LAKELAND LIMITED
Company number: 00809688
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
10 March 2026
Approved by:
Richard Andrew Jones
Payment statistics
Average time taken to pay invoices: 39 days
Total value paid:
- within 30 days: £27,912,462 (59%)
- in 31 to 60 days: £15,553,951 (33%)
- in 61 days or more: £3,686,395 (8%)
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 39%
- in 61 days or more: 16%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £6,663,221
- payments due in the reporting period which have not been paid within the agreed period: 9%
- not made in the reporting period due to a dispute: 2%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
E60 - End of month plus 60 days
Were there any changes to the standard payment terms in the reporting period?
Moved to end of month plus 60 days from 30 days.
Were suppliers notified or consulted about these changes before they were made?
All suppliers received a letter notifying them of the changes, in advance of the changes being made. Where appropriate, conversations were held with the supplier and the business owner to ensure a common agreement.
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Lakeland is committed to dealing with its suppliers in a fair manner. Initial contact is via the Accounts Payable team, who have a dedicated email address. Each supplier has a business owner, who they are able to proactively liaise with on a day to day basis. Disputes can be escalated to the Finance Leadership team and ultimately the Executive Team as and where appropriate.
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