HEATONS (N.I.) LIMITED demonstrates a consistent trend of slow payment, with an average payment time of 82 days, significantly exceeding standard 30-day terms. A substantial 43% of payments are made over 60 days, indicating a regular trajectory towards extended payment cycles rather than isolated delays.
Payment reliability is low, evidenced by 44% of payments being late and 43% falling into the "over 60 days" category, creating high unpredictability for suppliers. This lack of timely adherence to payment schedules introduces significant cash flow risk and challenges for reliable financial forecasting by potential partners.
Overall, HEATONS (N.I.) LIMITED presents a high payment risk profile for suppliers due to consistently slow and unreliable payment practices. Suppliers should consider requiring stricter payment terms, such as upfront deposits or shorter payment windows with penalties, to mitigate potential cash flow disruptions and operational challenges.
| 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 |
|---|---|---|---|---|---|---|
| 25 Apr 2022 - 23 Oct 2022 | 20 Dec 2022 | 45 | 46% | 28% | 26% | 32% |
| 25 Oct 2021 - 24 Apr 2022 | 21 Jul 2022 | 82 | 33% | 24% | 43% | 44% |
| 26 Apr 2021 - 24 Oct 2021 | 06 Dec 2021 | 77 | 36% | 38% | 26% | 38% |
| 01 Nov 2020 - 25 Apr 2021 | 22 Sept 2021 | 62 | 32% | 34% | 34% | 74% |
| 01 May 2020 - 31 Oct 2020 | 02 Dec 2020 | 67 | 36% | 28% | 36% | 54% |
| 01 Nov 2019 - 30 Apr 2020 | 30 Nov 2020 | 66 | 27% | 39% | 34% | 57% |
| 01 May 2019 - 31 Oct 2019 | 29 Nov 2019 | 42 | 42% | 36% | 22% | 49% |
| 01 Nov 2018 - 30 Apr 2019 | 30 May 2019 | 57 | 37% | 40% | 23% | 56% |
| 01 May 2018 - 31 Oct 2018 | 29 Nov 2018 | 50 | 40% | 34% | 26% | 46% |
| 01 Nov 2017 - 29 Apr 2018 | 30 May 2018 | 46 | 36% | 47% | 17% | 42% |
| 01 May 2017 - 31 Oct 2017 | 04 Dec 2017 | 44 | 31% | 52% | 17% | 40% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days end of month of receipt of 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
61
The Accounts Payable department is responsible for dispute resolution. Disputes are resolved by negotiation with individual suppliers to ensure that a resolution is reached before the payment due date.
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
HEATONS (N.I.) LIMITED is an active private limited company, operating as an independent legal entity under UK company law. The provided information does not specify its particular commercial activities.
The company was incorporated on 16 February 1999 under company number NI035599. Its registered office is located in Belfast, Northern Ireland, at C/O Eversheds Sutherland 4f Montgomery House, Montgomery Street, BT1 4NX, United Kingdom.
Private limited companies in the UK market typically operate across diverse sectors, providing a broad spectrum of services and products. These can range from professional consultancy and retail to manufacturing and technology development, serving both consumer and business markets.