MICHAEL I HOLDSWORTH LIMITED
Company number: 02027459
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
27 March 2019
Approved by:
Mrs RJC Warhurst
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 71%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 83%
Payment terms
Shortest standard payment periods
10 days
Longest standard payment period
60 days
Standard payment terms
Weekly payments terms for local suppliers 20th of the month following the month of supply End of the month following the month of supply Rates bills are paid over 306days by Direct Debit Utility suppliers have special terms paid by DD We do not pay any supplier without a statement
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
306 days
This is only for part paying Rates bills over the year
Any other information about payment terms
No further comment provided
Dispute resolution process
Incorrect prices, short deliveries, none delivery of goods, wrong goods delivered, damages goods, returned goods or goods that need returning - all need to be resolved before payment can be made. Holdsworth will email/write to the supplier and request credit notes, uplift of goods or meeting to resolve pricing issues. This can take months with Larger/International suppliers.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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