WATFORD ASSOCIATION FOOTBALL CLUB LIMITED(THE)
Company number: 00104194
Reporting period:
1 July 2017 to 31 December 2017
Report filed on:
30 January 2018
Approved by:
Scott Duxbury
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 40%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
The company generally shall make payment during the first week of the month following the month in which the invoice is dated. Contracts relating to player transfers and capital works are subject to specific contractual terms and are paid in accordance with the schedules outlined within the relevant contract.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a dispute arises in relation to an invoice the department head responsible for the cost will advise the accounts assistant responsible for the purchase ledger function. This is internally recorded and a follow up is diarised. The department head will then deal with the query directly, keeping the Finance team informed of progress. Any disputes not resolved within 30 days will be referred to the Head of Finance and thereafter to the Chief Executive Officer.
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 Fair 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