The payment trend for MCCONECHY'S TYRE SERVICE LIMITED consistently indicates extended payment cycles, with an average payment time of 77 days. Their payment trajectory shows a strong propensity for longer terms, as only 1% of invoices are settled within 30 days.
Payment behavior is predictably slow, with nearly all payments (99%) falling outside standard 30-day terms and over half (52%) exceeding 60 days. While only 2% are officially marked late, this extended payment pattern presents a significant and consistent cash flow risk for potential suppliers.
Suppliers should approach MCCONECHY'S TYRE SERVICE LIMITED with caution, factoring their average 77-day payment period into any credit terms offered. To mitigate the significant cash flow impact, consider implementing stricter payment terms such as shorter credit periods or requiring partial upfront payments.
| 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 Nov 2018 - 30 Apr 2019 | 10 May 2019 | 77 | 1% | 47% | 52% | 2% |
| 01 May 2018 - 31 Oct 2018 | 08 Feb 2019 | 72 | 1% | 45% | 54% | 3% |
| 01 Oct 2017 - 30 Apr 2018 | 24 Jul 2018 | 72 | 3% | 23% | 74% | 3% |
| 01 May 2017 - 31 Oct 2017 | 05 Mar 2018 | 72 | 6% | 18% | 76% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days after the end of month of invoice. Terms of 60 days from end of month of invoice have been agreed with larger suppliers and terms of 90 days from end of month of invoice have been agreed with major strategic suppliers. No changes were made to payment terms during the period ended April 2019
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
90
Suppliers are notified in writing of any disputes by the Purchase Ledger Department who will then liaise with the supplier to ensure that the matter is resolved.
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
MCCONECHY'S TYRE SERVICE LIMITED is an active private limited company providing tyre services.
The company was incorporated on 15 April 1977 and operates under company number SC062229. Its registered office is located in Glasgow, Scotland, at C/O Harper Macleod Llp The Ca'D'Oro, 45 Gordon Street, G1 3PE.
In the UK market, tyre service companies typically specialise in the supply and fitting of new tyres. They also provide essential services such as tyre repair, wheel balancing, and vehicle wheel alignment.