GOV.UK
BECKETT'S FOODS LIMITED
Company number: 02257171
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Timothy Cornes
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 64%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 91 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
Our Standard Terms are EOM 21 days with agreed 1% rebate, EOM 60 days with no rebate and I35 for Raw Material Suppliers.
We have other various agreed terms depending on the Supplier and type of Supply.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
Our calculation used was based on Invoice/Delivery date as the date the invoice was received is not currently available.
% not paid within agreed terms is very high as Payment Processing days are not included in our terms as yet.
Dispute resolution process
Budget Managers, Department Administrators and Accounts Technicians can all be contacted relating to any Supplier dispute.
All invoices other than Utility require a Purchase Order.
Budget Managers and Department Administrators raise the Purchase Orders. They are either, emailed, posted, given verbally or entered into the Suppliers online ordering systems.
Invoices matching the PO information are posted into the Finance system daily.
Invoices not matching are entered onto our query log where internal and external issues are monitored and followed up with either/and the Budget Manager, Department Administrator and Supplier via email and telephone.
Statement Reconciliations (where received) are completed to make sure all invoices have been received. After completion of the reconciliation the Supplier is updated of any queries still in progress relating to any outstanding or overdue invoices.
Resolved invoices are processed daily and paid via the next available BACS run with the option to also pay via Faster Payment or CHAPS.
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