RESTORE PLC
Company number: 05169780
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
11 July 2019
Approved by:
Adam Councell
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 47%
- in 61 days or more: 21%
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: 64%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
We do not have standard terms from suppliers. Some are 7 days, others 30 days from the date of invoice, others 30 days from the end of the month and some are longer. Are longest term is 120 days.
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
120 days
We do not monitor payment terms. But there has been no changes to any during this period.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any matters that will knowingly cause a delay in payment are usually identified at the time invoices are sent for approval. The supplier is then contacted to discuss these matters and a resolution is agreed with them. Once the person authorising the invoices is satisfied the invoice is release for payment.
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