LIKEWISE FLOORS LIMITED
Company number: 03220392
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
30 July 2025
Approved by:
Tony Brewer
Payment statistics
Average time taken to pay invoices: 62 days
Total value paid:
- within 30 days: £9,074,624 (14%)
- in 31 to 60 days: £9,315,140 (15%)
- in 61 days or more: £45,227,799 (71%)
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 26%
- in 61 days or more: 55%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £9,122,487
- payments due in the reporting period which have not been paid within the agreed period: 10%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
135 days
Standard payment terms
Given the large diverse supplier base, no single standard payment term arrangements exist, with each negotiated individually with the supplier with whom the Group has long-standing relationships. For the majority of suppliers, payments are typically made by the end of the second or third month from date of invoice with settlement discount available where compliant. Overhead suppliers, are typically paid on standard terms of end of first or second month payment runs (i.e. 30 - 60 days). Amendments to terms are agreed between both parties periodically.
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
135 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
When discrepancies arise in stock purchases—whether related to quantity or price—the system's auto-matching process will fail, triggering the need for manual invoice review. Once the issue is identified, a debit note is generated in the system and sent to the supplier, outlining the nature of the dispute. If the supplier acknowledges the error, they issue a credit note, which is then matched to the original debit note in the system. This matching process enables the invoice to be adjusted and approved. Once authorised, the invoice is scheduled for payment in the next payment run.
For overhead invoices, approval is granted by the relevant purchasing manager based on an existing contract, order or quotation. If discrepancies are identified, they are communicated to the supplier. A credit note may be issued to address any differences, or the purchasing manager may approve the invoice for payment as-is.
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.
Yes
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