Industry ranking
Score of 93.7/100 qualifies for PaymentCheck Certification
The time taken for LEX LEISURE CIC to pay invoices has consistently decreased over the past three periods, with an average time to pay of 23 days in the first period, 15 days in the second period, and 11 days in the third period.
The volatility of LEX LEISURE CIC's invoice payment time has also decreased over the past three periods, with a decrease in the percentage of invoices paid later than 60 days and an increase in the percentage of invoices paid within 30 days.
In the most recent period, LEX LEISURE CIC has significantly improved their invoice payment time, with an average time to pay of only 11 days. This is a 52.2% decrease from the first period and a 26.7% decrease from the second period. Additionally, the percentage of invoices paid within 30 days has increased from 90% in the first period to 95% in the third period, while the percentage of invoices paid later than 60 days has decreased from 6% in the second period to only 2% in the third period.
| 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 2024 - 31 Dec 2024 | 31 Jan 2025 | 14 | 93% | 5% | 2% | 13% |
| 01 Jan 2024 - 30 Jun 2024 | 12 Sept 2024 | 14 | 92% | 5% | 3% | 14% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 15 | 92% | 6% | 2% | 14% |
| 01 Jan 2023 - 30 Jun 2023 | 30 Jan 2024 | 23 | 90% | 4% | 6% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days following the end of the month in which the invoice is received or dated
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Once reported, any dispute is dealt with by the authorised buyer
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
Lex Leisure CIC is a Community Interest Company that operates leisure venues, including community halls, wet and dry leisure centres, school and dual use sites, and golf facilities. It manages contracts ranging from straightforward operating agreements to complex PFI, PPP and DBOM structures. Activities offered include swimming, squash, badminton, GP referral programmes and specialist health schemes such as obesity management and diabetes support. Any surplus generated is directed towards its core aim of enabling people with physical or mental disabilities, or those facing health inequalities, to remain physically active. It also provides golf facility management to encourage community participation outside traditional indoor settings.
Generated from the company's website and Companies House records. Sources: lexleisure.org.uk