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CAFE ROUGE RESTAURANTS LIMITED

Company number: 00425057

Reporting period:
29 May 2017 to 28 November 2017

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

This report was filed on 21 December 2017

and approved by G David

Payment statistics

Average time taken to pay invoices: 1000 days

Invoices paid:

• within 30 days: 0%
• in 31 to 60 days: 0%
• in 61 days or more: 100%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

1000 days

Standard payment terms

This business only receives charges through via intercompany as contracts are held with the parent company, payment terms on intercompany invoices are 1,000 days.

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

No

Maximum contractual payment period agreed

1000 days

1,000 days (for intercompany invoices)

Any other information about payment terms

This Company only transacts via intercompany invoices. Invoices from suppliers for goods and services are settled by the parent company.
The Payment statistics for the Parent Company are:
Invoices Paid within 30 days 11%, in 31 to 60 days 57%, in 61 days or more 32%.
Invoices due and paid within agreed terms is 62%
Shortest payment terms: 1 day
Longest payment terms (excluding Intercompany): 120 days

Dispute resolution process

Intercompany invoices are tracked, reconciled and agreed by the accounting team on a periodic basis. Any issues would be escalated to the Finance Manager or Financial Director.
Invoice resolution for the Parent Company is that the issues are initially raised with the Accounts Payable team in London, if resolution cannot be reached then the issue is escalated to the account manager and the Finance Director.

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