Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 93/100 qualifies for PaymentCheck Certification
The average time taken for THE ROYAL PARKS LIMITED to pay invoices has decreased over the past three periods, from 24 days in 2018-2019 to 18 days in 2020-2021. This indicates that the company has improved its efficiency in paying invoices.
The percentage of invoices paid within 30 days has fluctuated between 78% and 91% over the past three periods. The percentage of invoices paid between 31 and 60 days has also fluctuated between 5% and 15%. This indicates that the company's payment patterns have not been consistent.
Over the past three periods, THE ROYAL PARKS LIMITED has shown improvement in paying invoices, with the average time taken decreasing by 6 days. The percentage of invoices paid within 30 days has also increased by 13%, indicating a positive trend towards early payment.
| 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 2020 - 31 Mar 2021 | 15 Apr 2021 | 18 | 91% | 5% | 4% | 9% |
| 01 Apr 2020 - 30 Sept 2020 | 30 Oct 2020 | 18 | 85% | 11% | 4% | 15% |
| 01 Oct 2019 - 31 Mar 2020 | 04 Aug 2020 | 19 | 87% | 9% | 4% | 13% |
| 01 Apr 2019 - 30 Sept 2019 | 27 Nov 2019 | 20 | 86% | 11% | 3% | 14% |
| 01 Oct 2018 - 31 Mar 2019 | 07 May 2019 | 23 | 84% | 10% | 6% | 13% |
| 01 Apr 2018 - 30 Sept 2018 | 04 Apr 2019 | 24 | 78% | 15% | 7% | 19% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Royal Parks does not have a standardised set of terms and conditions used on all contracts. Most payment terms are 30 days from invoice and the maximum contractual payment period is 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
30
Disputes over payment are initially raised by suppliers either with the budget manager or finance, via email, telephone or occasionally in writing. These are then investigated with liaison between the relevant member of the staff and the supplier, typically by telephone or email, until an agreement is reached between both parties.
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
The Royal Parks Limited is the charity that manages London's Royal Parks, described on its own site as "the charity managing London's historic parks, the world's most famous collection of urban green spaces". It looks after eight parks including Hyde Park, Kensington Gardens, Richmond Park, Greenwich Park, Bushy Park, St James's Park, The Green Park and The Regent's Park, covering over 5,000 acres of historic parkland. Its remit includes park management, conservation, biodiversity, events, filming permissions and visitor engagement. It formerly ran a retail shop, in Hyde Park and online, though the meta description confirms this shop has now closed, with the physical shop due to remain open only until the end of March 2026.
Generated from the company's website and Companies House records. Sources: shop.royalparks.org.uk · shop.royalparks.org.uk