LEATHAMS LIMITED

Company number: 01689381

Reporting period:
1 November 2017 to 30 April 2018

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This report was filed on 18 May 2018

and approved by Douglas Dunbar

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 12%
• in 31 to 60 days: 64%
• in 61 days or more: 24%

Invoices due but not paid within agreed terms: 75%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

45 days

Standard payment terms

For stock invoices our standard payment terms are 'End of Month Following' (45 days) For non stock invoices our standard payment terms are 30 days

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

75 days

We make two payments a month. Once mid month and once at the beginning of the month. As most of our invoices are end of month following we are usually a few days late with our standard payments. This is something our suppliers are comfortable with.

Any other information about payment terms

N/A

Dispute resolution process

Non Stock It is up to the budget / invoice holder to resolve any 'non-stock' invoice disputes. Stock Price disputes on stock items (variances to the Purchase Order) are sent to our Procurement team to resolve directly with the supplier. Quantity disputes are largely dealt with by our Purchase Ledger teams. PODs are provided to validate any dispute.

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, 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