INTU LAKESIDE LIMITED

Company number: 04144192

Reporting period:
1 January 2020 to 30 June 2020

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This report was filed on 30 July 2020

and approved by Robert Allen

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 88%
• in 31 to 60 days: 7%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 16%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

Our Standard Payment Terms are 60 days, however where we have a contract that denotes less than this then the contract terms are used against that supplier. All of our SME suppliers without a contract are set at 30 days or less. Any supplier without a contract has the payment terms printed on the purchase order that is sent to them.

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Any invoice that is disputing is loaded into a query resolution system. The requestor of the goods service communicates with the supplier via phone/email. All emails are uploaded along with the invoice so the dispute can be monitored by the central AP function.

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