BARRETTS PROPERTY DEVELOPMENT LIMITED
Company number: 09703220
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 26 January 2021
and approved by PJ Barrett
Payment statistics
Average time taken to pay invoices: 6 days
Invoices paid:
- within 30 days: 100%
Invoices due but not paid within agreed terms: 79%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
The length of time taken to pay invoices is determined by the payment terms laid down by our suppliers. We do two payment runs per month, including all authorised and due invoices at that time. Payment is by BACS. In addition, those invoices falling under the CIS scheme are paid manually by bank transfer within the due date requested.
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
0 days
Our maximum terms would be those dictated by our suppliers.
Any other information about payment terms
We have not changed any standard payment terms in the period.
Dispute resolution process
We are a small business, with all departments based locally in East Kent. Communication is fluid and informal, with suppliers being able to contact the business easily. We are now only receiving a small number of invoices as the main construction that the business was doing is now complete. Invoices are dealt with by the Purchase Ledger Supervisor. He will ensure that invoices are authorised and request further details, delivery notes or order numbers, usually by telephone, if required.
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