GOV.UK
TURNERS (SOHAM) LIMITED
Company number: 00439684
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by P E DAY
Payment statistics
Average time taken to pay invoices: 54 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 56%
- in 61 days or more: 35%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
73 days
Standard payment terms
A maximum of 45 days after the end of the month in which an invoice is dated
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
73 days
The suppliers to which these terms apply are also customers and the company's payment terms are the same as the terms upon which these customers pay the company
Any other information about payment terms
Whilst payment is described as <45 days after the month in which an invoice is dated suppliers will receive payment slightly earlier than this - on the first or second Friday of the second month after the month in which an invoice is dated.
Dispute resolution process
The finance department will inform the supplier that an invoice is disputed and will provide the details of the person who will need to be contacted to resolve the dispute. Payment will be received by the supplier no later than 10 days after resolution of the dispute.
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