Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average payment time for PREMIUM DINING RESTAURANTS AND PUBS LIMITED is 45 days, indicating a consistent trend towards settling invoices in the mid-term rather than immediate payment. A significant 65% of payments occur within the 31-60 day window, clearly establishing this as their predominant operational payment cycle.
While the majority of payments are predictably made between 31-60 days, the 15% late payment rate introduces a moderate level of volatility and unreliability. Furthermore, 11% of payments extending beyond 60 days suggests that a notable portion of invoices will experience extended delays, impacting cash flow predictability.
Suppliers should anticipate an average payment cycle of 45 days and factor in a moderate risk of 15% late payments from PREMIUM DINING. It is recommended to establish clear 45-day payment terms, closely monitor initial transactions, and consider implementing credit limits or prompt payment incentives to mitigate potential cash flow disruptions.
| 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 2024 - 30 Jun 2024 | 25 Jul 2024 | 45 | 24% | 65% | 11% | 15% |
| 01 Jul 2023 - 31 Dec 2023 | 26 Jan 2024 | 44 | 27% | 57% | 16% | 5% |
| 01 Jan 2023 - 30 Jun 2023 | 20 Jul 2023 | 43 | 26% | 64% | 10% | 6% |
| 01 Jul 2022 - 31 Dec 2022 | 18 Jan 2023 | 44 | 27% | 60% | 13% | 6% |
| 01 Jan 2022 - 30 Jun 2022 | 06 Jul 2022 | 40 | 33% | 58% | 9% | 6% |
| 07 Jul 2021 - 31 Dec 2021 | 13 Jan 2022 | 46 | 33% | 59% | 8% | 5% |
| 01 Jan 2021 - 30 Jun 2021 | 21 Jul 2021 | 46 | 30% | 54% | 16% | 10% |
| 01 Nov 2020 - 31 Dec 2020 | 30 Jan 2021 | 45 | 26% | 60% | 14% | 8% |
| 01 May 2020 - 31 Oct 2020 | 24 Nov 2020 | 44 | 26% | 60% | 14% | 6% |
| 01 Nov 2019 - 30 Apr 2020 | 18 May 2020 | 38 | 39% | 50% | 11% | 6% |
| 01 May 2019 - 31 Oct 2019 | 13 Nov 2019 | 40 | 31% | 57% | 12% | 5% |
| 01 Nov 2018 - 30 Apr 2019 | 28 May 2019 | 38 | 40% | 48% | 12% | 7% |
| 01 May 2018 - 31 Oct 2018 | 28 Nov 2018 | 40 | 35% | 53% | 12% | 8% |
| 01 Nov 2017 - 30 Apr 2018 | 29 May 2018 | 39 | 43% | 44% | 12% | 9% |
| 01 May 2017 - 31 Oct 2017 | 14 Nov 2017 | 40 | 34% | 51% | 15% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days following the end of the month of the invoice date. The maximum payment period is 60 days end of month. There have been no changes to standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
In December 2023, informal agreements were made with some suppliers to pay them later than the contractually agreed terms due to payment dates falling on Bank Holidays. If we exclude these suppliers, the proportion of suppliers paid beyond agreed terms was actually 4%.
Maximum contractual payment period agreed
90
The Greene King group has a dedicated accounts payable helpdesk that offers suppliers support through to query resolution. The team can be contacted by e-mail or phone Monday to Friday. Contact by e-mail is acknowledged within a maximum of 2 working days with all supplier queries being assigned a unique case number. The majority of phone calls are answered immediately. Greene King offers a supplier payment portal to allow suppliers to monitor and view all their account information, providing real time data that includes invoice approval and invoice payment status.
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
Premium Dining Restaurants and Pubs Limited is a Scottish-registered company operating licensed restaurants. It was previously known as Loch Fyne Restaurants Limited, changing its name in June 2013. Companies House records the company's nature of business as licensed restaurants. It has been controlled by Greene King Hospitality Limited since April 2016, and its registered office is given as Belhaven Brewery in Dunbar, indicating it forms part of the wider Greene King hospitality group rather than trading independently. It holds several leasehold property titles registered in England and Wales, linked to restaurant premises in areas including Portsmouth, Shropshire, Kent and York.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk