BANNATYNE FITNESS LIMITED
Company number: 03287770
Reporting period:
1 July 2019 to
31 December 2019
This report was filed on 22 January 2020
and approved by Ken Campling
Payment statistics
Average time taken to pay invoices: 70 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 23%
- in 61 days or more: 63%
Invoices due but not paid within agreed terms: 26%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard terms 60 days from the end of the month of the invoice date
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Bannatyne Fitness Ltd dispute resolution process for suppliers Contact routes for resolution: Procurement/ purchase order queries Supplier invoice queries - purchaseledger@bannatyne.co.uk Phone 01325 356677 All invoices and statements should be sent to the email above. Invoices cannot be processed or paid without a valid Bannatyne purchase order number for us to match to. Please do not supply goods without one. We will contact you to return any invoices without a purchase order. If any invoice is disputed or a credit note is required we will contact you by email within 3 weeks of receipt. We will reconcile the statement you send at the end of the month and contact you to let you know if we are missing invoices. We will pay invoice by Bacs after each month end and you will be emailed a remittance advice. Our standard terms are 60 days from end of month.
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, 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.
Yes
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