GOV.UK
POUNDLAND LIMITED
Company number: 02495645
Reporting period:
1 April 2019
to 30 September 2019
This report was filed on 17 October 2019
and approved by David Williams
Payment statistics
Average time taken to pay invoices: 8 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 59%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 78 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
we do not operate standerd payment terms. payment terms and payment methods are agreed by the individual negotiations with each supplier.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
payment terms are negotiated on an individual basis with each supplier and the type of good or services purchased. Payment for the majority of our suppliers is via a weekly bacs payment run. As a result timings of our bacs payment runs verses the due dates on the invoices, some invoices fall as paid late 64% of invoices are paid within 1 week of the due date.
Any other information about payment terms
N/A
Dispute resolution process
All disputes relating to invoice payments should be refered to the accounts payable team (accounts.payable@poundland.co.uk). Disputes should reference invoice numbers and values as this will aid the investigation process. The accounts payable team will liasie internally with the relevant department any outstanding issues around price, quantity or delivery and provide progress updates.
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