under this dissolved entity. M&J Seafood Limited itself is recorded as dissolved.
Generated from the company's website and Companies House records. Sources: mjseafood.com · mjseafood.com · mjseafood.com