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HERON FOODS LIMITED

Company number: 01392197

Reporting period:
31 March 2019 to 28 September 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 October 2019

and approved by Paul McDonald

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 30%
• in 31 to 60 days: 60%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 16 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

There are a range of payment terms used for suppliers and Heron will pay each correct invoice on its next weekly or monthly payment run following the due date.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Our policy is to pay supplier on time and in accordance with the agreed supplier terms. Late payments generally arise as a result of invoice and purchase order discrepancies. Suppliers will raise payment queries with the finance team and they will work with the supplier and their Heron contact to resolve the query.

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