GOV.UK
PLAYBOY CLUB LONDON LIMITED
Company number: 02690210
Reporting period:
1 January 2021
to 30 June 2021
This report was filed on 29 July 2021
and approved by Alexis Oswald
Payment statistics
Average time taken to pay invoices: 64 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 43%
- in 61 days or more: 31%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
68 days
Standard payment terms
Our standard payment terms are to make payment by BACS in a monthly payment run, within the first week after the end of the month following the month of receipt by the company of a proper invoice or, if later, after acceptance of the goods in question by the company.
In effect, this means that we make payment to suppliers under these terms between 35 and 68 days, depending on the timing within the calendar month that the invoice is received.
Exceptions to the above policy are made for smaller suppliers such as entertainers, who are paid in the next available weekly BACS run after their performance.
Payment terms may also form part of our commercial negotiations with suppliers where appropriate. Terms may be extended or shortened to provide a more beneficial commercial model to both parties.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
68 days
Any other information about payment terms
N/A
Dispute resolution process
We seek to resolve any disputes in a timely manner through discussion with our suppliers. In the first instance, disputes are handled by the company contact who raised the order. If agreement cannot be reached with the order originator, the matter would be escalated to the Head Office Group Purchasing function, who will review the case and seek to reach a prompt agreement with 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
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