ROYS(WROXHAM),LIMITED
Company number: 00256574
Reporting period:
28 July 2019 to 25 January 2020
Report filed on:
25 February 2020
Approved by:
Edward Roy
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 39%
- in 61 days or more: 7%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
Answer not provided
Standard payment terms
The business has no standard payment terms.
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
Payment terms for small local businesses and grocery suppliers are normally between 14 days and 30 days from date of invoice. Payment terms for non-food suppliers are normally between 30 days and 60 days from date of invoice. There are early settlement discounts in place for certain suppliers as part of their contractual arrangements.
Dispute resolution process
Any disputes relating to payment are referred to the Accounts Department who will investigate and aim to respond back within 24 hours. Disputes normally relate to missing invoices, to which a copy is requested to be sent over for processing, or price / quantity queries residing with the Buying team, who Accounts will contact to expedite a 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 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