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LIZ EARLE BEAUTY CO. LIMITED

Company number: 03070395

Reporting period:
1 September 2017 to 28 February 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 March 2018

and approved by Rosemary Counsell

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 43%
• in 31 to 60 days: 37%
• in 61 days or more: 20%

Invoices due but not paid within agreed terms: 45 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

75 days

Standard payment terms

Our standard terms are 75 days end of month (unless agreed otherwise). This means that payment will be made on the 75th day (or following business day should this fall on a weekend or public holiday) after the end of the month of invoice.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

75 days

Any other information about payment terms

N/A

Dispute resolution process

“The main point of contact for invoice queries is Liz Earle's Accounts Payable team, who manage the approval of invoices and follow internal processes to deal with and resolve invoice queries. Disputed invoices are dealt with by the Liz Earle Sourcing Team, who aim to respond to all queries within 2 business days of receiving all of the relevant information (PO number, Invoice Number & supporting documents – i.e. approved costs from Liz Earle).”

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.

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