MENZIES DISTRIBUTION SOLUTIONS LIMITED
Company number: 03805401
Reporting period:
2 July 2023 to 30 December 2023
Report filed on:
29 January 2024
Approved by:
Paul McCourt
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 44%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Supplier set up form is completed using terms of 60 days from date of invoice, which are our standard AP payment terms. Set up of accounts other than this must be approved by the Group Finanical Controller. For subcontractors, an agreement is signed confirming payment terms prior to engagement.
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
91 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Payment enquiries can be emailed to the company Accounts Payable team. Payment terms enquiries are normally responded to within 7 working days, following internal review, subject to availability of Group Financial Controller input. Invoices that do not contain a valid Purchase Order or a Purchase Order that has been fully utilised will be returned via email to the supplier with instructions of what steps to take next.
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