ROMAN ORIGINALS PLC
Company number: 00980843
Reporting period:
30 June 2018
to 29 December 2018
This report was filed on 15 May 2019
and approved by Peter Christodoulou
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 20%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Standard payment period for qualifying contracts
0 days
Standard payment terms
Generally speaking, imported finished goods are paid for on delivery at the port, raw materials are on 60 day terms, processing suppliers are on 3 working day terms, overheads are generally on 30 day terms. Rent and rate suppliers are payable in advance on an agreed date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
The Purchase Ledger department ensures good relationships are kept with suppliers. Any complaints or concerns suppliers have are referred to the Purchase Ledger department who will liaise with the supplier via email/ telephone to come to a mutual agreement. Any complaints or concerns are usually actioned the same day, or worse case scenario 48 hours, and aim to be resolved as soon as possible.
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