Published reports

J.W.LEES & CO.(BREWERS)LIMITED

Company number: 00557225

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 October 2019 to 29 March 2020

Report filed on:

1 May 2020

Approved by:

Simon Cross

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

within 30 days: 20%
in 31 to 60 days: 67%
in 61 days or more: 13%

Late and disputed:

total value of payments due in the reporting period which have not been paid within the agreed period: £0
payments due in the reporting period which have not been paid within the agreed period: 30%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

Answer not provided

Standard payment terms

Following the supply of requested services / goods the supplier is entitled to submit an invoice. Once an invoice has been either approved or matched to an approved purchase order the invoice will be paid 30 days following the end of the month of the invoice date.

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

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

N/A

Maximum contractual payment period agreed

45 days

No further comment provided

Any other information about payment terms

COVID 19 has had a detrimental effect on the numbers due to the closure of pubs on 20th March and furlough of 98% of the work force leading to delays in paying in March. Adjusting for this impact average days to pay would reduce to 51, invoices paid after 60 days would reduce to 12% and invoices due but not paid within agreed terms would reduce to 19%

Dispute resolution process

Payment disputes are initially reported to Accounts Payable who will investigate the dispute with the individual making the purchase. When required the dispute will be escalated to the Department Head and Financial Controller and if necessary the Finance Director. Once resolved the supplier will be paid in accordance with its payment terms or if the invoice is past due then on the next payment run.

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.

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.

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?