GOV.UK
ASPIRE DEFENCE SERVICES LIMITED
Company number: 04556471
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 17 July 2018
and approved by Nigel Marsh - Finance Director
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 13%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Our standard payment terms are 30 days from date of invoice, however we do have a few suppliers that have payment terms of 60M (90 days from date of invoice) which is End of 2 months following. The suppliers on 90 days were part of a supply chain base we adopted from our previous parent company Carillion. This is currently under review and these suppliers may come in line with our standard 30 day payment terms in due course.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Very few suppliers have 90 day payment terms. Most have 30 days from date of invoice. The suppliers on 90 days were part of a supply chain base we adopted from our previous parent company Carillion. This is currently under review and these suppliers may come in line with our standard 30 day payment terms in due course.
Any other information about payment terms
N/A
Dispute resolution process
All supplier invoices come into a central Finance department for processing. They are input into our ERP system and payment terms are calculated as per terms set up in the system. If there is an issue on an invoice the supplier is contacted and the invoice is put in query, awaiting a reply or resolution from the supplier. Once the issue is resolved the invoice is then approved for payment.
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