GOV.UK
NEWTON EUROPE LIMITED
Company number: 04279175
Reporting period:
1 March 2019
to 31 August 2019
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 25 October 2019
and approved by George King
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 22%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 57 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Most frequently used payment terms are 30 days, we operate based on terms provided by our supplier. We have a number of new/ irregular suppliers with no payment terms and therefore we pay on the nearest payments run after the invoice has been through our approval process.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
The supplier is called by the Finance Team and appropriate action is taken in a timely manner. If escalation is needed, it will be passed to the account manager in the relevant approving department.
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