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INEOS ENTERPRISES GROUP LIMITED

Company number: 04687714

Reporting period:
1 January 2021 to 30 June 2021

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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 2021

and approved by David Horrocks

Payment statistics

Average time taken to pay invoices: 63 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 42%
• in 61 days or more: 47%

Invoices due but not paid within agreed terms: 53 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

93 days

Standard payment terms

"The business uses a large number of suppliers on different payment terms. There is no real standard payments terms and terms are negotiated individually per supplier. The numbers above therefore represent the full range of payment terms offered from different suppliers.
In the reporting period the weighted average payment terms (based on value of invoices paid) was 31 days, and the average terms based on number of payments was 63 days."

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

No

Maximum contractual payment period agreed

93 days

Any other information about payment terms

N/A

Dispute resolution process

-

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