FARRER & CO LLP
Company Information
- Company Number
- OC323570
- Registered Address
- 66 Lincoln's Inn Fields, London, WC2A 3LH
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Limited liability partnership
- Incorporated On
- 1 November 2006
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
FARRER & CO LLP demonstrates an average payment time of 27 days, indicating a general tendency to settle invoices within a typical 30-day window. However, 38% of payments are late, with a concerning 5% extending beyond 60 days, suggesting an inconsistent trend rather than uniformly prompt settlement. This indicates a segment of significantly slower payments, despite the overall average.
Volatility Analysis
While 63% of payments are settled within 30 days, offering some predictability, the substantial 38% late payment rate introduces significant unreliability for a supplier's cash flow planning. The 5% of payments exceeding 60 days represents a clear and elevated risk factor for extended credit terms and potential financial strain. This volatility means on-time payment cannot be guaranteed for all invoices, necessitating careful credit exposure assessment.
Summary Analysis
FARRER & CO LLP presents a moderate payment risk profile; while the average payment time is favorable, the significant proportion of late payments (38%) cannot be overlooked by suppliers. It is recommended that suppliers consider tighter credit terms or smaller initial credit limits to mitigate exposure to the 5% of payments extending beyond 60 days. Close monitoring of payment patterns for individual invoices is advised to promptly identify any deviations and manage cash flow expectations effectively.
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 May 2025 - 31 Oct 2025 | 21 Nov 2025 | 27 | 63% | 32% | 5% | 38% |
| 01 Nov 2024 - 30 Apr 2025 | 28 May 2025 | 28 | 60% | 35% | 5% | 40% |
| 01 May 2024 - 31 Oct 2024 | 26 Nov 2024 | 28 | 57% | 38% | 4% | 42% |
| 01 Nov 2023 - 30 Apr 2024 | 30 May 2024 | 29 | 56% | 39% | 5% | 44% |
| 01 May 2023 - 31 Oct 2023 | 28 Nov 2023 | 27 | 53% | 43% | 4% | 47% |
| 01 Nov 2022 - 30 Apr 2023 | 24 May 2023 | 29 | 48% | 48% | 4% | 52% |
| 01 May 2022 - 31 Oct 2022 | 25 Nov 2022 | 29 | 47% | 49% | 4% | 53% |
| 01 Nov 2021 - 30 Apr 2022 | 17 May 2022 | 30 | 46% | 49% | 5% | 54% |
| 01 May 2021 - 31 Oct 2021 | 18 Nov 2021 | 30 | 44% | 52% | 4% | 56% |
| 01 Nov 2020 - 30 Apr 2021 | 26 May 2021 | 31 | 39% | 57% | 4% | 61% |
| 01 May 2020 - 31 Oct 2020 | 18 Nov 2020 | 34 | 34% | 59% | 7% | 66% |
| 01 Nov 2019 - 30 Apr 2020 | 21 May 2020 | 35 | 38% | 53% | 9% | 63% |
| 01 May 2019 - 31 Oct 2019 | 27 Nov 2019 | 34 | 38% | 55% | 7% | 62% |
| 01 Nov 2018 - 30 Apr 2019 | 28 May 2019 | 29 | 48% | 46% | 6% | 52% |
| 01 May 2018 - 31 Oct 2018 | 30 Nov 2018 | 33 | 47% | 43% | 10% | 53% |
| 01 Nov 2017 - 30 Apr 2018 | 24 May 2018 | 35 | 50% | 39% | 11% | 50% |
| 01 May 2017 - 31 Oct 2017 | 28 Nov 2017 | 33 | 53% | 37% | 10% | 47% |
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
Our default standard payment terms are 30 days, unless agreement has been reached with specific suppliers for an alternative limit
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The figures published above exclude payments made on behalf of our clients for disbursements and to counsel in respect of advice provided for the client’s benefit. Those payments are generally only made after funds have been received from each client and are subject to separate agreement with counsel.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Complaints or concerns raised by suppliers are reviewed and responded to in the first instance by the relevant head of department. If not resolved to both parties' satisfaction within a reasonable timeframe the issue would be escalated to the relevant Management Board member.
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
FARRER & CO LLP functions as a professional services firm, structured as a Limited Liability Partnership
This type of organisation, coupled with its 'Farrer & Co' naming convention, typically denotes a partnership offering specialised expertise
The firm is active and registered in England and Wales under company number OC323570
It was incorporated on 1 November 2006 and maintains its registered office at 66 Lincoln's Inn Fields, London, WC2A 3LH
In the UK market, Limited Liability Partnerships with a similar structure and traditional naming commonly specialise in providing legal services
These typically encompass areas such as private client work, corporate law, property, employment, and dispute resolution for individuals, families, businesses, and charitable organisations
