SHORT BROTHERS PLC

Company number: NI001062

Reporting period:
1 January 2021 to 30 June 2021

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This report was filed on 28 July 2021

and approved by Colin Thompson

Payment statistics

Average time taken to pay invoices: 58 days

Invoices paid:

• within 30 days: 23%
• in 31 to 60 days: 30%
• in 61 days or more: 47%

Invoices due but not paid within agreed terms: 85%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

60 days

Standard payment terms

Payment terms are usually 45 days from the end of the month in which an invoice is received. Payments are made on the next available payment run. That is, at the end of the week they fall due

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

Answer not provided

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

N/A

Maximum contractual payment period agreed

120 days

No further comment provided

Any other information about payment terms

Whilst 85% of our invoices were not paid within our payment terms, this is as a result of invoices being paid on the next available payment run, that is, at the end of the week they fall due. 81% of our invoices were paid on time or within 7 days of their due date.

Dispute resolution process

The Accounts Payable Department will refer the invoice to the relevant purchasing department for investigation and resolution diretly with the supplier, if appropriate, or the Account Payable Department will resolve directly with supplier's Accounts Receivable Department.

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