W & J LINNEY LIMITED

Company number: 00137552

Reporting period:
1 November 2017 to 29 April 2018

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This report was filed on 30 May 2018

and approved by Carl Drake

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

• within 30 days: 20%
• in 31 to 60 days: 30%
• in 61 days or more: 50%

Invoices due but not paid within agreed terms: 82%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

90 days

Standard payment terms

Our standard payment terms are 60 days from date of invoice, with the exception of larger paper and outwork suppliers, who are predominantly on 90 days from date of invoice. However, we do have a significant amount of 'smaller' suppliers, who we endeavour to pay between 1 - 14 days, depending on the size of the account and the suppliers cashflow needs. As you can see our published average days to pay of 59 days is within our 60 day standard terms.

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

90 days

No further comment provided

Any other information about payment terms

The data we have provided includes many invoices that have only been paid late, due to us receiving these invoices late from our suppliers and in addition to this also includes invoices that are in dispute. As a business we will always try and pay to our agreed supplier payment terms, but unfortunately we only do a payment run once a week on a Friday, which invariably will result in most of our payments to appear late, even if only by one or two days. However, we are investigating the possibility of moving to daily payment runs going forward to ensure our suppliers invoices are paid to terms.

Dispute resolution process

Individuals approving invoices will notify both our accounts department and the supplier themselves if an invoice is in dispute. Depending on the nature of the dispute, will determine the timescale and next steps for each individual queried invoice.

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