ADMIRAL TAVERNS (CHESTER) LIMITED
Company number: 03989713
Reporting period:
30 November 2020 to
29 May 2021
This report was filed on 23 June 2021
and approved by Nick Gray
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 47%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 62%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
58 days
Standard payment terms
The company does not have standard payment terms. The most frequent payment term is 35 days except for beer suppliers. Most beer suppliers average 45 days with payment taken 28 days after the end of the month the invoice fall into.
Were there any changes to the standard payment terms in the reporting period?
In order to manage cash flows during Covid-19 the most frequent payment term was increased by 30 days. Individual payment terms have been agreed with our beer suppliers. Once the pandemic has passed it is envisaged payment terms will return to the pre Covid-19 position.
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
58 days
No further comment provided
Any other information about payment terms
In order to manage cash flows during Covid-19 the most frequent payment term was increased by 30 days. Individual payment terms have been agreed with our beer suppliers. Once the pandemic has passed it is envisaged payment terms will return to the pre Covid-19 position.
Dispute resolution process
The finance team would contact the supplier to register that there is a query/dispute with an invoice. This would then be resolved between the relevant department within the company and the counterpart department at the supplier.
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, this business has not signed up to a code of conduct or standards on payment practices.
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