Industry ranking
The data for PEAK SCIENTIFIC INSTRUMENTS LIMITED shows a consistent trend of decreasing average time to pay invoices over the past three periods, with the most recent period showing the lowest average time to pay. Additionally, the percentage of invoices paid within 30 days has consistently increased over the past three periods, indicating a trend towards early payment. However, there has been some volatility in the data, with the percentage of invoices paid between 31 and 60 days fluctuating between periods.
The data for PEAK SCIENTIFIC INSTRUMENTS LIMITED shows some volatility in the percentage of invoices paid between 31 and 60 days, which has fluctuated between 13% and 34% over the past three periods. This indicates that the company has not been consistent in paying invoices within this time frame. However, the volatility in other data points, such as average time to pay and percentage of invoices paid within 30 days, has been minimal.
Looking at the data for the past three periods, PEAK SCIENTIFIC INSTRUMENTS LIMITED has shown a trend towards early payment, with the average time to pay decreasing and the percentage of invoices paid within 30 days increasing. The most recent period (2021-04-01 to 2021-09-30) showed the lowest average time to pay and the highest percentage of invoices paid within 30 days. However, there has been some volatility in the percentage of invoices paid between 31 and 60 days, which has fluctuated between 13% and 34% over the past three periods. The company also had a period (2020-04-01 to 2020-09-30) where the percentage of invoices paid later than 60 days was highest at 4%. Overall, there has been a positive trend towards early payment for PEAK SCIENTIFIC INSTRUMENTS LIMITED over the past three 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 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 34 | 62% | 34% | 4% | 17% |
| 01 Apr 2021 - 30 Sept 2021 | 27 Oct 2021 | 30 | 98% | 1% | 1% | 0% |
| 01 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 32 | 91% | 9% | 0% | 4% |
| 01 Apr 2020 - 30 Sept 2020 | 14 Oct 2020 | 36 | 68% | 28% | 4% | 31% |
| 01 Oct 2019 - 31 Mar 2020 | 28 Apr 2020 | 36 | 86% | 13% | 1% | 1% |
| 01 Apr 2019 - 30 Sept 2019 | 23 Oct 2019 | 34 | 66% | 29% | 5% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are usually 30 days
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
If there is a dispute the supplier will resolve with the procurement team based on the contract agreed.
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.
❌
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.
❌
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.
❌
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
Peak Scientific Instruments Limited is a Scottish company based in Renfrew that designs, manufactures and supports gas generators for analytical laboratories, including nitrogen, hydrogen and air generators used in applications such as LC-MS and GC. Its products are manufactured at its headquarters near Glasgow, which also houses its research and design facility. The company operates as part of the wider PEAK International Group, which also includes PEAK Gas Generation and Noblegen Cryogenics and employs over 700 staff across more than 20 countries. Peak Scientific provides ongoing service and support to laboratory customers throughout the lifespan of its generator products, alongside warranty and maintenance plans.
Generated from the company's website and Companies House records. Sources: peakscientific.com · peakscientific.com