LUCY ELECTRIC UK LIMITED
Company number: 01179461
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
30 January 2026
Approved by:
Gary Ashton
Payment statistics
Average time taken to pay invoices: 47 days
Total value paid:
- within 30 days: £4,950,327 (17%)
- in 31 to 60 days: £10,019,372 (34%)
- in 61 days or more: £14,422,648 (49%)
Invoices paid:
- within 30 days: 34%
- in 31 to 60 days: 42%
- in 61 days or more: 24%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £19,004,660
- payments due in the reporting period which have not been paid within the agreed period: 53%
- not made in the reporting period due to a dispute: 2%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Terms range between 0 and 60 days from the end of the current month, dependent on the nature of the business.
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
Of the 53% of payments not made within agreed payment terms, 32% of these were paid with 7 days of the payment due date. The percentages provided in the payment statistics section above include a number of inter-company transactions and payments made to other Lucy Group entities. If inter-company transactions are excluded from the statistics, then they are as follows; Average time taken to pay invoices; 45 days. Invoices paid within 30 days: 31%. In 31 to 60 days; 49%. In 61 days or more 20%.
Any other information about payment terms
No further comment provided
Dispute resolution process
We operate a three-way matching process, where the invoice, goods receipt and PO should match. Any discrepancies are referred back to the supplier. Invoices cannot be processed for payment unless the final invoice matches the original purchase order, in terms of quantity, price and quality. Any discrepancies are referred back to the supplier to update as required, which can cause delays in payment from the original due date. Suppliers can raise issues by contacting a dedicated email address, which are then dealt with by accounts payable and escalated to senior management and Group legal team where issues cannot be resolved directly.
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