Company number: 01274344
1 November 2019
to 30 April 2020
This report was filed on 30 May 2020
and approved by Peter Burnside
Average time taken to pay invoices: 55 days
- within 30 days: 15%
- in 31 to 60 days: 43%
- in 61 days or more: 43%
Invoices due but not paid within agreed terms: 15 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Key and preferred suppliers sign to 45 days from end of month. For smaller businesses and ad hoc suppliers we have flexibility to pay to shorter agreed terms
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Disputes in relation to payments are initiated with the purchase ledger department and our procurement department whom governs the payment process. Where payments are withheld for any reason this is discussed with the supplier in the first instance.
If an agreement cannot be made this is then escalated to the Financial Director whom will discuss with their opposite number whether an agreement can be reached. During this period there has been no withheld payments that have gone beyond this point
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?