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GOURMET BURGER KITCHEN LIMITED

Company number: 03970045

Reporting period:
25 August 2018 to 24 February 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 21 March 2019

and approved by Gerard Carolan

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 70%
• in 31 to 60 days: 26%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Shortest standard payment period

31 days

Longest standard payment period

61 days

Standard payment terms

Gourmet Burger Kitchen Limited ("GBK") has standard payment terms which dictate that payment is made no later than 30 days after the end of the month in which GBK receive the supplier's invoice.

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

No

Maximum contractual payment period agreed

61 days

Due to the standard payment terms that GBK has with its suppliers of "month end plus 30 days", the standard payment period days ranges from 31 - 61 days. However, based on actual payment dates in the period GBK has an average payment period of 22 days.

Any other information about payment terms

N/A

Dispute resolution process

Any discrepancies or disputes are highlighted through internal processes and periodically reviewed with suppliers. All invoices received by GBK must be approved by the relevant department. As part of this process, any invoices which are being queried/are under dispute will be put on hold and only be paid once the query/dispute has been resolved. All disputed invoices will be managed by the relevant department (i.e. marketing, HR) and this process will be overseen/followed up by the account department to ensure that invoice disputes are being resolved in a timely manner.
All invoices should be sent to accountspayable@gbk.co.uk, with the exception of property related invoices. Any invoices in relation to property should be sent to gbkpropertyinvoices@gbkrestaurants.com. Physical invoices should be sent to: Gourmet Burger Kitchen, Suite C 1, Lindsey Street, London, EC1A 9HP.

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