GOV.UK
SHARP'S BREWERY LIMITED
Company number: 04729760
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 January 2019
and approved by Simon Kerry
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 47%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 11 %
Payment terms
Standard payment period for qualifying contracts
90 days
Standard payment terms
Sharp’s shall process payment of an invoice on the first Payment Date following the expiry of the 90 days’ period commencing on the later of the receipt of a valid VAT invoice delivered in accordance with the contract or the acceptance of the goods by Sharp’s. Payment shall be made to the bank account nominated in writing by the supplier.
“Payment Date” means the next payment run. Payments are processed fortnightly on a Wednesday for receipt of payment on a Friday.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Our maximum payment period entered into within the reporting period is 90 days.
Any other information about payment terms
Our standard payment period is 90 days from the date of receipt of a valid invoice and invoices that
are due and free for payment are included in the subsequent payment run.
Our payment terms reflect the high operating cost associated with our industry.
Dispute resolution process
We believe that it is important to provide our suppliers with a fair and transparent dispute resolution process which deals with what actions they can take if and when a dispute or concern arises. Our invoice process and dispute resolution process is available to suppliers.
Invoices with price and quantity discrepancies outside accepted tolerances will not be included in payment until the mismatch is resolved. All discrepancies are investigated internally by the buyers to verify if the invoice is correct or not; this is typically the person who placed the order with you. The buyer will inform you of any discrepancy, the reason for the rejection and the action required. Please ensure that your contact details are up to date and correct. These can be updated by contacting ap@sharpsbrewey.co.uk.
Where a credit note is issued, please check that the cause of the error is resolved to avoid further discrepancies. Discrepancies create additional work for both parties and create risk of a delay to payment.
Please contact the Accounts Payable by phone or e-mail for status updates of individual invoices.
Our accounts payable team endeavour to provide a first response within 3 working days of receiving a query.
Email:ap@sharpsbrewey.co.uk
Tel: 01208 864890
Please avoid sending duplicate invoices for invoices in query.
If you are unable to reach a resolution to an issue or have any concerns, please escalate this to your Sharp’s relationship owner.
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
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