JAMES WALKER & CO. LIMITED
Company number: 02432592
Reporting period:
1 April 2020 to
30 September 2020
This report was filed on 26 October 2020
and approved by Ian Bell
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 36%
- in 61 days or more: 53%
Invoices due but not paid within agreed terms: 95%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
150 days
Standard payment terms
Unless agreed otherwise, between James Walker & Co Ltd & the supplier, standard payment terms of 60 days from invoice date apply.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
It is normal practice for James Walker & Co Ltd to make payments to third party suppliers once per week, this covers approved invoices that are due up to and including the date of payment. As a result of this payment practice invoices which fall due between payment dates are, by definition, overdue when paid. Though this is not written into formal contracts with suppliers, they are aware of this practice. Adjusting for the effect of weekly payments gives a figure of 26% of third party payments made outside of agreed terms. For third party payments made within the period, outside of agreed terms, the average number of days overdue is 8.
Dispute resolution process
Any invoice disputes will be raised with the supplier by the member of the purchasing department responsible for placing the order. The purchasing department liaise with the supplier to resolve the issue. Feedback is provided to the accounts payable department, by the purchasing department, via the invoice processing system.
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, 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