MORLEYS STORES LIMITED
Company number: 00054257
Reporting period:
1 February 2019 to 31 July 2019
Report filed on:
4 October 2019
Approved by:
Philip Duggan
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 17%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
105 days
Standard payment terms
These are the different payment terms depending of the supplier:
Immediate payment
7 days
10 days
15 days
21 days
30 days
45 days
60 days
75 days
105 days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
105 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The main dispute is related to overdue invoices due to non-receipt of them. The suppliers are encouraged to send the invoices electronically to the respective store email address. We also request to receive a regular statement from the suppliers in order to reconcile the outstanding invoices and arrange for payment.
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 Fair 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