SHOP DIRECT FINANCE COMPANY LIMITED

Company number: 04660974

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 12 November 2024

and approved by Nick McBrien

Payment statistics

Average time taken to pay invoices: 64 days

Invoices paid:

• within 30 days: 14%
• in 31 to 60 days: 36%
• in 61 days or more: 50%

Invoices due but not paid within agreed terms: 99%

Payment terms

Shortest standard payment periods

90 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard payment terms are 90 days (but this is negotiable) from date of invoice, with payment made on the next available payment run following the due date.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Any payment disputes are dealt with by the P2P team in the first instance through dedicated mailboxes with an SLA of 72 hours for resolution. If the matter remains unresolved, it will be escalated to senior management. Ultimately, the matter may go to arbitration with a mutually agreed arbitrator.

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