The average time to pay for Morrison Bowmore Distillers Limited has decreased from 27 days in the first half of 2018 to 15 days in the first half of 2019. This represents an improvement of 44.4%.
There has been a significant decrease in the average time to pay from the first half of 2018 to the first half of 2019, indicating a decrease in payment delays and a more consistent payment process.
In summary, Morrison Bowmore Distillers Limited has shown significant improvements in their payment process over the past three periods. They have decreased their average time to pay by 44.4%, with a consistent trend of improving the percentage of invoices paid within 30 days, and a significant decrease in the percentage of invoices paid later than 60 days. They have also shown a decrease in volatility in all areas, indicating a more consistent and efficient payment process. However, the percentage of invoices not paid within agreed terms is still relatively high at 23%, indicating room for further improvement.
| 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 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 15 | 97% | 3% | 0% | 23% |
| 01 Jul 2018 - 31 Dec 2018 | 08 Jan 2019 | 19 | 96% | 3% | 1% | 27% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 27 | 57% | 40% | 3% | 64% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our system defaults to 30 days payment on set up of the vendor
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Payment terms of zero days to ensure the invoice is paid in the first payment run after posting to the account.
Maximum contractual payment period agreed
60
Invoices that do not clear the system automatically are returned to the account handler for investigation
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
Morrison Bowmore Distillers Limited is a Scottish company registered in Glasgow, incorporated in 1989. It was originally registered as Vanalex Limited before briefly trading as Morrison Distillers Limited, then adopting its current name later in 1989. Companies House records list its nature of business as a dormant company, indicating it currently carries out no trading activity. Historical filings show links to Beam Suntory entities through past directors, consistent with the Morrison Bowmore name's association with Scotch whisky distilling. The company remains an active, but dormant, registered entity, with its registered office at Springburn Bond in Glasgow. No current trading operations, products or services are evidenced in the available records.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk