GATES (U.K.) LIMITED
Company number: SC001771
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 22 October 2019
and approved by NATHAN ROGERS
Payment statistics
Average time taken to pay invoices: 64 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 30%
- in 61 days or more: 57%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Min contract payment terms - 30 days
Max contract payment terms - 90 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
1825 days
5 year lease for company car
Any other information about payment terms
N/A
Dispute resolution process
Invoices are three way matched to purchase order, if there is any issue on price or delivery charge the invoice is held pending manager approval. Invoices which are not 3 way matched such as traffic and utilities are approved by relevant department mangers
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.
Yes
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