Their own payment-practices filing · gov.uk

How long does Penningtons Manches LLP take to pay its suppliers?

CRN OC311575 · 8 statutory reports on record · period to 31 Mar 2021

74days

their reported average time to pay suppliers, latest period

Well behindvs a 31-day median across 6,185 recent filers

Self-reported figure from their statutory filing. How this is compiled.

Dated record. The latest report covers a period ending 31 Mar 2021 and the company hasn’t filed since (it may have dropped below the reporting threshold). Treat the figures as historical.

On the public register · Companies House

Company record

Status: Active
Type: Limited Liability Partnership
Incorporated: 15 Feb 2005
Registered office: 125 WOOD STREET, LONDON, EC2V 7AW

0 outstanding charges on the register Accounts due 31 Dec 2026

Open the full record at Companies House.

Terms vs reality

Stated terms: 30 days. Reported average: 74.

Stated terms30d

+44 days

Reported avg74d

At a glance

The key figures

30d

their stated terms

53%

invoices paid outside terms

+29d

slower over the window

±7d

variable pattern

Vs peers · latest reported averages

fasterslower

Slower than 97% of large companies reporting.

The pattern

Getting slower

Average days to pay across their last 6 statutory reports.

terms 30d

H2 2018H1 2019H2 2019H1 2020H2 2020H1 2021

Where their supplier invoices land · latest period

within 30 days 46% 31–60 days 24% 61+ days 30%

The read · computed from their figures

Penningtons Manches LLP has filed 8 statutory payment periods (earliest H2 2017). Their latest report puts the average at 74 days against stated terms of 30 days.

The direction is slower: from 45 to 74 days over the window — about 29 days slower.

In the latest period 53% of invoices were paid outside their agreed terms, and 30% landed 61+ days out.

In their own words · from the filing

Standard payment terms

The principal activity of Penningtons Manches Cooper LLP is the provision of legal services in the United Kingdom. There are two types of supplies: office purchases, which relate to the normal running of a business, and client related disbursements, which are passed on to our clients. Our standard policy is to pay all office related invoices within 30 days. As each invoice falls due they are included in the next payment run. For disbursements, such as third party lawyer fees, our standard practice is to pay these invoices within 2 days of receiving funds from our clients, in accordance with Solicitors Accounts Rules. Due to the variety of legal work that we perform, receipt of funds from clients may take several months to be received as it can be dependent on the completion of a transactio

Dispute resolution

All invoices in dispute are passed to the appropriate team that requested the goods or services in order for them to resolve the dispute. It may then be referred onto the senior management of the firm if necessary.

Every statutory report on record

Most recent first.

Period	Avg days	Outside terms	61+ days	Filed
H1 2021	74	53%	30%	10 May 2021
H2 2020	72	65%	39%	3 Nov 2020
H1 2020	67	58%	32%	30 Apr 2020
H2 2019	60	58%	28%	16 Oct 2019
H1 2019	68	60%	30%	16 Oct 2019
H2 2018	45	42%	17%	5 Nov 2018
H1 2018	44	49%	19%	11 May 2018
H2 2017	43	49%	17%	21 Feb 2018

Working-capital effect

What a 74-day cycle ties up

Illustrative. On a hypothetical £12k/month account, at a 74-day vs a 30-day payment cycle.

≈ £29,000

of invoicing outstanding at any one time on a 74-day cycle — about £17,300 more than the same account would carry at 30-day terms.

Late Payment Act. The Late Payment of Commercial Debts Act lets a supplier charge statutory interest and fixed compensation on invoices paid past agreed terms. Work out what a late invoice is worth → Whether it applies depends on your contract — check with an adviser.

Quick answers

Are they getting slower or faster?

Their reported average has moved about 29 days slower over the window (45 → 74 days).

What's their typical pay point?

Their latest reports average around day 74, moving within about ±7 days. Treat that as a historical reference point, not a promise for a new invoice.

Can I see what this means for my invoices?

Run the live check — it re-reads their record and their live Companies House file, on the amount you invoice.

Stay ahead

Watch Penningtons Manches LLP (free)

Their next payment report is due ≈ 27 Oct 2021. We watch their public record and email you when something changes — a new payment report, late filings, insolvency markers, new charges.

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How UK payment reporting works

What is a Payment Practices Report?

UK companies and LLPs above a size threshold — broadly, two of: turnover over £54m, balance sheet over £27m, or more than 250 employees — must report twice a year, under the Reporting on Payment Practices and Performance Regulations 2017, how quickly they actually pay suppliers: the average time to pay, the share of invoices paid in 30 days or fewer, 31 to 60 days and 61 days or longer, and their standard payment terms. Those thresholds apply to financial years beginning on or after 6 April 2025; for earlier financial years they were £36m and £18m, with the same 250-employee test.

What does "paid outside agreed terms" mean?

The share of invoices paid later than the terms in the supplier contract. If terms are 30 days and an invoice is paid on day 45, it counts as paid outside terms, regardless of the headline average.

How often is this data updated?

Each report covers a six-month period and must be filed within 30 days of that period ending, so a company's record refreshes roughly twice a year. PaidLate re-reads the register as new reports are filed.

Is this official government data?

The underlying payment figures come from the company's own statutory filings on the gov.uk payment-practices service; company-status data comes from Companies House. PaidLate calculates trends, comparisons and summaries from those records. It does not use surveys or credit-agency scores.

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-OC311575 · latest period to 31 Mar 2021

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