STUDIO RETAIL LIMITED
Company number: 00718151
Reporting period:
28 March 2020
to 25 September 2020
This report was filed on 22 October 2020
and approved by Stuart Caldwell
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 53%
- in 61 days or more: 24%
Invoices due but not paid within agreed terms: 48 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
The company has a range of payment terms with the majority being on 60 days. It is the company policy to pay all undisputed invoices in a timely manner, the majority are paid as close to the due date as possible. We are currently reviewing our payment processes with a view to improving the percentage of payments within the agreed payment terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
Any other information about payment terms
N/A
Dispute resolution process
We seek to resolve all queries as quickly as possible. Any payment disputes are dealt with by the Finance Department in the first instance. If the matter remains unresolved, it will be escalated to the relevant Head of Department to seek resolution.
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