GOV.UK
BELRON INTERNATIONAL LIMITED
Company number: 02442568
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 25 January 2021
and approved by Humphrey Singer
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 27%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 48 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
Due to the Covid-19 pandemic a decision was made to defer payments to suppliers to help preserve cash balances within Belron International. This was done by communicating with all the necessary suppliers and consent to defer payments was agreed. However standard payment terms in the system were not changed. This explains the increase in invoices not paid within the agreed period and also the fall in the % of invoices paid within 30 days. There has also been a significant drop in the number of travel invoices through our corporate travel partner that are paid immediately by the company AMEX card. This means that the number of invoices overdue is a larger % than previously due to fewer invoices overall. We are no longer deferring any payments to suppliers.
Dispute resolution process
Suppliers are encouraged to contact the accounts payable team in order to discuss queries. Disputed invoices will be referred to the relevant purchase order owner or contract owner within Belron International Limited to resolve any queries relating to the invoice details and where necessary discussed with the Supplier Contact. The dispute can be further escalated to the Finance Manager and resolved with appropriate action.
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