GOV.UK
HAVEN POWER LIMITED
Company number: 05893966
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 30 January 2020
and approved by Carl Goulton
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
45 days
Standard payment terms
Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms by supplier in the period was 30 days. A number of our suppliers are on shorter terms of 14 days. These suppliers make up the majority of invoices paid, giving the number of average days to paid of 13.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes should be sent to the following email address; purchase.ledger@havenpower.com
This email is monitored daily by Accounts Payable.
On receipt of any invoice queries, Account Payable check whether: -
•The invoice is for Haven Power Ltd
•We have authorised supplier details and bank account for payment
•If applicable, a Purchase Order (PO) number is quoted and matches an approved order number
•If applicable, the invoice details match the approved PO for quantity, price, and description of supply
•If applicable, the PO has been receipted
•The invoice has not already been paid
•We have received a copy of the invoice
Once the above has been checked a number of courses of action can be taken.
If invoices are likely to be overdue, due to authorisation processing, they are normally picked up on the next scheduled BACS run. In exceptional circumstance a CHAPS payment for emergency payments can be made.
Certain contracts have a clause which enables the supplier to claim interest on late payments.
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.Yes – Prompt payment code
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