Published reports

DFS TRADING LIMITED

Company number: 01735950

This information is as reported by the business, and responses are in their own words.

Reporting period:

30 December 2019 to 28 June 2020

Report filed on:

12 August 2020

Approved by:

Mike Schmidt


Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

  • within 30 days: 79%
  • in 31 to 60 days: 13%
  • in 61 days or more: 8%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 45%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

Payment terms are agreed with key suppliers individually and may vary depending on the nature of the goods or services being provided. Standard payment terms for other suppliers are typically 60 days from invoice date.

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

70 days

No further comment provided

Any other information about payment terms

This period of reporting has been significantly impacted by the Covid-19 pandemic. To support business cash flow during the lockdown period, payments to key suppliers were deferred as part of agreed variations to payment terms however reported figures reflect standard payment terms and therefore show an increased percentage of invoices as paid late. Suppliers where deferred terms were not in place were those typically on shorter payment terms, reducing the reported average payment period.

Dispute resolution process

Where discrepancies arise on either the price or volume of items received, these are referred to the business area receiving the goods or services for agreement with the supplier, supported by the accounts payable team. Where necessary, additional documentation (e.g. proof of delivery) is sought.

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