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ROMAN ORIGINALS PLC

Company number: 00980843

Reporting period:
31 December 2017 to 29 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 27 July 2018

and approved by Peter Christodoulou

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 68%
• in 31 to 60 days: 20%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 2 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

Generally speaking, imported finished goods are paid for on delivery at the port, raw materials are on 60 day terms, processing suppliers are on 3 working day terms, overheads are generally on 30 day terms. Rent and rate suppliers are payable in advance on an agreed date.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

The Purchase Ledger department ensures good relationships are kept with suppliers. Any complaints or concerns suppliers have are referred to the Purchase Ledger department who will liaise with the supplier via email/ telephone to resolve any query.
Complaints or concerns are usually actioned the same day, or worse case scenario 48 hours, and aim to be resolved as soon as possible.

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