VIRGIN ACTIVE LIMITED
Company number: 03448441
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
David Carter
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 11%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
60 days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance, any disputes with regards to payments or orders should be raised with the individual club, or manager, that ordered the goods or services. If this does not lead to a satisfactory resolution, then please follow the below process including the initial correspondence. Initial disputes to the Accounts Payable Team (purchaseledger@virginactive.co.uk or 0207 786 7300). If not resolved in 10 Business Days, to the Financial Controller (Matthew.Taverner@virginactive.co.uk or 0208 124 4075). If not resolved in a further 5 Business Days, to the Legal Director (James.Archibald@virginactive.co.uk or 0207 786 7355).
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 Fair 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