GOV.UK
NOTCUTTS LIMITED
Company number: 00393104
Reporting period:
1 September 2019
to 29 February 2020
This report was filed on 9 March 2020
and approved by Julian Herbert
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 37%
- in 61 days or more: 39%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
85 days
Standard payment terms
Shortest Standard Payment Period
30 days from invoice date.
Longest Standard Payment Period
55 days following the end of the month of the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
85 days
55 days from the end of the month of the invoice.
Any other information about payment terms
N/A
Dispute resolution process
Notcutts Ltd endeavours to pay its suppliers on time in line with agreed terms.
Late payments are generally related to discrepancies between the invoice and the associated purchase order. We strive to resolve invoice queries and disputes within the Standard Payment Period but where this is not possible we seek to resolve the issue and make the payment as soon as a resolution has been achieved.
Supplier enquiries regarding payments can be directed to a dedicated purchase ledger team, contactable by phone or email Monday to Friday.
Any disputes are initially handled by the relevant employee responsible for the purchase order with escalation to a director if required for 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