GOV.UK
COSTA EXPRESS LIMITED
Company number: 03145187
Reporting period:
26 June 2020
to 31 December 2020
This report was filed on 29 January 2021
and approved by Nick Orrin
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 43%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
120 days
Standard payment terms
Below £150k per annum - 60 days
Above £150k per annum – 120 days
There are some supply type exceptions to the above.
Were there any changes to the standard payment terms in the reporting period?
Yes – There has been a change in supplier payment terms within the period. In addition, Costa also now offers the facility for suppliers to take Supply Chain finance. Recent tenders have been issued under the new policy.
Were suppliers notified or consulted about these changes before they were made?
Yes – Recent tenders have been issued under the new policy.
Maximum contractual payment period agreed
120 days
Any other information about payment terms
N/A
Dispute resolution process
The Accounts Payable team manages supplier queries via a dedicated email mailbox. For any concerns raised by suppliers, the Accounts Payable team internally work with the relevant teams to provide a solution.
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.
Yes
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