POWER4ALL LIMITED

Company number: 06222064

Reporting period:
1 January 2022 to 30 June 2022

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This report was filed on 29 July 2022

and approved by Steven Nuttall

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

• within 30 days: 92%
• in 31 to 60 days: 3%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 11%

Payment terms

Shortest standard payment periods

10 days

Longest standard payment period

60 days

Standard payment terms

Standard contractual payment terms state that Power4All will pay each correct invoice on our next weekly payment run following 60 days from receipt of the invoice. Power4All may agree to shorter payment terms with its suppliers as part of a contract or if required by electricity market regulations.

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If a Power4All supplier raises a query in respect of an outstanding invoice, payment or deduction, in the first instance it is handled by the Accounts Payable team. Queries are handled through a clear process, which works on a 7 working day SLA from receipt of all relevant supporting documentation. If necessary the Accounts Payable team will refer to other business areas (for example stores, depots or merchants) to resolve the enquiry. If the matter remains unresolved within the target turnaround time, it may be escalated to senior leadership.

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