GOV.UK
THE RESTAURANT GROUP (UK) LIMITED
Company number: 00894426
Reporting period:
1 January 2018
to 1 July 2018
This report was filed on 27 July 2018
and approved by Kirk Davis
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 82%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
28 days
Longest standard payment period
61 days
Standard payment terms
Standard payment terms are the last business day of the month after the invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
Any other information about payment terms
The Restaurant Group (UK) Limited recognises that 22% of suppliers and distributors being paid out of terms is not in line with our corporate responsibilities. We have identified that 12% of suppliers are paid within five days of payment terms albeit we accept that this is still outside of terms. We value our relationship with our suppliers and distributors and accordingly, with immediate effect, we will change our process to ensure that a greater proportion of our suppliers and distributors are being paid within terms and would expect this to be evident when we report in January 2019.
Dispute resolution process
All suppliers can contact the Accounts Payable team by phone or email to check the status of their invoice at any time during normal business hours.
Disputes would typically be escalated to a senior member of the finance, procurement or relevant operational function. If necessary, this may be further escalated to the relevant executive board member.
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