SHORT BROTHERS PLC
Company number: NI001062
Reporting period:
1 January 2018 to
30 June 2018
This report was filed on 25 July 2018
and approved by Colin Thompson
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 45%
- in 61 days or more: 40%
Invoices due but not paid within agreed terms: 88%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
120 days
Standard payment terms
The most commonly used payment period ranges from 45-60 days
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
120 days
No further comment provided
Any other information about payment terms
Although 88% of our invoices were not paid within our payment terms this is as a result of invoices being paid on the next available payment run i.e. at the end of the week they fall due. 83% of our invoices are paid in time or within 7 days of due date
Dispute resolution process
Accounts payable refer the invoice to the relevant purchasing department for investigation and resolution directly with the supplier if appropriate or accounts payable department will resolve the matter directly with supplier's accounts receivable 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