RATIONAL UK LIMITED
Company number: 02576032
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
9 July 2025
Approved by:
Michael Keeley
Payment statistics
Average time taken to pay invoices: 11 days
Total value paid:
- within 30 days: £3,354,279 (73%)
- in 31 to 60 days: £1,256,940 (27%)
- in 61 days or more: £10,517 (< 1%)
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 4%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £672,649
- payments due in the reporting period which have not been paid within the agreed period: 4%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
236 days
Standard payment terms
Average payment term is 14 days - this accounts for 66% of all vendor invoices
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
236 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are resolved locally between the company and the supplier. We have a strong commitment to prompt payment. A number of our suppliers still use a "pay immediately" statement on their invoices with no payment term - this results in the invoice being considered as a late payment in the statistic (approximately 30% of all of our late payments)
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