REDCASTLE LIMITED
Company number: 03194733
Reporting period:
1 March 2020 to 29 August 2020
Report filed on:
31 October 2020
Approved by:
Gillian Hague
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 2%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Invoices relating to property charges – Invoices are paid daily, 30 days from invoice date
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
30 days
No further comment provided
Any other information about payment terms
Payments to landlords were suspended during the Covid 19 pandemic due to the closure of our stores resulting from the government lockdown. Payments not made at all are not reflected in the payment statistics. These payments will reflect as overdue when settlements are ultimately made.
Dispute resolution process
Queries from the Company’s suppliers are directed through a central property Supplier Liaison team within Accounts Payable. The following service level agreement is in place to ensure we respond to our suppliers within an acceptable time frame: Urgent queries – 24 hours from receipt of query The initial contact points for suppliers are as follows: Invoices relating to property charges – AP.property.team@arcadiagroup.co.uk
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