FARREL LIMITED
Company number: 01922655
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
30 July 2025
Approved by:
Peter Rowe
Payment statistics
Average time taken to pay invoices: 50 days
Total value paid:
- within 30 days: £4,815,592 (24%)
- in 31 to 60 days: £7,740,259 (39%)
- in 61 days or more: £7,444,136 (37%)
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 49%
- in 61 days or more: 12%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £9,070,808
- payments due in the reporting period which have not been paid within the agreed period: 34%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are 30 days end of month following.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
Payment statistics in this report can be affected by different factors. The company typically initiates payments in batches, and these payment runs are processed twice a month; as such payments will normally be received by the supplier within a few days of their due date. Additionally, as we are part of a Group some of our suppliers are also our customers, and so there is regular offsetting of account balances prior to actioning agreed payments.
Dispute resolution process
Disputes will initially be dealt with by our Finance Team, and they will work with suppliers to try to find a solution to any issues. If they are unable to resolve the issue then this will be flagged to the relevant department to either rectify the dispute or to provide information to allow the Accounts Department to settle accordingly.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No