Their own payment-practices filing · gov.uk
How long does Novitas Loans Limited take to pay its suppliers?
Self-reported figure from their statutory filing. How this is compiled.
On the public register · Companies House
Company record
- Status
- Active
- Type
- Private Limited Company
- Incorporated
- 21 Feb 2012
- Registered office
- 10 CROWN PLACE, LONDON, EC2A 4FT
Terms vs reality
Stated terms: 30 days. Reported average: 20.
At a glance
The key figures
Vs peers · latest reported averages
The pattern
Getting faster
Average days to pay across their last 5 statutory reports.
Where their supplier invoices land · latest period
The read · computed from their figures
Novitas Loans Limited has filed 5 statutory payment periods (earliest H1 2021). Their latest report puts the average at 20 days against stated terms of 30 days.
The direction is faster: from 24 to 20 days over the window — about 4 days faster.
In the latest period 24% of invoices were paid outside their agreed terms, and 4% landed 61+ days out.
In their own words · from the filing
Standard payment terms
Novitas Loans Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Group’s policy is to pay within 60 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
Dispute resolution
Novitas Loans Limited and the supplier will first attempt to resolve any dispute by referring it for formal discussion between Novitas Loans Limited authorised representative and the supplier (both acting reasonably and in good faith). If Novitas Loans Limited authorised representative and the supplier are for any reason unable to resolve the dispute within 14 days of the date of its referral to them, the dispute may be referred to court by either Novitas Loans Limited or the supplier.
Every statutory report on record
Most recent first.
| Period | Avg days | Outside terms | 61+ days | Filed |
|---|---|---|---|---|
| H1 2023 | 20 | 24% | 4% | 29 Aug 2023 |
| H1 2023 | 22 | 16% | 4% | 28 Feb 2023 |
| H1 2022 | 17 | 13% | 1% | 26 Aug 2022 |
| H1 2022 | 19 | 18% | 3% | 2 Mar 2022 |
| H1 2021 | 24 | 16% | 8% | 26 Aug 2021 |
Quick answers
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How UK payment reporting works
What is a Payment Practices Report?
What does "paid outside agreed terms" mean?
How often is this data updated?
Is this official government data?
How this is compiled. Built from official records only: Companies House and the gov.uk payment-practices service. The payment figures are self-reported — companies over the size threshold must file them by law and the board signs them off. No credit-agency data. The numbers are theirs; the plain-English read is ours. This is information compiled from public records under the Open Government Licence v3.0 — not a credit rating and not advice.
The 31-day comparison figure is the median across 6,185 companies with a current statutory report — every sector pooled, not an average of sector medians (how the figure is built).
Report PL-07959031 · latest period to 31 Jul 2023
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