GOV.UK
HAVEN POWER LIMITED
Company number: 05893966
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 29 January 2021
and approved by Andy Skelton
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms by supplier in the period was 30 days. A small number of suppliers have payment terms of 14 days or less. As they contributed the majority (96%) of the processed invoices in the period, there is a significant impact on average time taken to pay invoices, leading to an average of 13 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
On receipt of an invoice, Accounts Payable perform standard checks: -
•The invoice is for Haven Power Ltd
•We have authorised supplier details and bank account for payment
•A Purchase Order (PO) number is quoted and matches an approved order number
•The invoice details match the approved PO for quantity, price, and description of supply
•The PO has been receipted
•The invoice has not already been paid
•We have not already received a copy of the invoice
We target to complete these checks within 5 days of invoice receipt. If invoices are received on a timely basis and no queries arise from these checks, payment will be schedule by BACS in accordance with terms.
Where queries arise, payment will be made by BACS once these queries are resolved. We target to resolve queries within 5 days and make payment on the next scheduled BACS run.
Certain contracts have a clause which enables the supplier to claim interest on late payments.
Disputes should be sent to the following email address purchase.ledger@havenpower.com
This email is monitored daily by Accounts Payable
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.Yes – Prompt payment code
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