GOV.UK
CHELTON LIMITED
Company number: 00896823
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 19 March 2019
and approved by Matt Bealey
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 41%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 53 %
Payment terms
Standard payment period for qualifying contracts
75 days
Standard payment terms
Our standard contractual length for payment of invoices is 75 days from receipt of invoice. We do however undertake specific negotiations with suppliers in certain circumstances which may be informed by, amongst other considerations, our own payment receipts profile from ultimate end users of our products and flow down contractual requirements from our own customers.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Our standard contractual length for payment of invoice is 75 days and there has been no change in the reporting period. No later dates were negotiated with suppliers during the reporting period.
Any other information about payment terms
N/A
Dispute resolution process
Suppliers are notified of any changes to these policies in writing and during the ordering process for parts and services. Disputes related to payment can be raised by suppliers directly with local finance teams, the procurement team and business general manager either verbally or in writing. Any query or dispute raised is addressed as soon as practical and the supplier engaged as 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 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