Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 83.2/100 qualifies for PaymentCheck Certification
The average time to pay for PREZZO TRADING LIMITED has decreased from 26 days in 2020 to 24 days in 2021, and further decreased to 22 days in 2022. This shows a positive trend towards early payment, with the company taking less time to pay its invoices.
The average time to pay for PREZZO TRADING LIMITED has fluctuated between 22-26 days over the past three periods, indicating a low level of volatility.
In the past three periods, PREZZO TRADING LIMITED has consistently paid its invoices within 60 days, with no invoices being paid later than 60 days. The company has also maintained a short standard payment period of 14 days.
| 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 |
|---|---|---|---|---|---|---|
| 03 Jan 2022 - 02 Jul 2022 | 10 Aug 2022 | 22 | 65% | 35% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms are 30 days from the end of the month of the date of the invoice
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
60
All invoices queries are dealt with initially by the Accounts Payable team. All approved invoices are paid to terms. Where an invoice is not approved due to a query then the Accounts Payable team will ask the supplier to liaise directly with a member of the procurement team or the senior leader who holds the relationship with the supplier.
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
Prezzo Trading Limited is registered in London and its SIC code covers licensed restaurants. Evidence from its own website, which operates under the Prezzo Italian brand, shows the copyright notice now attributed to Brava Trading Limited, indicating the trading entity behind the Prezzo brand has been renamed. The business runs casual Italian dining restaurants across the UK, offering pasta, pizza and other Italian dishes for dine-in, takeaway and delivery. It also operates a loyalty scheme called Club Prezzo, caters for group bookings, and has opened new sites such as one in Solihull. The company engages in community charity work and provides customer service channels for bookings, complaints and enquiries.
Generated from the company's website and Companies House records. Sources: prezzorestaurants.co.uk · prezzorestaurants.co.uk · prezzorestaurants.co.uk