SAMWORTH BROTHERS LIMITED

Company number: 03116767

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 31 January 2019

and approved by Flor Healy

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 57%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 71%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms range from 14 to 60 days dependent on sector in which the supplier operates

Were there any changes to the standard payment terms in the reporting period?

As part of a review of supplier payment terms, we have moved a number of our suppliers to payment terms of 60 days. This change was implemented part way through the reporting period

Were suppliers notified or consulted about these changes before they were made?

Letters and emails were sent out to all suppliers who were going to be impacted by this change

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Any complaints received will be investigated by our Purchase ledger teams. This would be escalated to the Head of Purchasing if appropriate

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 Prompt 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