THE ALAN NUTTALL PARTNERSHIP LIMITED
Company number: 01191211
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
30 September 2020
Approved by:
Darren Emms
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 35%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Our usual standard terms are 30 days
Were there any changes to the standard payment terms in the reporting period?
Covid-19 impacted the ability to work normal due to working from home restrictions and ability to carry out normal working on a day to day basis which affected processing payments & invoices.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
90 days
Within our company we have different business operations all affect payment terms. Our contracting division has valuation certificates, snagging issue, retention periods, delay notices which can significantly effect the payment terms within the overall company
Any other information about payment terms
No further comment provided
Dispute resolution process
We have a very stable supply chain built up over many years on trust and working relationships. If an issue exists this will be sent through to the accounts team who would escalate this to the relevant operational team for a resolution. In 99.9% of cases a resolution is made, but if not the finance team will contact the supplier for an understanding/explanation of the issue to ensure the supplier is made aware and also the FD for a resolution of the issue.
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