GATTACA PLC
Company number: 04426322
Reporting period:
1 August 2019 to
31 January 2020
This report was filed on 1 May 2020
and approved by SALAR FARZAD
Payment statistics
Average time taken to pay invoices: 7 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 5%
Invoices due but not paid within agreed terms: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
There are 2 different standards: for contractor payments these are made within 7 days after the receipt of a time sheet. For other expenditure (i.e. overheads), payments terms are made in line with the suppliers' terms which are usually 14 or 30 days. There are a very small number of suppliers working on 45 or 60 days terms.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Complaints and disputes are initially managed by staff looking after either the purchase ledger or contractor payroll functions. Where this does not suitably resolve any disputes, further escalation is managed through the company's legal and compliance department.
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, 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.
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