GOV.UK
GAME RETAIL LIMITED
Company number: 07837246
Reporting period:
25 October 2020
to 24 April 2021
This report was filed on 8 June 2021
and approved by Nick Arran
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 36%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
Goods for resale - 30 days
Goods not for resale - 30 days
Rent 1-7 days
This is with the exception, that some suppliers are on extended terms (60 days)
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
n/a
Any other information about payment terms
Due to our inability to date track documents in to our business, we have had to use the supplier document date, as the basis for our statistics. This will go some way towards explaining the percentage of late payments. There are a large number of suppliers who are paid on a sell through basis, with payment terms of 7 days - leaving little time to turnaround queries, or issue payments when invoice submission is late.
The data for this reporting period includes a number of weeks across the national lockdown where extended terms were negotiated with suppliers
Dispute resolution process
GAME Retail Ltd values strong collaborative relationships across our supplier base, and we place high importance on ensuring queries are resolved in a timely manner. In the first instance vendors will raise a dispute with the Accounts Payable team. If the GAME/ supplier transactional teams are unable to resolve the query with the information provided it will then be escalated to the relevant Commercial contacts in both businesses for review.
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