GOV.UK
REVOLUTION BARS LIMITED
Company number: 08838980
Reporting period:
2 July 2017
to 1 January 2018
This report was filed on 24 January 2018
and approved by Mike Foster
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 28%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 66 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
166 days
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
On instances, when there is a dispute or error with the payment, the concerned supplier will either email or ring the accounts payable department. The accounts payable will make a note of the query and will try to resolve the query as soon as possible. Depending on the complexity, it will either be resolved by the accounts payable clerk or escalated to their line manager. Once the issue has been resolved, the supplier will be advised of the payment date, along with the remittance slip.
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.
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