GOV.UK
MINI CLUB UK LIMITED
Company number: 01781095
Reporting period:
6 October 2018
to 30 March 2019
This report was filed on 1 May 2019
and approved by Glyn Hughes
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 15%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 63 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
Mini Club has the following standard payment terms with its suppliers:
Goods for re-sale 90 days from date of invoice
Goods not for re-sale 60 days from date of invoice
These terms vary based on individual agreements
Suppliers are made aware of payment run cycles
Goods for re-sale payment runs are submitted twice a week
Goods not for resale payments are submitted once a week
These impact payment within agreed terms but suppliers are aware of these payment cycles
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Contract are negotiated on a case by case basis with relevant variables taken in to consideration
Any other information about payment terms
Contractually Mini Club deduct debit notes from invoices through Accounts Payable and this can impact the payment timing
Dispute resolution process
Disputes are dealt with on a case by case basis by the Accounts Payable team, passed to the relevant stakeholders for investigation and resolution
Once resolved, the supplier will be paid in accordance with their terms or on the next available payment run
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.
Yes
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