MILLS & REEVE LLP
Company Information
- Company Number
- OC326165
- Registered Address
- 24 King William Street, London, United Kingdom, EC4R 9AT
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Limited liability partnership
- Incorporated On
- 20 February 2007
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
MILLS & REEVE LLP exhibits a strong trend towards prompt payments with an average payment time of just 18 days. A significant 83% of invoices are settled within 30 days, demonstrating consistent speed. This indicates a very positive trajectory for cash flow predictability for suppliers.
Volatility Analysis
Despite the fast average, 28% of payments are classified as late, introducing some unpredictability for a portion of invoices. Furthermore, 14% of payments extend to 31-60 days and 3% exceed 60 days, indicating that not all payments are consistently prompt. This distribution suggests moderate volatility, requiring suppliers to prepare for occasional delays.
Summary Analysis
Suppliers can generally expect timely payments from MILLS & REEVE LLP, making them a favorable customer for cash flow. However, the 28% late payment rate presents a moderate risk factor that suppliers should acknowledge in their planning. Mitigating this risk could involve incorporating a small buffer for potential delays on individual invoices and maintaining clear communication regarding payment terms.
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 Dec 2024 - 31 May 2025 | 29 Jun 2025 | 18 | 89% | 7% | 4% | 18% |
| 01 Jun 2024 - 30 Nov 2024 | 31 Dec 2024 | 18 | 83% | 14% | 3% | 28% |
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 standard payment terms are 30 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
While our standard terms are 30 days, we have a number of suppliers with immediate payment terms or 14 day payment terms. Professional disbursements are payable on receipt under SRA regulations.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Disputes are initially raised via the firms central procurement team, and escalated to senior management if considered necessary.
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?
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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
Company Summary
MILLS & REEVE LLP operates as a legal practice, structured as a limited liability partnership. This firm functions as an active professional services organisation.
The firm was incorporated on 20 February 2007, under company number OC326165. Its registered office is located at 24 King William Street, London, United Kingdom, EC4R 9AT, placing its primary operations within London.
As a legal practice, MILLS & REEVE LLP typically provides a broad spectrum of legal services. These commonly include advisory work, dispute resolution, contract drafting, and representation across various legal disciplines for businesses and individuals.
