GOV.UK
HACHETTE UK LIMITED
Company number: 02020173
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 30 July 2019
and approved by Pierre de Cacqueray
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 20%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are 30 days from date of invoice, however the industry norm for Publishing/Printing/Bind is end of month plus 90 days. All vendors who submit personal expenses via accounts payable have implied terms of zero days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
All Utility vendors are paid via Direct Debit
Our standard payment terms for goods and services are 30 days from date of invoice.
All Event invoices are paid within 14 days of date of invoice.
44% of all invoices due but not paid within the agreed terms were settled within 14 days of their due date.
Dispute resolution process
All invoices that are disputed are referred to the relevant buyer/approver.
The Accounts Payable team will follow up the dispute with the buyer until the dispute is resolved and payment can then be expedited. All disputes are resolved as quickly as possible and they will be escalated to a senior manager if the dispute is protracted.
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.
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