The average time for ETC.VENUES BIDCO LIMITED to pay invoices has decreased from 39 days in the period of July 2018 to December 2018 to 37 days in the period of July 2022 to December 2022. This shows a slight improvement in the company's efficiency in paying their suppliers.
The volatility in the percentage of invoices paid within 30 days has remained relatively stable, with a decrease of 4% in the period of July 2018 to December 2018 and an increase of 5% in the period of July 2022 to December 2022.
ETC.VENUES BIDCO LIMITED has shown a slight improvement in their average time to pay invoices, with a decrease from 39 days to 37 days in the past three periods. However, there has been an increase in the percentage of invoices paid later than 60 days, indicating potential challenges in paying suppliers on time. The company has also maintained a consistent shortest standard payment period of 45 days throughout all periods.
| 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 | 30 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 18 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 17 Jan 2023 | 37 | 25% | 69% | 6% | 11% |
| 01 Jun 2022 - 30 Jun 2022 | 20 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 09 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 22 Oct 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 22 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 40 | 16% | 80% | 4% | 15% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 39 | 20% | 76% | 4% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment within 45 days of invoice date (provided physical receipt is not delayed)
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
60
The originator of the purchase order is initially responsible for resolving a dispute via phone call / email. Unresolved disputes are escalated up the managerial chain as required.
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
ETC.VENUES BIDCO LIMITED is a leading event and conference venue provider in the UK. They offer a range of services including conference rooms, meeting spaces, and training facilities for businesses and organizations. The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact.
Their sustainability program includes measures such as using energy-efficient lighting, recycling waste, and sourcing sustainable and local products for their catering services. They also encourage their clients to use public transport or cycle to their venues and offer discounts for those who do so.
The company's products and services are designed to meet the needs of their clients, with state-of-the-art technology and flexible spaces. They have multiple locations across London, Birmingham, and Manchester, making it convenient for clients to access their services.
The key people in ETC.VENUES BIDCO LIMITED include CEO Alastair Stewart, who has over 25 years of experience in the hospitality industry, and Director of Sales and Marketing, Nick Hoare, who has been with the company for over 10 years.
The company's website address is www.etcvenues.co.uk, where clients can find information on their venues, services, and make bookings. Their registered office address is 51-53 Hatton Garden, London, EC1N 8HN.
In summary, ETC.VENUES BIDCO LIMITED is a reputable venue provider with a strong commitment to sustainability. They offer high-quality services and facilities, and their experienced team ensures that clients have a seamless experience. Their website provides all the necessary information for clients to plan and book their events.