Their own payment-practices filing · gov.uk

Penningtons Manches LLP paid suppliers in 74 days on average — 44 days past its stated terms

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

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.

74daysavg time to pay · H1 2021

Their H1 2021 filing put the average 44 days past the 30-day term they state.

Their stated terms: 30 days
Paid outside agreed terms: 53% of invoices
Paid after 61+ days: 30%
Reporting period: 1 Oct 2020 – 31 Mar 2021
Source: their gov.uk filing, filed 10 May 2021

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

Terms vs reality · their H1 2021 filing

Paid 44 days past their stated terms

PAIDLATE · terms vs the clockdays to pay · 0–80

avg 74d

0 days80 days

reported avg 74 days their filed terms 30 days UK median 31 days · n = 6,104 recent filers

Where their invoices landed · share of all invoices

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

Source: their statutory Payment Practices Report #44811, period 1 Oct 2020 – 31 Mar 2021, filed 10 May 2021 · gov.uk payment-practices service

Penningtons Manches LLP paid 44 days past its own stated terms. 53% of invoices still went outside agreed terms; 30% reached 61 days or more. Self-reported in their statutory H1 2021 filing.

The pattern · last 6 of 8 reports

45 → 74 days — slower across the window

PAIDLATE · the patternavg days per report

Last 6 of 8 filed reports · linear day scale · every period is in the table below · Source: gov.uk payment-practices service

29 days slower across the window. From 45 days in H2 2018 to 74 in the H1 2021 filing; the dashed line marks the 30-day term they state.

The read · computed from their figures

Penningtons Manches LLP's H1 2021 filing put their average at 74 days against stated terms of 30 days; 53% of invoices were paid outside agreed terms and 30% took 61 days or longer. Filed 10 May 2021.

The direction is slower: from 45 days in H2 2018 to 74 now — 29 days slower across their last 6 reports.

That is 8 statutory periods on record (earliest H2 2017) — a historical record, not a promise for a new invoice.

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

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.

Illustrative · working-capital arithmetic

What a 74-day cycle ties up

A worked example, not a finding. 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 (Interest) Act 1998 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 · Penningtons Manches LLP

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 filed report put the average at day 74; across their last 6 reports it ranged 45–74 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)

They haven’t filed a payment report since 10 May 2021. We watch their public record and email you when something changes — a new payment report, late filings, insolvency markers, new charges.

You’ll get a confirmation email first. Unsubscribe any time. How we handle your address.

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 6,104 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

Verify the original Companies House file

Built by YORXEN LTD · registered in England & Wales · CRN 17303256 · privacy · terms.