WGC LTD

Company number: 01163829

Reporting period:
1 April 2021 to 30 September 2021

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This report was filed on 27 January 2022

and approved by MELANIE TROIANO

Payment statistics

Average time taken to pay invoices: 27 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 42%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 53%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

365 days

Standard payment terms

Weekly payments are made to suppliers based on invoices outstanding in the 30 day column of the aged creditors report.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

365 days

some suppliers issue annual invoices that are due for payment over monthly DD payments

Any other information about payment terms

N/A

Dispute resolution process

Invoices are reconciled against purchase orders and balances reconciled against suppler statements before payments are made. Only agreed invoices are paid and any discrepancies are then queried back to the supplier. this will initially be via phone/email between both parties accounts departments and where necessary escalated back to operational managers to seek further clarification.

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, 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