PPF LIMITED
Company number: 03352071
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
15 July 2020
Approved by:
Steve Mogano
Payment statistics
Average time taken to pay invoices: 4 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 3%
- in 61 days or more: 1%
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: 6%
Payment terms
Shortest standard payment periods
6 days
Longest standard payment period
45 days
Standard payment terms
The standard payment terms, for normal suppliers, are 30 days end of month (averages at 45 days). However, the vast majority of our suppliers relate to limited company contractors. In this situation, PPF Ltd self-bill raising invoices weekly on a Wednesday. These invoices are back-dated to the previous Saturday (end of period) and paid on the Friday. Hence, the standard payment terms are 6 days. As the majority of the purchase invoices are generated under a self-billing arrangement our payment statistics are better than might be expected.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any invoices which are disputed are queried with the supplier by the purchase ledger team.
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.
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