NEWTON EUROPE LIMITED

Company number: 04279175

Reporting period:
1 September 2019 to 29 February 2020

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This report was filed on 23 December 2020

and approved by George King

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 74%
• in 31 to 60 days: 21%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 50%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

30 days

Standard payment terms

30 days standard unless otherwise advised by supplier.

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

N/A

Dispute resolution process

If an invoice has been disputed by the approving manager they are asked to provide a reason for the dispute and are asked for a status update each week to ascertain if the invoice can be approved or if a new invoice will be issued. The approving manager is asked to contact the relevant supplier to resolve the dispute. If the invoice is overdue for payment Finance will also e-mail the contact at the supplier to explain the reason for the invoice not being paid and advise the approving manager who needs to approve before payment can be authorised.

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