FRIDAYS LIMITED
Company number: 01005611
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
23 July 2020
Approved by:
Malcolm Friday
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 19%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Suppliers are categorised as either agricultural or general. Payment terms for agricultural suppliers are set at 21 days.
Payment terms for other suppliers vary between 21 days from invoice receipt, and 60 days from month end, with the most frequent terms being 30 days from month end.
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
Any other information about payment terms
NO
Dispute resolution process
If an invoice is in dispute, the supplier is contacted to discuss and resolve the query. If credit is due, the invoice is held until a credit is received or a debit note is raised to allow the payment to be made.
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