There is a general trend of improvement in the average time taken to pay invoices for ISLAND RESEARCH LLP. From 2018 to 2020, the average time taken to pay decreased from 18 days to 11 days. However, in the last two periods (2022-2023), there has been an increase in the average time taken to pay, reaching 27 days in 2022-2023.
The volatility of the average time to pay for ISLAND RESEARCH LLP has been relatively low, with only a few periods showing significant changes. The biggest change occurred from 2018-2019, where there was a 12% decrease in the average time taken to pay. The other significant change occurred in 2022-2023, where there was a 59% increase in the average time taken to pay.
In the last three periods (2022-2023), there has been a decrease in the percentage of invoices paid within 30 days, with a corresponding increase in the percentage of invoices paid between 31-60 days. However, these percentages are still relatively high, with 57% and 43% of invoices being paid within the agreed terms in 2022-2023. In contrast, the previous three periods (2019-2021) had a 100% rate of invoices being paid within 30 days. The shortest (or only) standard payment period for ISLAND RESEARCH LLP has remained consistent at 7 days throughout all periods.
| 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 2024 - 31 Jul 2024 | 29 Aug 2024 | 18 | 100% | 0% | 0% | 0% |
| 01 Oct 2023 - 31 Mar 2024 | 30 Apr 2024 | 28 | 57% | 43% | 0% | 0% |
| 01 Apr 2023 - 30 Sept 2023 | 26 Oct 2023 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2023 - 31 Mar 2023 | 04 Jul 2023 | 12 | 100% | 0% | 0% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 27 | 57% | 43% | 0% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 16 | 100% | 0% | 0% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 11 | 100% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 15 | 100% | 0% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 10 | 100% | 0% | 0% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Jul 2020 | 11 | 100% | 0% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 11 Feb 2020 | 28 | 75% | 25% | 0% | 25% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 16 | 90% | 10% | 0% | 10% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 14 | 89% | 11% | 0% | 11% |
| 01 Jan 2018 - 30 Jun 2018 | 19 Jul 2018 | 18 | 83% | 17% | 0% | 6% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Under Island Research LLP’s standard contractual terms we commit to the payment of all undisputed sums properly due to third party suppliers within 30 days of receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Invoices should be forwarded to billing@gresearch.co.uk.
Maximum contractual payment period agreed
45
Disputes relating to supplier invoices should be communicated to billing-queries@gresearch.co.uk
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
ISLAND RESEARCH LLP is an active limited liability partnership, incorporated on 10 February 2009, based in the London region.
From Companies House records.