RADLEY + CO. LIMITED
Company number: 02573819
Reporting period:
29 October 2018 to 28 April 2019
Report filed on:
31 May 2019
Approved by:
Neil Cooper
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 55%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 64%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Radley + Co does not have standard payment terms, these are agreed with supplier at the outset. The most common payment terms of invoices paid in the period are 30 days for UK supplier, overseas suppliers on imports are on 90 day terms.
Were there any changes to the standard payment terms in the reporting period?
Reduction of terms for certain overseas stock suppliers.
Were suppliers notified or consulted about these changes before they were made?
The relevant teams arranged meetings with suppliers in the UK and abroad.
Maximum contractual payment period agreed
90 days
Radley + Co places orders on proto types and samples. These become payable on the outcome of future orders. Therefore settlement of samples and proto invoices varies and can be longer than the normal 90 day trading terms.
Any other information about payment terms
Radley + Co’s overseas suppliers payment terms are effective from shipment date, as order are subject to long lead times. In addition, during the period being reported, Radley was in ongoing negotiation with its imported stock suppliers. This had an impact on the proportion of suppliers paid in 30 days and 60/90 day terms.
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties – accounts payable, credit control departments, procurement and sales teams.
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.
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