GOV.UK
SHOREFIELD HOLIDAYS LIMITED
Company number: 00607997
Reporting period:
1 November 2017
to 30 April 2018
This report was filed on 29 June 2018
and approved by Paula Curtis
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 57%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 30 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
365 days
Standard payment terms
The majority of suppliers are paid at the end of the month following invoice as we have a large number of suppliers some of these can be sending invoices 2 or 3 times a week to all of our 8 parks.
Some of the food and brewery suppliers are paid by direct debit on 14 day terms.
Caravan and lodge manufacturers give us bespoke terms depending on the type/cost of the unit being purchased. Many of these are on extended credit terms ranging from 30 days to 365 days, with an over-riding "payment when sold" basis, which means that immediately we resell that unit on to a customer payment becomes due.
CIS sub-contractors terms are varied but these are generally paid within 21-28 days, agency. entertainment, non-CIS sole traders and other "staff" costs e.g. consultancy are usually paid within 14 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
365 days
365 days is the maximum credit given from a holiday home manufacturer, however when the unit is sold payment is due immediately.
Any other information about payment terms
We try and be as flexible with payment terms as financially viable as we have a large range of suppliers who differ cosiderably in size and complexity.
Dispute resolution process
Payments complaints should be made in the first instance to the Accounts Payable Team either by:
phone on 01590 648354 or email accounts-payable@shorefield.co.uk
If the issue is not resolved it can be escalated to the Accounts Office Manager; Jacqui Hammond on 01590 648351 or by email to jacqui.hammond@shorefield.co.uk
If the dispute/complaint is still not resolved after 1 month it will be investigated by the Company Account/Director Paula Curtis - email to paula.curtis@shorefield.co.uk
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