WILLIAM HILL ORGANIZATION LIMITED
Company number: 00278208
Reporting period:
3 July 2019
to 31 December 2019
This report was filed on 30 January 2020
and approved by Ruth Prior
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 29%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 66 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
William Hill’s standard payment terms are 30 days from receipt of invoice. Payment terms are agreed with all regular suppliers at the point of account application and set up.
In specific cases, for example where requested by smaller suppliers for cashflow purposes, or as a reflection of historically agreed terms with longer standing suppliers, we also agree non-standard payment terms. This may be by accepting our supplier’s terms or by mutual agreement of shorter, bespoke payment terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
The Group’s standard payment terms of 30 days apply to the majority of suppliers, although a small number have agreed to terms of up to 45 days. New terms allowing up to 60 days are being agreed with a small number of suppliers.
Any other information about payment terms
William Hill processes payments at least weekly and seeks to ensure that all authorised invoices are settled promptly, thereby minimising issues for suppliers. New system improvements are also anticipated to deliver supplier payment efficiencies and related reporting improvements across the Group over time.
The Group has a small number of suppliers with either ‘due on receipt’ or seven day payment terms, and also uses the invoice date as the date of receipt by the business as invoices do not tend to be received directly by the finance team. These factors both negatively impact the percentage not paid within agreed terms statistic reported for this period.
Dispute resolution process
William Hill works collaboratively to ensure that issues raised by suppliers are both minimised and resolved quickly where they arise. The supplier will liaise with their immediate business contact in the first instance, with support from the accounts payable team as necessary to resolve. Where required, urgent issues are escalated to the senior finance team for prompt attention and authority for any non-standard means of resolution.
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