BETA This is a new service – your feedback will help us to improve it.


Company number: 02296559

Reporting period:
1 July 2018 to 31 December 2018

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

This report was filed on 30 January 2019

and approved by Paul Skelton

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

Invoices due but not paid within agreed terms: 72 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

We strive to make payment to our third party suppliers within 30 days. This is controlled via supplier master data held within our SAP system

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

Yes – Historically, payment terms were agreed and set at individual supplier account level. During 2018, the decision was taken to revert to 30 day payment terms for all third party suppliers.
We have based our calculation on invoices outside agreed terms on the assumption that all suppliers were entitled to 30 day terms throughout the reporting period. Therefore, we would expect to see this ratio improve in future periods.

Were suppliers notified or consulted about these changes before they were made?


Maximum contractual payment period agreed

60 days

Any other information about payment terms

Given that our business makes weekly BACS payment runs, there are a large volume of payments that are received by suppliers within 5 days of our 30 day target.
Taking this factor into account, the percentage of invoices that were paid outside terms would reduce from 73% to 28% in this reporting period.
Finally, to note, our system records the date stated on the invoice, the ‘posted date’ (ie date the invoice is approved for payment) and the payment date. Our SAP system does not record the date the invoice is physically received. We have based our measurements on the stated invoice date therefore have been prudent in this report.

Dispute resolution process

Invoice queries are usually raised either on management review (via a web-based invoice approval portal), or due to discrepancies between invoices and our purchase order (system based control).
In either case, our Accounts Payable / Purchasing teams will discuss with suppliers on a case by case basis to reach a resolution. There is no fixed target in terms of timescales, however a report of blocked invoices is reviewed weekly to identify issues that need to be escalated.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?