GOV.UK
SKY TELECOMMUNICATIONS SERVICES LIMITED
Company number: 02883980
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Colin Jones
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 68%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard terms are between 30 and 60 days from the receipt of a valid invoice. On receipt of a valid invoice these invoices are included in a weekly payment run as they fall due
Were there any changes to the standard payment terms in the reporting period?
Yes –
1. Clause 8.3 of the Sky Group Standard Terms & Conditions was updated on 29 December 2017, with such changes being effective for all new suppliers from that date.
2. The change to Clause 8.3 was to confirm Sky’s long-standing common practice of paying invoices in its standard weekly payment cycle.
3. The amended clause states that:
a. Sky processes valid, undisputed VAT invoices for payment before or during the week in which that payment is due;
b. Cleared funds should be received within 2 business days of being processed for payment via BACS and on the same day for foreign exchange wire payments.
4. Acceptance of Sky’s long standing payment practice (as referenced in the amendments to Clause 8.3) was also obtained from Sky’s existing suppliers who were notified of the existing payment practice by 11 May 2018 and invited to contact Sky with any queries before 25 May 2018.
5. Sky Group only received one query from this notification to existing suppliers, which was resolved by Sky within 48-hours.
Were suppliers notified or consulted about these changes before they were made?
Yes – We contacted suppliers via email. We also gave suppliers the opportunity to clarify any detail provided.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
Our predominant paying company is Sky UK Ltd and there is a wide disparity in the number of invoices paid through our various legal entities. Sky figures are impacted by intercompany trading within the Sky companies, particularly Sky In-home Service Limited. Our standard terms and conditions for suppliers are between 30 and 60 days from the receipt of a valid invoice.
We paid the vast majority (84%) of our invoices on time and within the agreed payment terms. We paid 21% of invoices within 30 days and 91% within 60 days. On average we paid suppliers 41 days from receipt of invoice to funds into suppliers’ bank accounts. Sky was proud to support almost 3,000 smaller suppliers in the period, and our policy is for new smaller suppliers to be on 30 day terms or less. Our larger suppliers are appropriately on longer terms.
Dispute resolution process
At Sky, we aim to resolve disputes or queries regarding invoices and payment as quickly as possible. Should you have a query regarding the expected payment date of an invoice, you can contact our Accounts Payable helpdesk who will be able to advise further at the following address aphelpdesk@sky.uk.
For contractual disputes, not necessarily related to payment date enquiries, you should follow the procedure contractually agreed and, if none, then please contact the individual(s) who ordered the goods or services you have provided.
When an invoice dispute is received, it should if possible be resolved at point of contact with the Accounts payable team. If this is not possible, the query will be escalated to the business contact and a relevant senior finance contact. When resolved, the invoice will be available for payment on the next standard payment run.
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.
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