FREETHS LLP
Company Information
- Company Number
- OC304688
- Registered Address
- 80 Mount Street, Nottingham, Nottinghamshire, NG1 6HH
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Limited liability partnership
- Incorporated On
- 16 May 2003
- Industries
- Coming Soon
- Region
- East Midlands
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
FREETHS LLP demonstrates a strong general trend for prompt payments, with an average payment time of 22 days, indicating most invoices are settled well within standard 30-day terms. A substantial 81% of payments occur within 30 days, although 18% extend into the 31-60 day bracket, showing some variability in payment speed.
Volatility Analysis
Despite the low average payment time, the 27% late payment rate introduces a moderate degree of unpredictability for suppliers, as nearly one-third of payments will not adhere strictly to 30-day terms. This suggests a consistent, albeit minor, risk of payments extending into the 31-60 day range, with a negligible 1% risk of payments exceeding 60 days.
Summary Analysis
Overall, FREETHS LLP is a generally reliable payer, with the majority of payments processed efficiently within typical supplier expectations. Suppliers should weigh the 27% late payment rate as a key decision factor, potentially considering stricter payment term agreements or closer monitoring for larger invoices to mitigate potential cash flow impacts.
Performance Reports History
| 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 Apr 2025 - 30 Sept 2025 | 24 Oct 2025 | 22 | 81% | 18% | 1% | 27% |
| 01 Oct 2024 - 31 Mar 2025 | 28 Apr 2025 | 23 | 82% | 13% | 5% | 27% |
| 01 Apr 2024 - 30 Sept 2024 | 30 Oct 2024 | 21 | 81% | 14% | 5% | 26% |
| 01 Oct 2023 - 31 Mar 2024 | 26 Apr 2024 | 22 | 83% | 12% | 5% | 23% |
| 01 Apr 2023 - 30 Sept 2023 | 25 Oct 2023 | 25 | 82% | 13% | 5% | 43% |
| 01 Oct 2022 - 31 Mar 2023 | 24 Apr 2023 | 25 | 81% | 12% | 7% | 48% |
| 01 Apr 2022 - 30 Sept 2022 | 13 Oct 2022 | 24 | 77% | 18% | 5% | 42% |
| 01 Oct 2021 - 31 Mar 2022 | 25 Apr 2022 | 25 | 82% | 12% | 6% | 38% |
| 01 Apr 2021 - 30 Sept 2021 | 13 Oct 2021 | 35 | 75% | 14% | 11% | 34% |
| 01 Oct 2020 - 31 Mar 2021 | 27 Apr 2021 | 33 | 72% | 16% | 12% | 38% |
| 01 Apr 2020 - 30 Sept 2020 | 23 Oct 2020 | 46 | 65% | 21% | 14% | 29% |
| 01 Oct 2019 - 31 Mar 2020 | 19 May 2020 | 38 | 79% | 13% | 8% | 10% |
| 01 Apr 2019 - 30 Sept 2019 | 30 Oct 2019 | 39 | 68% | 23% | 9% | 14% |
| 01 Oct 2018 - 31 Mar 2019 | 29 Apr 2019 | 39 | 68% | 23% | 9% | 17% |
| 01 Apr 2018 - 30 Sept 2018 | 23 Oct 2018 | 35 | 85% | 8% | 7% | 24% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The business has contracts for the lease of property, equipment, software and for provision of services in connection with the operation of the business. The payment period and terms vary and resemble the normal commercial terms for these form of contracts. The business has contracts with counsel and experts for the provision of services and advice on behalf of clients. In line with industry practice these contracts are settled promptly when the client makes funds available for their settlement. All other qualifying contracts are on 30 day standard payment terms. Freeths standard terms provide that it will pay all invoices within the agreed terms of any formal agreement and in the case of other contracts within 30 days of the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
If the business included professional disbursement contracts in its payment statistics and it calculated the payment period as the date from the date of invoice to the date of payment then the following would be the payment statistics: Average time taken to pay invoices = 31 days. Invoices paid: - within 30 days = 72%. - in 31 to 60 days = 17%. - in 61 days or more = 11%. As the agreed payment terms for professional disbursements are on a pay when paid by the client basis and the firm settles these promptly within 2 days in accordance with Solicitor Accounts Rules, professional disbursements will always be paid within term. No professional disbursements will appear in the "Invoices due but not paid within agreed terms" statistic. This statistic will fall with the inclusion of professional disbursements in payment statistics. The revised statistic with the inclusion of professional disbursements becomes: Invoices due but not paid within agreed terms = 17%.
Maximum contractual payment period agreed
90
Dispute Resolution Process
Any disagreement with payment for contracted services is advised to the supplier by the requisitioner/approver of the service. It is the responsibility of this person to resolve any disputes and approve any resolved payment.
Other Payment Information
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
FREETHS LLP is an active limited liability partnership
Based on its company type and name, it operates as a professional services firm, specifically a law firm, within the United Kingdom
The partnership was incorporated on 16 May 2003 and holds company number OC304688
Its registered office is located at 80 Mount Street, Nottingham, Nottinghamshire, NG1 6HH, placing it within the East Midlands region
As a UK law firm structured as an LLP, FREETHS LLP typically provides a broad spectrum of legal services
These commonly include advice on corporate law, commercial property, employment matters, dispute resolution, and private client services for both businesses and individuals
