GOV.UK
PRETTYLITTLETHING.COM LIMITED
Company number: 07352417
Reporting period:
1 March 2019
to 31 August 2019
This report was filed on 30 September 2019
and approved by Paul Gary Papworth
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 33%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
60 days
Standard payment terms
Prettylittlething.com Limited's (PLT) standard payment terms are 14 days from date / receipt of invoice for British stock manufacturers (as of 1 August 2019) and 30 days from date / receipt of invoice for all other suppliers. Payment terms are mutually agreed with suppliers as part of contractual negotiations. Terms negotiated between PLT and suppliers can range between 1 and 60 days. There are no suppliers on contractual terms above 60 days.
Were there any changes to the standard payment terms in the reporting period?
Yes – With effect from 1 August 2019 standard payment terms with British stock manufacturers were changed to 14 days from date / receipt of invoice.
Were suppliers notified or consulted about these changes before they were made?
Yes – Changes to payment terms with British stock manufacturers were notified to all impacted suppliers via e-mail ahead of the changes being implemented and were publicly announced via a press release on 12 July 2019.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The point of contact for disputes is the PLT accounts payable department. When an invoice is disputed an internal investigation is undertaken and suppliers will be contacted to provide any additional supporting documentation or evidence required, or to issue a corrected invoice, in order to resolve the issue as quickly as possible.
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