Industry ranking
Score of 85.6/100 qualifies for PaymentCheck Certification
| 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 |
|---|---|---|---|---|---|---|
| 29 Dec 2024 - 29 Jun 2025 | 15 Jul 2025 | 18 | 85% | 13% | 2% | 35% |
| 30 Jun 2024 - 28 Dec 2024 | 21 Jan 2025 | 21 | 83% | 12% | 5% | 32% |
| 31 Dec 2023 - 29 Jun 2024 | 24 Jul 2024 | 22 | 79% | 16% | 4% | 38% |
| 01 Jul 2023 - 30 Dec 2023 | 29 Jan 2024 | 23 | 74% | 22% | 4% | 37% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 24 | 72% | 25% | 3% | 36% |
| 02 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 23 | 75% | 22% | 3% | 36% |
| 03 Jul 2021 - 01 Jan 2022 | 24 Jan 2022 | 21 | 80% | 17% | 3% | 23% |
| 03 Jan 2021 - 02 Jul 2021 | 22 Jul 2021 | 25 | 78% | 17% | 5% | 24% |
| 03 Jul 2020 - 02 Jan 2021 | 29 Jan 2021 | 25 | 80% | 15% | 5% | 20% |
| 05 Jan 2020 - 03 Jul 2020 | 31 Jul 2020 | 24 | 78% | 17% | 5% | 28% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
There are formal contractual agreements in place with suppliers on payment terms which can vary widely and, as such, it is difficult to specify what are our “standard terms”. In most contractual negotiations, our opening position is that payment shall be made within 60 days of receipt of invoice. However, this opening position will generally be subject to negotiation and, in reality, payment terms can vary from invoices due on receipt of the invoice to sixty days from the end of the month in which the invoice is received. The business deals with a huge variety of suppliers, and the nature of both the supplier and of the goods/services they supply, will dictate what payment terms may be appropriate. If there is no formal contractual agreement in place our standard payment terms are 45 days from invoice date.
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
90
Invoices are processed on a purchases authorisation system (DB authorise) for the review and approval (or query) by the dedicated requisitioning manager(s). Should there be a query or dispute, an invoice is put on hold in the system and placed in query. The reason for the query or dispute is recorded in the comments section of the same approval system. The authoriser(s) contact the supplier to resolve the query or dispute. The invoice is kept on hold in DB authorise until the dispute is resolved. Once resolved, and the invoice is approved on the system, the invoice is released for payment. Invoices are sometimes approved in error and subsequently the authorisers would request the invoice be put on hold. Details of the invoice being put on hold are recorded in the notes section of the system. The invoice will remain on hold until the dispute has been resolved, the invoice is then released back for approval by the manager and then released for payment.
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
This company was incorporated in 2018 as Erastro 1 Limited, later renamed JPIMedia Publishing Limited, then National World Publishing Limited, and has since been renamed Iconic Media Group Limited. Companies House records classify its nature of business as that of a holding company, not elsewhere classified. It is linked as a subsidiary with National World Plc recorded as a person with significant control, and its associated industry tag covers newspapers, magazines and online publishing. As a holding entity, it does not itself trade directly but forms part of a wider publishing group structure. The company remains active, registered in Leeds, and continues to file annual accounts and confirmation statements with Companies House.
Generated from the company's website and Companies House records. Sources: thegazette.co.uk · find-and-update.company-information.service.gov.uk