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BEACONSFIELD FOOTWEAR LIMITED

Company number: 00641365

Reporting period:
29 July 2018 to 27 January 2019

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

This report was filed on 26 February 2019

and approved by Andrew Buckley

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 48%
• in 31 to 60 days: 45%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 83 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

Our large raw materials & footwear suppliers are typically on 30 - 45 days credit. The vast majority of our other suppliers are mainly on 30 days terms.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

The "Percentage of invoices not paid within agreed terms" statistic is a function of our weekly payment routines. On the payment run dates the majority of the invoices will be technically overdue by a few days at most; hence our average payment time being only 34 days.

Dispute resolution process

Any disputes are dealt with in the first instance by either the Accounts Payable team or through the department that originally agreed the contract. If a resolution can not be found it is then escalated up to senior management and ultimately to the Directors.

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