GOV.UK
THE ORION PUBLISHING GROUP LIMITED
Company number: 02663988
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 28 January 2022
and approved by Pierre de Cacqueray
Payment statistics
Average time taken to pay invoices: 66 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 14%
- in 61 days or more: 47%
Invoices due but not paid within agreed terms: 32 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
120 days
Standard payment terms
Our standard payment terms for goods and services are 30 days from the date of invoice, however the industry norm for Publishing/Printing/Bind are end of month plus 90 days or 120 days. All vendor accounts who submit invoices specifically for personal expenses via accounts payable have implied terms of zero days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
120 days
All Utility vendors invoices are paid via Direct debit.
Our standard payment terms for goods and services are 30 days date of invoice. We pay vendors within 14 days for events and proforma invoices.
Any other information about payment terms
N/A
Dispute resolution process
All invoices that are disputed are referred to the relevant buyer/approver. Accounts Payable will follow up the dispute with the procurer while the dispute is resolved. These disputes are resolved as quickly as possible and will be escalated to a senior manager for resolution if protracted.
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