GOV.UK
WILKO RETAIL LIMITED
Company number: 00365335
Reporting period:
2 February 2020
to 1 August 2020
This report was filed on 13 August 2020
and approved by Andrew Green
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 52%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 25 %
Payment terms
Shortest standard payment period
45 days
Longest standard payment period
90 days
Standard payment terms
Standard terms are 45, 60 and 90 days but payment varies from immediate payment through to 90 days.
Were there any changes to the standard payment terms in the reporting period?
Yes – Standard payments for import supply changed to 90 days.
Were suppliers notified or consulted about these changes before they were made?
Yes – One months advanced written notice of the change of payment terms which applied only to orders placed after the effective date of change was given on an individual basis to each supplier. The notice included a copy of the updated terms and conditions. Follow up conversations were held with all suppliers. A trade finance solution was also made available to affected suppliers.
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Wilko finance team review supplier statement reconciliations to work through any disputes.
These are reported to our buying and finance management teams with the aim of resolving payment queries as quickly as possible.
Suppliers with disputes should contact the finance department by telephone on 01909 505505 or by post at:
Finance Department, J K House, Roebuck Way, Manton Wood, Worksop, Notts, S80 3EG.
Wilko precedent contracts for goods and services contain dispute resolution clauses.
Where wilko contracts on supplier terms, wilko seeks to include dispute resolution clauses - and these are generally accepted as they are beneficial to both parties.
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
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.
Yes
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.
Yes
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