GOV.UK
FORTNUM & MASON PUBLIC LIMITED COMPANY
Company number: 00084909
Reporting period:
13 July 2020
to 12 January 2021
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 19 February 2021
and approved by Justin Carmichael
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 75%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 81 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
60 days
Standard payment terms
As per the terms and agreements in place for the type of goods and services supplied.
Were there any changes to the standard payment terms in the reporting period?
Yes – A number of suppliers supported the business with extended payment terms through COVID.
Were suppliers notified or consulted about these changes before they were made?
Yes – Short term extension of payment terms were discussed and agreed with a number of suppliers.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Where there are problems with timely payment such instances should be raised with your direct F&M contact and the Finance team.
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.
Yes
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