Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time taken for MURGITROYD GROUP LIMITED to pay invoices has remained relatively consistent at around 34-37 days from 2017 to 2019. However, there was a significant increase in 2020, reaching 44 days. This trend suggests that the company may be experiencing financial difficulties or changes in their payment processes.
The percentage of invoices paid within 30 days has also remained consistent at around 50-64% from 2017 to 2019. However, there was a significant decrease in 2020, dropping to 50%. This indicates that the company may be struggling to make payments on time.
From 2017 to 2019, MURGITROYD GROUP LIMITED had an average time to pay of 34-37 days. The percentage of invoices paid within 30 days remained consistent at around 50-64%. However, in 2020, there was a significant increase in the average time to pay, reaching 44 days, and a decrease in the percentage of invoices paid within 30 days, dropping to 50%. This suggests that the company may be facing financial difficulties or changes in their payment processes.
| 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 Jun 2023 - 30 Nov 2023 | 22 Dec 2023 | |||||
| 01 Dec 2022 - 31 May 2023 | 03 Jul 2023 | |||||
| 01 Jun 2022 - 30 Nov 2022 | 04 Jan 2023 | |||||
| 01 Dec 2021 - 31 May 2022 | 05 Jul 2022 | |||||
| 01 Jun 2021 - 30 Nov 2021 | 02 Dec 2021 | |||||
| 01 Dec 2020 - 31 May 2021 | 01 Jul 2021 | |||||
| 01 Jun 2020 - 30 Nov 2020 | 30 Dec 2020 | |||||
| 01 Dec 2019 - 31 May 2020 | 30 Jun 2020 | 44 | 50% | 36% | 14% | 7% |
| 01 Jun 2017 - 30 Nov 2019 | 27 Dec 2019 | 37 | 54% | 35% | 11% | 9% |
| 01 Dec 2018 - 31 May 2019 | 26 Jun 2019 | 34 | 64% | 26% | 10% | 9% |
| 01 Jun 2018 - 30 Nov 2018 | 31 Dec 2018 | 34 | 64% | 26% | 10% | 9% |
| 01 Dec 2017 - 31 May 2018 | 30 Jun 2018 | 34 | 60% | 30% | 10% | 11% |
| 01 Jun 2017 - 30 Nov 2017 | 21 Dec 2017 | 35 | 60% | 28% | 12% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Goods and services are paid for after any queries thereon have been resolved. Payment of disbursements incurred on behalf of clients are settled after being recharged.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Payment queries are initially dealt with by Accounts Department Purchase Ledger staff, who can liaise with the person who ordered and/or authorised the purchase of the goods and/or services. If this does not result in satisfactory resolution of a query it is passed to the "Director, Finance" and, thereafter, the Chief Financial Officer and/or Chief Executive.
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
MURGITROYD GROUP LIMITED is a company, based in the Scotland region.
From Companies House records.