GOV.UK
ALC (SPC) LIMITED
Company number: 05424261
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 27 July 2018
and approved by Mark Lawton
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 43%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 45 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
It is the Company policy to agree appropriate terms of payment with each supplier, and to pay invoices in line with those terms subject to the timely submission of satisfactory invoices. Payment runs are made weekly for external supplier payments. The weekly payment run will include any invoices due for payment within the next 2 weeks.
Inter-company payment rules are governed by the core contract and are generally payable within 60 days. Payment runs for intercompany invoices are run at the end of each month for any invoices payable in that period. For inter-company invoices raised early in a month, these can take upto 90 days to payment. Exceptional items, as defined and agreed within the contract, are deferred for payment to the end of each six month period ending 30 March and 31 September each year.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Any other information about payment terms
Of all invoices due in the period 87% were intercompany on 60 day terms. 49% of invoices due in the period were not paid within the contractual terms, and these were all intercompany. Of these overdue invoices 88% were paid within 5 days of the due date.
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both party’s satisfaction prior to payment being made. Invoice queries are dealt with in the first instance by Accounts Payable who will aim to resolve issues as quickly as possible in order to make payment.
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