RADLEY + CO. LIMITED
Company number: 02573819
Reporting period:
29 April 2019 to 27 October 2019
Report filed on:
19 December 2019
Approved by:
Neil Cooper
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 44%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 66%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Radley & Co does not have standard payment terms, these are agreed with the suppliers at the outset. The most common terms of invoices paid in the period are 30 days UK suppliers. Suppliers for overseas imports are typically on 90 days terms.
Were there any changes to the standard payment terms in the reporting period?
Ongoing negotiations with stock suppliers can result in changes to payment terms.
Were suppliers notified or consulted about these changes before they were made?
The relevant terms arranged at meetings with suppliers in the UK and abroad.
Maximum contractual payment period agreed
90 days
Radley & Co places orders on proto types and samples. These become payable on the outcome of future orders. Therefor a settlement of samples and proto invoices various and can be longer than the normal 90 days trading terms.
Any other information about payment terms
Radley & Co overseas suppliers payment terms are effective from shipment date as orders are subject to long lead times. In addition, during the period being reported, Radley was in ongoing negotiation with its imported stock suppliers. This has had an impact on the proportion of payments to stock suppliers who are typically on longer payment terms.
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties - accounts payable, credit control and operational teams.
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