GOV.UK
PPG ARCHITECTURAL COATINGS UK LIMITED
Company number: 00436135
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 29 July 2019
and approved by Felicity Parry, Finance Director
Payment statistics
Average time taken to pay invoices: 95 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 18%
- in 61 days or more: 77%
Invoices due but not paid within agreed terms: 56 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
All qualifying contracts can be categorised as follows:
Raw Material- 90 days from invoice date;
Goods For Resale- 60 days end month;
Packaging- 90 days from invoice date;
General Purchasing - 60 days from invoice date;
Logistics - 45 days end of month;
Intercompany - 1 day = equivalent immediate
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
150 days
Any other information about payment terms
The Company does not currently have in place a system to capture for all invoices the date of receipt of each invoice. As a consequence the Company has decided to use as the start date the date of invoice.
Similarly, the Company’s systems do not have the functionality to identify for all invoices the actual date that the supplier received payment. Also, the Company’s payment systems are set up only to pay invoices on the due date for payment. Accordingly, in its calculation of the time taken to pay each invoice, the Company has added (in accordance with the UK Government’s guidance) the standard time it takes for a payment to clear in the supplier’s bank account (depending on the method of payment).
This approach has no doubt contributed to an artificial inflating of the number of days it takes to pay invoices. Accordingly, this should be borne in mind when reviewing the Company’s responses.
If the Company was able to re-set the date of payment 3 days earlier than the payment due date (to ensure each supplier received payment of its invoice in cleared funds), then the actual statistic would be reduced to 27% for this reporting period.
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. Our suppliers can contact AP department via email: accountspayable.acuk@ppg.com and should receive reply within 2 working days. These contact details can be found on the purchase orders
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.
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.
Yes
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