THE ORIGINAL BOWLING COMPANY LIMITED
Company number: 05163827
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
12 October 2020
Approved by:
Laurence Keen
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 39%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
The Original Bowling Company Limited does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The Company, as standard, pays all its suppliers no later than the last day of the month following the month in which the relevant undisputed invoice is received (i.e. between 31 and 61 days from receipt). All suppliers are made aware of this at contract signing, and can request earlier payments if necessary. Variations to these standard payment terms can be agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period is net 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
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
As well as the standard payment terms outlined above, the Company also operates a weekly payment run to pay suppliers that have agreed shorter payment terms or require immediate payment.
Dispute resolution process
In the event of a disputed invoice or difference arising between the Company and its supplier, the Account Holder will contact the supplier to discuss and resolve the issue upon receipt of the invoice. If the Account Holder is unable to resolve the issue, the dispute will be passed over to the Accounts Payable team to resolve. If the Accounts Payable team are unable to resolve the issue within a reasonable time frame, the dispute will be escalated to a senior representative who shall use their reasonable endeavours to resolve the dispute. For the majority of invoices, the escalation point would be the current Operations Director. Invoices that are subject to dispute will not be paid until resolution of the dispute. Suppliers are encouraged to contact Accounts Payable on AccountsPayable@hollywoodbowl.co.uk with any questions relating to the payment of invoices.
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.
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.
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