TRUE POTENTIAL LLP
Company number: OC380771
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
29 July 2025
Approved by:
Ben Thorpe
Payment statistics
Average time taken to pay invoices: 19 days
Total value paid:
- within 30 days: £18,522,250 (95%)
- in 31 to 60 days: £587,911 (3%)
- in 61 days or more: £434,857 (2%)
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £273,630
- payments due in the reporting period which have not been paid within the agreed period: 1%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
New suppliers are set up in line with terms on the invoice. For this period there were 50 Immediate, 2 x 10 days, 164 x 7 days, 69 x 14 days, 87 x 21 days, 258 x 30 days 1 x 45 days 1 x 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The dispute resolution process is as follows unless otherwise detailed in a relevant agreement.
Invoices can be returned by invoice approvers via our accounting system (Workday) to the supplier invoice work area complete with comments if to be disputed – this then places the invoice back in draft. The invoice can be placed on hold and then chased / resolved with supplier or returned to the approver via Workday by the purchase ledger team.
We aim to resolve disputes in a timely manner. This is, however, dependent, in part, on timely responses from the supplier to rectify any issues.
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 Fair 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