TOPPS TILES (UK) LIMITED
Company number: 04781209
Reporting period:
27 March 2021 to 2 October 2021
Report filed on:
6 October 2021
Approved by:
Stephen Robert Hopson
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 34%
- in 61 days or more: 26%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
120 days
Standard payment terms
Topps Tiles do not have a standard set of terms; instead terms are negotiated with individual suppliers. The most commonly used payment terms for Topps Tiles are payments by: (a) the end of the following month (ranging from 30 to 60 days), (b) the end of the month plus 60 days, (c) 90 days, and (d) 120 days.
Were there any changes to the standard payment terms in the reporting period?
All changes in terms with suppliers, such as changes in payment terms, during the reporting period were business led and were made after negotiations with the relevant suppliers. The communication with suppliers would range from telephone conversations, email correspondence, and written letters.
Were suppliers notified or consulted about these changes before they were made?
The communication with suppliers would range from telephone conversations, email correspondence, and written letters.
Maximum contractual payment period agreed
120 days
These terms are typically used for Far Eastern suppliers where we take ownership of the stock at the port in the Far East and payment terms recognise the amount of time the stock is in transit to us.
Any other information about payment terms
None
Dispute resolution process
Any complaints from suppliers would usually be received by the Finance team. Upon receipt of a complaint, the Finance team would investigate the reason for the complaint, and revert back to the supplier with a response. The team aim to resolve complaints and disputes in a timely manner and as efficiently as possible for both parties. The usual timescale is 2-3 working days, if not sooner.
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.
Yes
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