Company number: 06275653
and approved by Robert Goodhew
Average time taken to pay invoices: 157 days
Invoices paid:
Invoices due but not paid within agreed terms: 53%
30 days
Answer not provided
End of month of date of invoice plus 60 days
Answer not provided
N/A
90 days
This is based on receiving an invoice at the start of a month with payment made at the end of month plus 60 days.
During this period, the company carried out an exercise with one of its key national suppliers to reconcile historic balances. As part of this exercise, 2,980 invoices over 90 days old and less than £50 each were paid to this supplier in this period, with a total value of approximately £29,000. If these invoices were excluded then the "Average days taken from date of receipt" in the period would reduce to 77 days.
Invoices can be placed in dispute for various reasons and this is recorded in our accounting system. Suppliers would initially raise a query with our accounts payable team and this would be dealt with or passed to a business stakeholder to be resolved. Subcontractors would generally liaise with the commercial or operational teams to resolve any disputes. If the dispute cannot be resolved our procurement team will assist in any resolution. Ultimately the dispute may be passed to our legal team or CFO to resolve.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No